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U.S. hiring data expected to show modest progress

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<tr><td class="tr-caption" style="text-align: center;">U.S. hiring data expected to show modest progress</td></tr>
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<a href="http://www.newsupdate360.com/2013/08/us-hiring-data-expected-to-show-modest.html">U.S. hiring data expected to show modest progress</a></h2>
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 U.S. employers likely hired enough workers in July to push the jobless rate to a near four-year low, which could bolster expectations the Federal Reserve will start drawing down its<br />
 huge economic stimulus program later this year.<br />
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The number of jobs outside the farming sector could increase by 184,000, with the unemployment rate ticking down a tenth of a point to 7.5 percent, according to a Reuters poll of economists.<br />
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While the U.S. economy has appeared stuck in low gear since exiting the 2007-09 recession, the job market has inched toward recovery at a steady pace.<br />
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July's expected growth in payrolls, while a slight downshift from the pace in June, would essentially match the average monthly gain clocked since 2011.<br />
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"The U.S. economy is grinding along for the better, but it's going to be a long and slow grind," said Tanweer Akram, an economist at ING U.S. Investment Management in Atlanta.<br />
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The Labor Department will release its monthly employment report at 8:30 a.m. EDT on Friday. The expected drop in the jobless rate would take it back to April's level, which was the lowest since December 2008.<br />
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The data could reinforce the view that the U.S. recovery has advanced enough to get by with less help from the Fed, which currently buys $85 billion a month in bonds to keep borrowing costs low.<br />
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The stimulus program has lowered interest rates, spurring growth in the country's beleaguered housing market and boosting car sales. Fed Chairman Ben Bernanke said last month the U.S. central bank would likely reduce the level of monthly purchases by the end of the year, and end them by mid-2014.<br />
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The Fed's policymaking committee wrapped up a two-day meeting on Wednesday without any change to the program. The panel's statement, however, referenced new factors that could be seen as risks to growth: a recent rise in mortgage rates and persistently low inflation. Central bank policymakers next meet in September.<br />
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STRUCTURAL CONCERNS<br />
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Many economists believe another month of trend-rate hiring would lead the Fed to trim its bond buying in September.<br />
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But Friday's jobs report could also entertain darker views on the economy.<br />
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For one, analysts wonder if the pace of job creation can be sustained given slower-than-expected economic growth.<br />
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Gross domestic product, a measure of the nation's economic output, grew at a mere 1.4 percent annual rate in the first half of the year, down from 2.5 percent in the same period of 2012.</div>

U.S. hiring data expected to show modest progress U.S. hiring data expected to show modest progress U.S. employers likely hired eno...

Asian shares buoyed by U.S. data, accommodative central banks

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<tr><td class="tr-caption" style="text-align: center;">Asian shares buoyed by U.S. data, accommodative central banks</td></tr>
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<a href="http://www.newsupdate360.com/2013/08/asian-shares-buoyed-by-u.html">Asian shares buoyed by U.S. data, accommodative central banks</a></h2>
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Asian shares advanced on Friday after brisk U.S. factory activity data and a commitment to easy monetary policy by European central banks and the Federal Reserve buoyed Wall Street to record highs overnight.</div>
Stirred by optimism on the U.S. economic recovery, the yield on benchmark U.S. Treasuries edged closer to a two-year high and triggered a sharp rebound in the dollar from a six-week low hit against a basket of currencies on Wednesday.<br />
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European shares look set to reach highs not seen for more than two months, with Germany's Dax (.GDAXI) seen rising as much as 0.5 percent, the France's CAC 40 (.FCHI) 0.3 percent, and Britain's FTSE (.FTSE) 0.2 percent.<br />
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U.S. stock futures pointed to further gains later in the day.<br />
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A strong reading in U.S. payrolls data, due at 1230 GMT (8.30 a.m. ET), would likely to stoke momentum in markets, possibly pushing the 10-year U.S. yield to new two-year highs.<br />
"Essentially, the market is waiting for a global economic recovery in the latter half of this year," said Tohru Yamamoto, chief fixed income strategist at Daiwa Securities.<br />
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"We had a decent Chinese manufacturing data yesterday. Periphery European countries are also improving recently. And central banks have confirmed that easy policy will be in place. These are the reasons why a rise in bond yields are not destabilizing share prices today, unlike in June," he added.<br />
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The European Central Bank and the Bank of England both ended policy meetings by leaving interest rates at record lows on Thursday, a day after the Fed said the U.S. economy still needed its support and avoided any mention of a change to its stimulus measures.<br />
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Japan's Nikkei share average (NIK:^9452) rose 2.7 percent, while ex-Japan Asian shares gained 0.3 percent <.miapj0000pus>.<br />
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Shares in South Korea (.KS11) and Hong Kong (.HSI) hit two-month peaks while Australian stocks (.AXJO) rose to a 2 1/2-month highs.<br />
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On Thursday, the Dow Jones index (.DJI) rose 0.8 percent and S&P 500 (.SPX) gained 1.3 percent to end above 1,700 for the first time ever.<br />
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The dollar index held onto Thursday's gains of 1.1 percent, its biggest one-day rally in a month, to stand at 82.318 (.DXY), extending its rebound from six-week low of 81.407 hit on Wednesday.<br />
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The broad rally in the dollar saw the euro ease to $1.3206, flat on the day but off Wednesday's six-week high of $1.3345, while the yen fell towards 100 per dollar, well off this week's high around 97.58.<br />
The Australian dollar hit a three-year low as the currency was still smarting from dovish comments by the Reserve Bank of Australia (RBA) on Tuesday.</div>

Asian shares buoyed by U.S. data, accommodative central banks Asian shares buoyed by U.S. data, accommodative central banks Asian sh...

Chinese supercomputer named as world's fastest

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<span class="entry-title">Chinese supercomputer named as world's fastest</span></h1>
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<span class="entry-title">Chinese supercomputer named as world's fastest</span></h3>
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<span class="entry-title">Chinese supercomputer named as world's fastest</span></div>
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BEIJING (AP) — A Chinese university has built the world's fastest supercomputer, almost doubling the speed of the U.S. machine that previously claimed the top spot and underlining China's rise as a science and technology powerhouse.<br />
The semiannual TOP500 listing of the world's fastest supercomputers released Monday says the Tianhe-2 developed by the National University of Defense Technology in central China's Changsha city is capable of sustained computing of 33.86 petaflops per second. That's the equivalent of 33,860 trillion calculations per second.<br />
The Tianhe-2, which means Milky Way-2, knocks the U.S. Energy Department's Titan machine off the No. 1 spot. It achieved 17.59 petaflops per second.<br />
Supercomputers are used for complex work such as modeling weather systems, simulating nuclear explosions and designing jetliners.<br />
It's the second time a Chinese computer has been named the world's fastest. In November 2010, the Tianhe-2's predecessor, Tianhe-1A, had that honor before Japan's K computer overtook it a few months later on the TOP500 list, a ranking curated by three computer scientists at universities in the U.S. and Germany.<br />
The Tianhe-2 shows how China is leveraging rapid economic growth and sharp increases in research spending to join the United States, Europe and Japan in the global technology elite.<br />
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"Most of the features of the system were developed in China, and they are only using Intel for the main compute part," TOP500 editor Jack Dongarra, who toured the Tianhe-2 facility in May, said in a news release. "That is, the interconnect, operating system, front-end processors and software are mainly Chinese."</div>
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