employers added 204,000 jobs in October, an unexpected burst of hiring during a month in which the federal government was partially shut down for half the month. The unemployment rate rose to 7.3 percent from 7.2 percent. The report was much stronger than economists were expecting. They were forecasting that 130,000 jobs were created, according to FactSet. It was the second piece of unexpectedly robust economic news that Wall Street received in the past two days. The Commerce Department said Thursday that the U.S.
Moreover, stock-index futures’ initial response to the Friday jobs data was to fall, though stocks rebounded during the day. The S&P 500-stock index added 23.46 points, or 1.3%, to 1770.61, capping a 0.5% increase for the week, its fifth consecutive weekly gain. The Nasdaq Composite Index rose 61.90 points, or 1.6%, to 3919.23, but fell 0.1% on the week. Year to date, the S&P 500 is up 25% on a total-return basis, which includes dividend payouts.
The answer is yes, says Kishor P. Ostwal, chairman and managing director, CNI Research Ltd. Ostwal further adds that foreign institutional investors own substantial part in the Sensex and CNX Nifty stocks and they will also book profits and look for opportunities in the broader market. Agrees Daljeet S. Kohli, head of research, IndiaNivesh Securities Pvt. Ltd.
In addition to searching through SEC filings for investors that are building controlling interests in companies, we like to run a series screens to search for stocks that have a 100% to 200% potential upside, combined with limited downside risk. Many times, when we find stocks that fit the bill, we will find a big investor already involved. In running our screens for the first week of November, the following five stocks have hit our radar as high potential, deep value candidates, plus they all have the what stocks to by presence of a huge private equity firm: 1) Dice Holdings, Inc. (DHX) has a current share price $7.49. The $15 billion dollar private equity firm General Atlantic, LLC owns more than 15% of this stock. 2)Noranda Aluminum Holding Corp (NOR) has a current share price $3.04. Apollo Global Management, the $22 billion dollar private equity firm, owns more than 48% of NOR.
A report that showed strong growth in Chinese exports last month was not enough to counter investor caution. Japan’s Nikkei 225 sank 1.3 percent to 14,041.95 while Seoul’s Kospi dropped 0.8 percent to 1987.79. Hong Kong’s Hang Seng slid 0.6 percent at 22,746.53. In mainland China the Shanghai Composite fell 1 percent to 2,106.95 while the smaller Shenzhen Composite Index tumbled 1.5 percent to 996.23. Australia’s S&P ASX 200 fell 0.8 percent to 5,390.40.
Kingdom Holding Co. (KINGDOM) , the investment company owned by Prince Alwaleed Bin Talal , rose 3.4 percent to the highest since Dec. 2007. Clashes between Saudi police and foreign nationals in Riyadh killed two people, including a Saudi citizen, as the government implements a nationwide crackdown on undocumented workers.