10 things you should know before the opening bell
Global cues:
Japanese shares fell to a six-week low on Monday and the yen strengthened after data showed Japan's economy grew at a slower-than-expected pace in April-June, triggering investors to pare back some of their risk exposure.Japan, the world's third-largest economy, grew an annualized 2.6 percent in the second quarter, a third straight quarter of expansion but slower than a downwardly revised 3.8 percent rate in the first quarter.
US Stocksfell on Friday and posted their biggest weekly decline since June as investors focused on when the Federal Reserve would begin to scale back its stimulus.
[caption id="attachment_1025785" align="alignright" width="380"]
Reuters[/caption]
Wall Street's spotlight will fall on the consumer next week. Investors will look to earnings from major retailers and data on consumer spending with the hope that the numbers will show that Americans have indulged in some retail therapy in recent weeks.
More from InvestingThe dollar rebounded on Friday from a seven-week low against major currencies as investors believed the selloff was overdone and expected data next week will point to an improving U.S. economy.
Business/Stock news:
The headquarters ofKingfisher Airlinesin Mumbai has been taken over by its lenders after the beleaguered airline company failed to pay up its bank dues. KFA is required to pay Rs 6,027 crore along with interest.
India's banking behemoth- theState Bank of India(SBI) will announce its first quarter (April-June, FY14) earnings today. The country's largest lender is expected to report a fall of 5 percent, year-on-year (YoY), in its first quarter (April-June) net profit to Rs 3,565 crore.
Irish cement makerCRH,one of the world's largest building materials providers, is set to buy a controlling stake in India's Sree Jayajothi Cements Ltd for about $250-$300 million, two sources with direct knowledge of the matter told Reuters.
Economy news:
The HSBC India Composite Output Index, which maps bothservices and manufacturing activity, fell to 48.4 in July,
down from 50.9 in June, indicating an overall contraction.
Measures taken by the Reserve Bank of India (RBI)and the government finally came to rescue the rupee to rebound
from its an all-time intra-day low of 61.80 logged on Tuesday,to close up by 22 paise at 60.88 against the Greenback on Friday.The rupee commenced the week higher at 61.00 from lastweekend's close of 61.10 but immediately touched an intra-dayhigh of 60.72 before tumbeling to historic low of 61.80 onweakness in local equities.
The Finance Ministry is likely to announce measures on foreign capital inflows
