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Market Update

Hopium in Wide Supply Today as Markets Did Not Crash

The markets managed to hold their ground today as rumors swirled of a plan to create a master plan. An ECB official did give hope when he stated the ECB is considering direct bank recapitalization. Also the markets may be waiting to see what the clam says on Thursday.

DOW down 17

S&P up .13

NASDAQ up 19

Gold down $0.70

the 10 year sits @ 1.49%

Oil up $0.95

[youtube://http://www.youtube.com/watch?v=U7fCsEER7t8&feature=relmfu 450 300] [youtube://http://www.youtube.com/watch?v=KplIDqkVhOg 450 300]

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FLASH: Asian Stocks Continue to Slide

Asian stocks slid on Monday as disappointing U.S. jobs data added to concerns over a slowing Chinese economy and a deepening euro zone debt crisis.

The flight from risk also weighed on bonds, with the benchmark Japanese government bond yield dropping to a nine-year low. The 10-year JGB yield fell 2 basis points to 0.790 percent, its lowest level since July 2003.

The FTSE CNBC Asia 100 Index [.FTFCNBCA  5583.19    -75.04  (-1.33%)], which measures markets across Asia, slipped 0.6 percent.

Japan’s Nikkei average [.N225  8262.82    -177.43  (-2.1%)] shed 1.9 percent at the open to 8,278.65, while the broader Topix shed 1.9 percent to 695.67.

Nomura shares tumbled 4 percent after it replaced the head of institutional sales at its core securities unit, following an escalating investigation by regulators into its suspected role in insider trading.

Nintendo fell 1.5 percent despite it announcing its much anticipated successor to its Wii games console, the Wii U, will come with an online social network, dubbed Miiverse, to connect gamers.

Seoul shares tanked 2.8 percent at the open, down for a fourth straight session after weaker-than-expected U.S. jobs data aggravated fears of a global economic slowdown.

The Korea Composite Stock Price Index (KOSPI) [.KS11  1792.12    -42.39  (-2.31%)   ] fell 51.67 points to 1,783.5 points.


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