Stock Market News for May 29, 2009 – Market News
Zacks Market Commentaries (May 29th, 2009) Writes:
Asian stock markets jumped Friday after Japanese production numbers surged the most in 56 years and India's economy grew faster than economists had forecast. Japan's Trade Ministry said industrial output in that country jumped 5.2% in April and India's economy grew an unexpected 5.8% in the first quarter, beating analysts' projections. The numbers buoyed investors' confidence and trading picked up as the session progressed. Japan's Nikkei 225 stock average added 0.8% to 9,522.50 while Hong Kong's Hang Seng advanced 1.6% to 18,171.00. India's Sensex jumped 2.8% to 14,701.98 as news of the country's economic growth took investors by surprise. South Korea's Kospi edged up 0.3%.
Stock futures show Wall Street is headed for higher open. Dow futures rose 0.8% at 8,450. Standard & Poor's 500 index futures rose 0.7% to 911.80 and Nasdaq 100 index futures rose 1% to 1,433.00.
Although government's ability to fund its massive debt
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