ECONOMY & MARKETS

The U.S. home loan demand continued to fall in the week ended Dec.10, posting a decline for three straight weeks as the mortgage rates hit a six-month high.

Moody's Investor Services said on Wednesday that it has put Spain's Aa1 debt rating under review for a possible downgrade taking into account the large debt burden of the country and its funding needs next year.

The Bank of Japan's Tankan business survey showed on Wednesday business confidence among large manufacturers dropped in December, the first decline in seven quarters, and that the prognosis going forward was gloomier.

Futures on major U.S. stock indices point to a lower opening on Wednesday with futures on the S&P 500 down 0.47 percent, futures on the Dow Jones Industrial Average down 0.39 percent and Nasdaq100 futures down 0.47 percent.

The percentage of Chinese who are satisfied with current price levels sharply dropped to the lowest level in 11 years despite the government efforts to contain rising prices, the People's Bank of China (PBoC) said.

Swiss drug maker Novartis will pay $12.9 billion to buy the remaining shares of Alcon it doesn't already own to broaden its presence in the booming eye-care market, which is expected to outgrow the pharmaceuticals market in coming years.

The top after-market NASDAQ stock market losers are: Hansen Natural, Terremark Worldwide, Cubist Pharmaceuticals, National Beverage, Salix Pharmaceuticals, Dynamex, Merge Healthcare, Immucor, Cytokinetics, and P.F. Chang's China Bistro.

The top after-market NASDAQ stock market gainers are: SurModics, Blue Coat Systems, Golar LNG, BJ's Restaurants, MannKind, Cathay General Bancorp, RealNetworks, Scientific Games, First Solar, and Advanced Energy Industries.

Precious metals were down in Asian trade on Wednesday, as dollar's gains following Tuesday's FOMC decision to keep the US quantitative easing program uninterrupted weighed on the investment appeal of the commodities.

Stocks retreated in the final hour of trading after the Federal Reserve left interest rates unchanged at near-zero, maintained its bond-buying program and warned about the slow pace of economic recovery in the U.S.

Gold and silver fell off day's highs after stronger-than-expected US data released Tuesday morning in New York strengthened the greenback, losses in which had helped the metals rose to 1-week highs earlier in the day, but both metals held on to the SMA support strongly.

US stocks advanced in early trade on Tuesday, following better-than-expected reports on retail sales and producer prices.

Despite a robust expansion in output and healthy headline growth figures, the eurozone economic growth will moderate next year, but gain traction again in 2012, the European Commission said in a report released on Tuesday.

The top pre-market NASDAQ stock market losers are: optionsXpress Holdings, Gulfport Energy, Veeco Instruments, Horizon Technology Finance, Bruker, NGP Capital Resources, SunPower, Huntington Bancshares, Logitech International, and Powerwave Technologies.

Producer prices for finished goods in the U.S. rose more than expected in November, posting an increase for the fifth straight month.

Futures on major U.S. stock indices point to modestly higher opening on Tuesday, following better-than-expected reports on retail sales and producer prices.

The top pre-market NASDAQ stock market gainers are: Genoptix, Sanderson Farms, Infinera, Amgen, Ness Technologies, MannKind, Silicom, Comcast, NVIDIA, and Orexigen Therapeutics.

Futures on major U.S. stock indices point to a modestly higher opening on Tuesday ahead of a wave of economic data including the US Federal Open Market Committee statement (FOMC).

DNA sequencing equipment maker Life Technologies Corp. (NASDAQ:LIFE) announced the launch of its Ion Personal Gene Machine (PGM) sequencer that gives results in two hours.

German economic sentiment rose more than expected in December, posting an increase for a second consecutive month.

Futures on major U.S. stock indices point to a modestly lower opening on Tuesday as investors awaited a wave of economic data including the US Federal Federal Open Market Committee statement (FOMC)

Japan will lower the corporate tax rate by 4.5 percent to spur the economy out of deflation, Nikkei reported on Tuesday.

Gleacher & Co. initiated coverage on Check Point Software with a 'buy' rating and price target of $55 on potential benefits from growing network security market.

U.K. chipmaker Imagination Technologies, which licenses and sells its designs to Intel and Apple, said interim pretax profits doubled on strong revenue growth from both licensing and royalties. The volume of partner chips shipping with Imagination’s IP has nearly doubled to 107 million.

A new study has found that the risk of elderly black Americans facing poverty was double that of elderly white Americans. It says although 32.7 percent of older white Americans will experience at least one year below the official poverty line, the corresponding percentage for older black Americans was double that at 64.6 percent.

Bunzl Plc, Britain's distribution and outsourcing company, sees full year group revenue growth to be between 3 percent and 4 percent boosted by acquisitions.

The top after-market NASDAQ stock market losers are: Cumberland Pharmaceuticals, Home Inns & Hotels Management, Landec, Gulfport Energy, XOMA, Harmonic, Charter Communications, Limelight Networks, Sequenom, and Novellus Systems.

The top after-market NASDAQ stock market gainers are: Genoptix, Infinera, Amgen, Powerwave Technologies, Pixelworks, SmartHeat, Endwave, SuperMedia, Cytokinetics, and YRC Worldwide.

A late-day sell-off, ahead of the U.S. Senate vote on the compromised tax bill, pushed the major equity indices to session lows, resulting in a mixed performance for stocks.