Friday, March 21, 2008

Asian markets higher

Asian markets were generally open, reporting nice gains in light trading.

While US markets are closed, business goes on. Alcoa (AA), a Dow company, is being investigated by the Justice Dept to see if bribery laws were violated in Bahrain (on the Persian Gulf). AT&T (T), another Dow company, will make an advance payment of $1.3B for its portion of wireless spectrum licenses recently won & the remaining $5.3B will be paid in the next few weeks. This wireless spectrum is key in expanding US telecommunications.

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