Yields for Italy, Spain, France, and Germany …
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Asian Markets Rally in Celebration of QE Out of the Bank of Japan
“Asian stocks rose, with a regional benchmark index poised to close at the highest level since May, as the Bank of Japan boosted asset purchases, joining moves by the Federal Reserve last week to stimulate economic growth.”
Comments »Global Markets Trade Higher, U.S. Futures Reach for Higher Ground
Market Update
Equities have managed to pare early morning losses. The DOW has led the charge to greener pastures.
The dollar continues a bounce off recent lows.
Gold, silver, and other metals are in positive territory.
Black gold remains just under the unchanged line.
Apple tops $700 per share while Google hits 52 week highs.
Overall, the markets are digesting last weeks gains and trying to determine how serious a problem Spain may become and what will become of earnings after the down note given by FedEx today.
[youtube://http://www.youtube.com/ watch?v=vI_dKmVya-Y 450 300] Comments »
Risk Indicators Hit a 2 Year Low
Current Account Balance: Prior -$137.3 Bn, Market Expects -$126.8 Bn, Actual -$117.4 Bn
Rising Yields in Spain and Debt Concerns Take the Euro and World Markets Lower
“Stocks (MXWO) fell for a second day and the euro weakened on concern European leaders will struggle to resolve the debt crisis. Spain’s two-year notes stayed lower after a bill auction and commodities dropped.
The MSCI All-Country World Index lost 0.3 percent at 7:35 a.m. in New York, while Standard & Poor’s 500 Index futures slid 0.1 percent. The Shanghai Composite Index dropped 0.9 percent amid escalating tensions with Japan, capping its biggest two-day loss since March. The euro depreciated 0.4 percent to $1.3068 and Spain’s two-year yield added four basis points to 3.37 percent. The S&P GSCI gauge of 24 raw materials slipped 0.5 percent, with nickel down 1.6 percent and soybeans falling 1.7 percent. New York oil declined 0.4 percent.”
Comments »Global Markets Tick Lower, U.S. Futures are Off a Fraction
Empire Manufacturing: Prior -5.9, Market Expects -3.0, Actual -10.41
The Euro and European Stocks Fall on Debt Concerns, Spanish Yields Rise
“European stocks fell from a 15- month high, the euro snapped a four-day rally and Spanish bonds dropped after finance chiefs deadlocked over plans for the banking system and Spaindebated whether to seek a bailout. Chinese shares slumped, along with copper and soybeans.
The Stoxx Europe 600 Index lost 0.3 percent at 6 a.m. in New York, while Standard & Poor’s 500 Index futures slipped 0.2 percent. China’s Shanghai Composite Index (SHCOMP) sank 2.1 percent amid concern the world’s second-largest economy is slowing and as tensions with Japan escalated. The euro weakened 0.2 percent to $1.3107. Spain’s two-year note yieldclimbed as much as 15 basis points to 3.29 percent, the highest since Sept. 6. Copper slid 0.4 percent and soybeans retreated 1.6 percent.”
Comments »Asia Rallies, Europe Falls, and U.S. Futures Trade Flat
The Market’s P/E Ratio Is Lower Now Than It Was Most of the Time from 1991 to 2010
What’s interesting is that despite the higher valuation’s, the S&P 500’s Price/Earnings Ratio is still lower now that it was at any point from March 1995 to October 2008. And except for some brief periods, the market’s P/E Ratio is currently lower than it was during the vast majority of the time from 1991 to 2010.
Read the rest here.
Comments »Market Update
July Business Inventories: Prior 0.1%, Market Expects 0.4%, Actual 0.8%
CPI: Prior 0.0%, Market Expects 0.6%, Actual 0.6%
Retail sales up 0.9% vs consensus 0.7%
Comments »Global Markets Feel the Power of a Clam Inspired Cocaine Hit, U.S. Futures Respond in Kind After a Monster Rally
Initial Claims: Prior 365k, Market Expects 369k, Actual 382k
Asia Trades Mixed, Europe is Down, and U.S. Futures are Off a Bit
Machinery Orders Rise More Than Expected in Japan
“Japan’s machinery orders rose more than forecast in July even as weakness in exports and waning subsidies for auto purchases threaten to stifle economic growth.
Orders, an indicator of capital spending, climbed 4.6 percent from the previous month, after gaining 5.6 percent in June, the Cabinet Office said today in Tokyo. The median estimate of 29 economists surveyed by Bloomberg News was for a 2 percent increase. Large orders can cause volatile results.
Today’s data and a pick-up in manufacturers’ confidence signal some resilience in an economy that Bank of America Merrill Lynch says is at risk of contracting this quarter. Japanese exports may benefit from U.S. and Chinese efforts to spur demand, with the Federal Reserve meeting this week and Premier Wen Jiabao saying yesterday that his nation has ample fiscal and monetary room to support growth.”
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