REVIEW OF SCHOLARSHIP
THURSDAY, Sept. 23, 2010
(1) SUMMARY OF THE SCENARIO:
Asian shares had minor falls on Thursday after weakening on Wall Street. The markets in Japan, South Korea, China and Hong Kong remained closed on account of holidays.
JAPAN: Tokyo markets remained closed on account of the Autumn Equinox (SHUUBIN IN HI) when it begins the fall. This week the temples all have special prayers and visit graves of relatives. In currency markets the U.S. dollar closed down despite the reduced local activity, being the expectation of further intervention by Japanese authorities to weaken the yen. A meeting is planned between the U.S. president, Barack Obama and Prime Minister of Japan, Naoto Kan tonight to discuss this situation.
CHINA: Chinese financial markets closed and only reopened on Monday, in continuation to the Mid-Autumn Festival, which symbolizes the harvest and family reunions. The Chinese worship the moon, offering drinks, fruit and food in the streets, expressing their gratitude for the good harvest and asking the goddess of the moon that brings good luck.
EUROPE: Europe surrenders to gains after disappointing data from the private sector, figures showed a sharp slowdown in September, showing concern for the region's economic recovery. Investors used the excuse to sell stocks with increased sovereign credit.
(2) AGENDA OF THE MARKET:
TODAY:
USA:
9:30 - Initial Claims (claims for state unemployment), weekly.
11:00 - Leading Indicators (already published several indexes, such as claims for unemployment benefits, cost of manpower and construction permits) in August.
11:00 - Existing Home Sales * home sales in the country) in August.
AGENDA FOR THURSDAY:
USA: 9.30 - Durable Good Orders (volume of orders and deliveries of consumer durables, 11:00 - New Home Sales (number of new homes with a commitment to sell).
EUROPE: There are no plans to release economic indicators.
UNITED KINGDOM: No provision is the disclosure of economic indicators.
GERMANY: IFO - Business Climate (business confidence); IFO - Expectations (current conditions and business expectations for the next six months).
(3) WORLD INDEX (7:20 a.m.):
ASIA
Australia: +0.11%
Nikkei: ---%
Hong Kong: ---%
Shanghai Composite: ---%
EUROPE
London - FTSE: -0.97%
Paris Cac 40: -1.07%
Netherlands: -0.91%
Frankfurt - Dax: -0.77%
Madrid IBEX: -0.82%
Zurich: -0.74%
Milan Mib: -0.91%
Moscow RTS: -0.32%
OIL
BRENT: -1.12%
WTI: -0.78%
METALLIC COMMODITIES
COPPER: +0.47%
NICKEL: +0.90%
INDEX FUTURES AMERICAN
Dow: -0.41%
S & P: -0.53%
NASDAQ: -0.29%
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