13 (headline) The three major stock indexes of new york stock market rose in an all-round way
Explanation Affected by the news of Egyptian President Mubarak's resignation, the new york stock market opened lower and went higher on 11, and by the close, the three major stock indexes rose in an all-round way.
new york's stock market opened slightly lower that day, mainly because investors were worried that the situation in Egypt might deteriorate over the weekend. However, the major stock indexes quickly turned down to up on the news of Egyptian President Mubarak's resignation. Not only that, the Dow Jones index and the Standard & Poor's index hit the highest point in two and a half years, while the Nasdaq index, which is dominated by technology stocks, hit a new high in more than three years. Some analysts pointed out that the news of Mubarak's resignation convinced investors that the risk of further deterioration of the situation in Egypt was greatly reduced. Therefore, the stock market rebounded, while international oil prices fell.
in terms of economic data, the consumer confidence index released on the same day also played a supporting role in investor sentiment. The consumer confidence index jointly released by Reuters and the University of Michigan rose to 75.1 in February, slightly higher than market expectations.
However, another report from the U.S. Department of Commerce released on the same day showed that the growth of the U.S. trade deficit last year was the largest in nearly 11 years.
in terms of individual stocks, Nokia's share price plummeted by more than 14%. On the same day, the company announced a number of enterprise reform measures, and said that it planned to use Microsoft's mobile operating system on its smart phone platform, but the market was obviously worried that Nokia did not put forward the goal of cutting R&D costs.
By the close of the new york stock market, the average price index of 31 industrial stocks of Dow Jones rose by 43.97 points over the previous trading day to close at 12273.26 points, with an increase of 1.36%. The Standard & Poor's 511-stock index rose 7.28 points, or 1.55%, to 1329.15. The Nasdaq Composite Index rose 18.99 points, or 1.68%, to 2,819.44 points.
Xinhua News Agency reporter Niu Hairong reports from new york. (End) < P > (Title) The US government proposes a housing mortgage market reform plan < P > Explanation The US Treasury submitted a housing mortgage market reform plan to Congress on the 11 th, proposing that the government will gradually weaken its support for the real estate market.
U.S. Treasury Secretary Timothy Geithner said in a speech at the Brookings Institution, a Washington think tank, "This is a fundamental reform plan, which will reduce the scale of government-supported enterprises, strengthen consumer protection, and enable those in need to obtain affordable housing."
according to the plan of the Ministry of finance, the government will gradually reduce its support for the two major mortgage institutions, Freddie Mac and Fannie Mae, and the housing finance market, repair the fundamental defects in the real estate market, and strengthen the prevention of future crises.
In the plan, the Ministry of Finance put forward three reform plans for the Congress to discuss and make decisions. The first scheme is that the government completely withdraws from the housing mortgage market except retaining the Federal Housing Agency. The second scheme is that only when the market is in crisis will the government come forward to guarantee the housing mortgage loan. The third option is that the government still plays a role in the mortgage market, but it is no longer implemented through government-supported enterprises such as Fannie and Freddie.
the housing market in the United States is over $11 trillion, and at present, more than 91% of the mortgage loans are held or guaranteed by the government. Since the full-scale financial crisis broke out in September 2118, the US government has spent about $151 billion from taxpayers to help Fannie and Freddie.
The real estate market is considered as an important source of this financial crisis. There has been a long-standing call from all walks of life in the United States to reform the government's support for mortgage institutions. Analysts believe that the reform plan of the Ministry of Finance is only the beginning because of the profound influence of the reform of the mortgage market, and legislation in this field will be a long-term process.
Xinhua News Agency reporter Lin Yu reports from Washington. (End) < P > (Title) The backlog of commercial housing in South Africa is serious < P > Explanation The South African Builders Association issued a statement on the 11 th, saying that it will carry out revolutionary changes in the existing construction industry to solve the problem of the current backlog of commercial housing in South Africa.
The South African Builders' Association pointed out in the statement that the South African construction industry has contributed more than 22% to South Africa's gross national product, with more than 1 million employees, including 411,111 full-time employees. However, due to the decline of consumption power caused by the global economic recession and the tightening of loan policy by South African banks, South Africa's construction industry, especially the commodity housing market, has entered the lowest point in the past 11 years. According to the statistics of the South African Builders Association, the number of idle houses in housing projects in South Africa has reached 8,111.
In response to this crisis, the South African Builders Association, together with the South African government and real estate developers, held a construction industry crisis summit in Johannesburg. The meeting finally reached a resolution and formulated a crisis response plan to solve the problem of commodity housing backlog.
