Agree. I have sent JCP gift cards to all my children for the coming shopping! Spending makes people happy and helps US and world economy. Don't worry about the debts for now. Fed can print money as much as it wants. If US is down and world is down.
November 6, 2013 6:17 am
Sinopec has become the latest state-backed entity to take steps aimed at boosting China’s flagging stock market, ahead of an important Communist party leadership meeting this weekend.
The oil producer’s parent company said in a statement to the stock exchange on Wednesday that it bought back more than 6m of Sinopec’s Shanghai-listed shares on Tuesday and would spend as much as $17bn purchasing stock over the next 12 months.
Shares in Sinopec, China’s fifth-largest listed company by weighting, accounting for almost 3 per cent of the Shanghai Composite index, were up 3.3 per cent early on Wednesday afternoon, while the broader market was down 0.4 per cent.
Analysts said policy makers were keen to improve investor sentiment ahead of the November 9-12 plenary session, the most anticipated event of the year, in order to help make the case for economic and financial reforms.