A Quick Glance at News

v  Fed Expands Operation Twist by $267 Billion through 2012.The Federal Reserve will expand its Operation Twist program to extend the maturities of assets on its balance sheet and said it stands ready to take further action to put unemployed Americans back to work.

v  Asian stocks outside Japan fell, with the regional benchmark index retreating from a one-month high, as a survey showed China’s manufacturing may shrink for an eighth month and after the Federal Reserve cut its U.S. growth estimate and expanded its Operation Twist program
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v U.S. stocks dropped, following a four-day gain in the Standard & Poor’s 500 Index, as the Federal Reserve cut its estimates for growth amid a slowdown in hiring.

v Oil dropped to the lowest price in eight months in New York after U.S. stockpiles unexpectedly increased and a report signaled China’s manufacturing will shrink this month.

v Gold slipped for a third straight day on Thursday after the U.S. Federal Reserve stopped short of launching another round of quantitative easing to stimulate the economy, a move that could have boosted bullion's appeal in times of uncertainty.

v U.S Treasury bonds firmed slightly in Asia on Thursday, as most Asian equities markets weakened on disappointment that the U.S. Federal Reserve's easing steps weren't more aggressive, which sapped investors' risk appetite and underpinned demand for bonds.

v Bank of Japan policymaker Koji Ishida on Thursday stressed the central bank's resolve to continue pursuing powerful monetary easing, warning of a bigger-than-expected slowdown in overseas growth as Europe's simmering debt crisis keeps markets jittery.

v The International Monetary Fund has warned of significant risks to the world economy from the European debt crisis and excessive fiscal tightening in some rich nations, urging collective action to lower unemployment.

v Canada is set to tighten mortgage rules on Thursday as it seeks to cool a heated housing market, cutting the term of mortgages and reducing the amount a home buyer can borrow, the Canadian Broadcasting Corporation said.

v  Samsung Electronics Co.  the world’s biggest mobile-phone maker by sales that counts China and the U.S. as its biggest markets dropped 1.6 percent in Seoul. BHP Billiton Ltd., the world’s largest mining company and Australia’s No. 1 oil producer, declined 1.2 percent in Sydney as crude and copper futures fell.

v Companies are cutting back as the economy shows signs of slowing. FedEx Corp., operator of the world’s largest cargo airline, is restructuring its express business and retiring 24 jet freighters.

v Citigroup Inc. (C)’s book value could take a $3 billion to $5 billion “hit” this quarter as currencies in some of its biggest markets decline against the U.S. dollar, said Charles Peabody of Portales Partners LLC.

v Starbucks Corp. (SBUX), the world’s largest coffee-shop operator, will open its first tea-only store in October under the Tazo brand.