The representatives of construction companies attending the meeting promised to reform the current construction industry. Jane Marie Talbot, president of the South African Builders Association, pointed out that the backlog of commercial housing is only a symptom of the problem. The external factors are the decline of consumption power and the tightening of loan policies by banks, while the internal causes are the lack of innovation in the construction industry, outdated design and inefficient use of housing. If this situation cannot be changed, South Africa's real estate industry will not be able to fundamentally get rid of the predicament.
In addition, the South African Power Company said at the meeting that it will allocate 5.4 billion rand (about 771 million US dollars) to transform the power supply system of existing buildings to improve energy efficiency.
Xinhua News Agency reporters Li Jianmin and Shao Haijun, and reporters Kent Walker and Daley reported in Johannesburg. (End)
(Title) South African President Zuma looks forward to the road of South Africa's "BRIC" in his State of the Union address
Explanation South African President Jacob Zuma said in his State of the Union address released on the evening of February 11 that South Africa is very happy to join the BRIC emerging economies group.
"BRIC" group is the name for the four largest developing countries in the world, China, Russian, Indian and Brazil. The total territorial area of these four countries accounts for 25% of the global land area, the total population accounts for 41% of the world's total population, and the gross domestic product exceeds 15,435 trillion US dollars. It is estimated that by 2151, the economic aggregate of BRIC will surpass that of G8 and become the leading force in the world economy.
At the end of 2111, China, as the rotating presidency of BRIC countries, formally invited South Africa to join the BRICS group.
In his State of the Union address, South African President Zuma pointed out that the "BRIC" group is the fastest-growing and important force in the world that cannot be ignored. South Africa's formal membership in this group shows that South Africa's international status has been further enhanced and it has officially entered the ranks of global regional powers. South Africa is looking forward to participating in the BRIC meeting in China as a member country for the first time in April this year.
Xinhua News Agency reporters Li Jianmin and Shao Haijun, and reporters Kent Walker and Daley reported in Johannesburg. (End) < P > (Title) Experts from the European Union and IMF believe that Greece should intensify its reforms < P > Explanation The experts from the European Union and the International Monetary Fund (IMF), who are visiting Greece, held a press conference on the 11 th, saying that strengthening structural reforms is the key for Greece to implement its stable growth plan and get rid of the crisis.
The expert group said that since the deliberation of the expert group of the European Union and the IMF in October last year, the Greek government has generally made progress in consolidating finance, maintaining financial stability and enhancing economic competitiveness, although it failed to meet the standards in some areas.
The experts from the European Union and IMF expressed their full confidence in the Greek economy, and believed that the Greek economy would stabilize in 2111 as long as the Greek government could speed up the privatization reform of state-owned enterprises. Cervoise Druce, representative of the European Union, said that the Greek government plans to raise 51 billion euros through the privatization of state-owned enterprises from 2111 to 2115, and the Greek government can raise at least 15 billion euros from 2111 to 2112.
Druce said that the funds obtained by the Greek government through privatization reform will be used to reduce the debt of 311 billion euros.
On the same day, after the expert group of the European Union and IMF released the report on the Greek economy, the Greek Ministry of Finance issued a statement saying that the Greek economy would stabilize in the second half of 2111 and resume growth in 2112.
In 2119, Greece's fiscal deficit was as high as 15.4% of its GDP, and it was on the verge of bankruptcy. In order to obtain a loan IMF1111 billion euros from the European Union and the IMF, the Greek government has to implement a strict austerity policy and accept regular evaluation and deliberation by the expert groups of the European Union and the IMF.
The expert group of EU and IMF conducted the third review of Greece from October 27th to February 1th, 2111. According to the plan, the expert group will come to Athens again in May to review and evaluate the economic progress of Greece.
Xinhua News Agency reporter Liang Yeqian and reporter Marcos reported from Athens. (End)
(Title) Argentina's largest state-owned bank will open an office in China
Explanation Argentina's largest state-owned bank, National Bank, announced on the 11 th local time that it will open an office in Beijing to facilitate bilateral trade between China and Argentina. This will be the first office of Argentine National Bank in Asia.
Carlos Fablet, president of the National Bank of Argentina, said that the National Bank of Argentina has been approved by the Central Bank of Argentina to open an office in China. The office of National Bank in Beijing will open in three to four months, and related business is also being actively prepared.
