Major Indices rise in US before the holiday - ZENmoney

On the US markets, major indices rose as traders squared positions before the holiday and ahead of Friday's job market data.AMixed US data failed to give the market solid direction. Arise in Private-sector employers data and a fall in weekly jobless claims, while growth rate in the services sector slowed in June and the US trade deficit widened on a drop in exports. The signs of slowing growth in China and deepening political turmoil in Portugal capped the upside in the equities.

On the European front, the British benchmark indices fell due to lacklustre Chinese data along with a political crisis in Portugal caused by disagreements over austerity measures coupled with expectations that the US Federal Reserve will scale back the economic stimulus measures that have driven the equity rally. Banks fell as Barclays Plc, Deutsche Bank AG and Credit Suisse Group AG had their credit ratings lowered by S&P's on the back of new rules and 'uncertain market conditions' threaten their business.

Nikkei opened the session on a negative note with investors cautious as key events including the European Central Bank meeting and the US non-farm payrolls report loomed. The market took cues from a overnight fall in US market on the back of mixed economic data coming from US and deepening political turmoil in Portugal coupled with China's growth concerns.

Source : Equity Bulls

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