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On the Comex division of the New York Mercantile Exchange, gold for December delivery traded down 0.13% to $1,112.30 a troy ounce.

The already tepid August jobs level of 173,000 was revised sharply lower to 136,000, surprising analysts who had anticipated a large upward revision which is typical for that month.

The Federal Reserve decided not to lift its key interest rate about two weeks ago, but New York Fed President William Dudley says a rate hike will likely come before 2016.

The number of new applications for USA jobless benefits rose modestly last week and a gauge of the trend in claims fell, pointing to ongoing tightening in the labor market that could push the Federal Reserve to raise interest rates.

And a few worse-than-expected news for the economy is out this hour.

The Nasdaq composite was little changed at 4,544. Wall Street looked set for gains, with futures for the Dow Jones industrial average and the Standard & Poor’s 500 up 0.3 percent.

Yahoo! said it will go ahead despite a risk of a multi-billion dollar tax bill after the U.S. Internal Revenue Service denied its request to considered tax free deal.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was up 8.70 points, or 0.62 percent, to 1,419.86.

“Therefore, the Reserve Bank has front-loaded policy action by a reduction in the policy rate by 50 basis points”. As it is, the ASSOCHAM does not expect the exports to go beyond Dollars 268 billion in the current fiscal as against USD 310 billion.

Take for instance, The State Bank of India (SBI) country’s largest lender slashed its lending rate by 0.40 per cent. The new rate will stand at 9.30 per cent from 5 October onward.

RBI Governor Raghuram is widely expected to announce this year’s fourth rate cut tomorrow and expectations for the same have further increased after the US Fed’s status quot.

Banking stocks continue to reel in the wake of the Fed decision as hopes that higher rates would translate to fatter profits on loans have been dashed.

First, the Reserve Bank of India has been saying that monetary policy will be in the neutral gear when policy interest rates are two percentage points above the inflation rate.

In Australia, the market on Monday lifted more than 1 per cent on the back of a strong performance by the banks and a big merger in the telco sector.

Investors sold even some of the year’s most resilient stocks.