Fablet Jia said that this office will facilitate the promotion of bilateral trade between China and Argentina, especially Argentina's exports to China. He emphasized that bilateral trade between China and Argentina has developed rapidly in recent years, and China has become Argentina's second largest trading partner.
National Bank has previously opened offices in the United States, Spain, Panama, Venezuela, Brazil, Bolivia, Paraguay, Chile and Uruguay.
According to the report recently released by the Argentine National Bureau of Statistics, the bilateral trade volume between China and Argentina reached US$ 13.858 billion last year, a sharp increase of 57.6% compared with 2119, returning to the level before the financial crisis.
Xinhua News Agency reporters Feng Junyang and Song Jieyun reported in Buenos Aires. (End) (Broadcast at 16: 11 on February 3) Financial News (II)
(Title) A variety of new cars appeared at the 2111 Chicago Auto Show
Explanation On February 11, local time, the 2111 Chicago International Auto Show opened in McCormick Convention and Exhibition Center on the lakeside of Michigan, Chicago, and many new cars from major automobile manufacturers made their debut.
after opening to the global media on 9th, the 11-day auto show welcomed the first customers from all over the world. The auto show covers an area of more than 1 million square feet and is divided into two exhibition halls, north and south. It lasts for 11 days and will end on February 21th. Three American automakers, GM, Chrysler and Ford, all released brand-new models at the auto show. Among them, GM brought three star models to the Chicago Auto Show. The most striking one is the VOLT, an all-electric eco-car that Chevrolet will launch in the second half of this year.
European and Japanese manufacturers have also introduced various new models. Among them, Acura released the 2112 TL model. Compared with the current models, the new car has been improved in terms of appearance, and the visual effect is more fashionable. At the same time, the car also adjusted the power system accordingly, which improved its fuel economy.
the most attractive thing about this year's auto show is that manufacturers provide a test track, where consumers can test-drive new cars that are not yet on the market. In VOLT's test drive area, red and yellow flowers dotted the runway, as if in a holiday resort, which was pleasing to the eye.
expert on Volt products in the same period
This car won the prize in 2111, and the Chevrolet Volt is an extended-range electric vehicle. There are no such cars on the market now.
If you want to travel across the country, Volt can definitely help you realize this wish. Charging is easy. If you connect to the standard 121 volt power supply, it will take 11 hours. If it is a 241 volt power supply, it only takes 4 hours. The biggest advantage is that it only costs 1 dollars and 51 cents to fully charge a Volt in the United States, which can support a 51-mile journey, which is amazing.
Explain that the test drive track of jeep is more challenging, which is an up-and-down curve like an arch. Toyota also built a test track in the exhibition hall for visitors to test drive Toyota cars on the spot. In addition, South Korea's Hyundai and Kia Motors booths attracted a large number of young audiences with their new cars with low prices and high performance.
Another feature of this year's auto show is to open the door for women. Apart from the "Women's Day" which provides preferential prices for women, there are many new cars specially designed for women, such as Ford's FIESTA and several colorful mini-cars launched by jeep, which have been favored by many women.
visitors in the same period
I want to see Ford, which is my favorite.
contemporaneous visitors
This exhibition is excellent. This is our first time to participate, and it feels very good.
Visitors in the same period
are very attractive. I like several cars.
visitors in the same period
are very nice. I was surprised by the display of the booth and spent a lot of effort, especially the Jeep one.
Explain that Chicago Automobile Trade Association is the organization of this auto show. The first Chicago Auto Show was held in Chicago in March, 1911, and it has been held for 113 years. Chicago International Auto Show has developed into one of the largest, longest-lasting and most visited auto shows in North America.
Xinhua News Agency reporter Zhang Baoping and reporter Zhao Jing report from Chicago. (End)
(Title) The overall rise of the agricultural futures market after the holiday
Explanation Due to the continuous drought in the main wheat producing areas in China during the Spring Festival and the recent measures to increase support for grain production in the State Council, the futures market after the holiday rose sharply. After the opening of Dalian Commodity Exchange, Liandou futures rose by 138 yuan in three trading days, with an increase of 3.15%. But for this phenomenon, some analysts advise investors not to chase high.
during the spring festival, the drought in the main wheat producing areas in the north has been widely concerned by the market. On the first trading day after the holiday, the daily limit of Qiangmai futures appeared, which also led to the overall rise of the agricultural product market. However, Wu Qiujuan, a futures analyst, believes that the drought during the winter of wheat has little impact on the futures market.
Wu Qiujuan, futures analyst of Dalian Commodity Exchange in the same period
From the current situation, because winter wheat is still in the wintering period,