ECONOMY & MARKETS

Retail giant Walmart reported 9 percent growth in its quarterly profit on strong sales at its international operations and raised its fiscal 2011 earnings outlook.

Futures on the S&P 500 are down 0.49 percent, futures on the Dow Jones Industrial Average lost 0.55 percent and Nasdaq100 futures are down 0.73 percent.

The stage is set for another wave of mergers and acquisitions in the U.S. technology sector as the big players, who are flush with cash and looking to expand their horizon, are acquiring aggressively in quest for new products and technology.

The Bank of Korea raised a key policy rate by 25 basis points as the central bank's focus shifted from unchecked inflows of foreign funds to rising inflation.

Futures on major U.S. stock indices point to lower opening on Tuesday, with futures on the S&P 500 down 0.59 percent, futures on the Dow Jones Industrial Average down 0.54 percent and Nasdaq100 futures down 0.75 percent.

German economic sentiment unexpectedly rebounded in November following a continued decline in the past two months.

German sportswear giant Adidas announced on Monday to open more than 2,500 stores in smaller Chinese cities by 2015 aiming to tap the middle class market.

Standpoint Research has initiated coverage on Cisco Systems with a 'buy' rating and a price target of $24 and analyst Ronnie Moas said the market has overreacted to the company's weak outlook.

The top after-market NASDAQ stock market losers are: China Natural Gas, Rightnow Technologies, Netlist, Limelight Networks, Sinovac Biotech, Amedisys, Cray, RINO International, Ebix, and Arbinet.

The top after-market NASDAQ stock market gainers were: Yongye International, Gulf Resources, Urban Outfitters, CEVA, Internet Capital Group, Casual Male Retail Group, Motricity, BioScrip, Natural Alternatives International, and Power Integrations.

Prominent hedge funds loaded up on Apple (NASDAQ:AAPL) shares in third quarter 2010, according to SEC 13F filings.

Stocks on major U.S. indices opened higher as takeovers and faster-than-estimated growth in retail sales fueled optimism in the economy.

The top pre-market NASDAQ stock market losers are: Thoratec, MakeMyTrip, RINO International, Codexis, Biostar Pharmaceuticals, Coleman Cable, BSD Medical, Limelight Networks, Kaman, and Akamai Technologies.

The top pre-market NASDAQ stock market gainers are: Bucyrus International, Isilon Systems, Mediacom Communications, Telestone Technologies, Heartware International, GTSI, Amtech Systems, EDAP TMS, LJ International, and Joy Global.

U.S. retail and food services sales rose more than expected for the fourth consecutive month in October, mainly spurred by a rise in auto and other motor vehicle dealer sales, a report from the U.S. Commerce Department stated.

Manufacturing activity in the New York area worsened in November with the corresponding index going into negative territory for the first time since mid-2009.

Caterpillar Inc., which makes earthmoving machinery, agreed to buy rival Bucyrus International for a total of $7.6 billion, or $92 per share, in cash to boost its presence in the mining equipment industry.

Debt-stricken Greece announced on Monday its budget deficit will contract to 9.4 percent of the GDP this year and said the country has been able to manage a much greater pruning of its deficit than initially calculated, immediately after the European Union Statistical agency revised upwards the country's 2009 deficit to 15. 4 percent.

U.S. wireless broadband and satellite network Lightsquared, owned by hedge fund Harbinger Capital Partners, announced the successful launch of its SkyTerra 1 commercial satellite.

Futures on major U.S. indices point to a small rebound on Monday ahead of key monthly retail sales data.

US dollar strengthened across the board on Monday on expectations of good data signaling recovery, but investors are also cautious that any negative surprise could trigger market worries about more bond buyback by the Fed, sparking off the quantitative easing (QE3) talks.

Japan's economy grew stronger than expected in the third quarter, as a rise in consumer spending offset weakening exports and a strong yen.

Concerns over Europe's debt risks felled Australian and New Zealand dollars - Asia Pacific's major risky currencies - on Monday, while growing fears that China may raise rates further dampened the sentiment. Market is keen on any fresh developments from Europe, with many important EU officials, including Alex Weber of ECB, scheduled to speak on the first day of the Euro Finance Week held November 15-19 in Frankfurt, Germany.

India's annual rate of inflation, based on monthly wholesale price index (WPI), marginally declined to 8.58 percent for the month of October 2010 as compared to 8.62 percent for the previous month and 1.48 percent during the corresponding month of the previous year, according to a government statement on Monday.

Singapore's retail sales (seasonally adjusted) decreased 2.4 percent in September 2010 compared to August 2010, the Singapore Department of Statistics said in a statement.

Gold registered new all-time highs over and over again in the past few weeks and hit a record high of $1424.30 on Tuesday as investors stepped up buying the yellow metal as an effective tool to avoid the risks of inflation and the uncertainties in the global economy.

Dumb money is beginning to pour into gold. However, gold fever has not yet taken over the public imagination and there are still many potential buyers on the sidelines. The rally is therefore likely to continue.

On Friday at the G20 summit, finance ministers of France, Germany, Italy, Spain, and Britain issued a joint statement saying the holders of any existing euro zone government debt are safe from regulatory changes that would force them to take on additional losses.

U.S. stocks fell in early trade on Friday as speculation over interest rate hike in China and concerns about euro-zone sovereign debt weighed on the sentiment.