A Quick Glance at News

·    Asian shares rose to three-week highs and the euro hit a four-month peak against the dollar on optimism that a German court will approve the legality of the euro zone's bailout fund later on Wednesday and the U.S. Federal Reserve may ease this week.

·  The dollar hit a four-month low against a basket of currencies on Wednesday, hurt by expectations of more U.S. monetary easing and a warning from Moody's the previous day that it could cut the credit rating of the United States.

·   The Dow industrials closed at the highest level in nearly five years on Tuesday in a lightly traded session before key decisions in Germany and the United States that could give markets a further boost.

·   The Federal Reserve is likely to announce a third round of bond purchases tomorrow, according to almost two-thirds of economists in a Bloomberg survey, while also extending the duration of its zero-interest-rate policy into 2015.

·    Chinese Premier Wen Jiabao said the nation has room for fiscal and monetary measures to support growth and will meet this year’s economic goals, triggering gains in Asian stocks.

·      Gold futures edged higher during Asian hours Wednesday, ahead of a court decision in Germany and amid growing expectations for fresh monetary measures from the U.S.

·      Oil traded near the highest level in three weeks amid speculation China and the U.S. will add stimulus to their economies, sustaining demand for fuel in the world’s biggest crude use.

·      Facebook Inc CEO Mark Zuckerberg soothed investors in his first major public appearance since the No. 1 social network's rocky May IPO, breathing life into its struggling shares after hinting at new growth areas from mobile to search.

·      Burberry Group Plc’s (BRBY) flagging sales growth suggests an end to a three-year rally in the luxury-goods industry as wealthy shoppers cut back on past indulgences.

·  Moody’s Investors Service said it may join Standard & Poor’s in downgrading the U.S.’s credit rating unless Congress next year reduces the percentage of debt- to-gross-domestic-product during budget negotiations.

·      Australian shares moved higher on Wednesday, ahead of a German court decision on the European currency bloc's rescue fund and the start of a two-day interest-rate meeting at the U.S. Federal Reserve.

·     United Natural Foods Inc. said Tuesday its fourth-quarter profit increased 46% to $25.1 million, or 51 cents a share, from $17.2 million, or 35 cents a share, in the year-ago period.

·    Texas Instruments on Tuesday narrowed its earnings and sales outlook for the third quarter. The chipmaker said it now expects revenue in the range of $3.27 billion to $3.41 billion, compared with a previous range of $3.21 billion to $3.47 billion.