REVIEW OF SCHOLARSHIP
FRIDAY, Sept. 24, 2010
(1) SUMMARY OF THE SCENARIO:
Bad news of the economies of Europe and USA, as well as weakness on Wall Street helped to decrease in most Asian markets on Friday.
JAPAN: Declining markets in Tokyo were prominent, with investors nervous about the trend strong yen and rising tensions with China over the maritime accident, which resulted in the arrest of a captain of a trawler Chinese by Japanese authorities. Concerns intensified after Japan's Minister of State for Economic and Fiscal Policy Banro Kaieda alert for "serious risk" of the episode because there was a slowdown in trade and tourism with China. Stocks in Tokyo closed lower due to the disappointment of investodores speculating on further intervention by Japanese authorities in exchange. The U.S. dollar also closed down. Azar of exporters who fell once again this session.
CHINA: Hong Kong stock market closed higher with fewer businesses and the Shanghai Stock Exchange is closed due to the holiday spot. President Barack Obama has asked the Chinese premier Wen Jiabao to take quick action to resolve the imbrólio on the value of Chinese currency, because China insists on keeping its currency artificially weak. Obama made it clear that the United States protects its economic interests.
EUROPE: European stocks fell Friday, despite the surprising rise in German business sentiment on the global economy rose to 106.8 in September, down from 106.7 in August. That news boosted the euro.
The French national statistics office revised up in the second quarter GDP growth to 0.7% against 0.6% previously reported. Banks fall as tech sector rise.
(2) AGENDA OF THE MARKET:
TODAY:
USA:
9.30 - Durable Good Orders (volume of orders and deliveries of durable goods in the period) in August.
10h00 - Speech by Elizabeth Duke (member of the Federal Open Market Committee).
11:00 - New Home Sales (number of new homes with a commitment to sell) in August.
17h00 - Speech by Ben Bernanke (Federal Reserve Chairman).
AGENDA FOR MONDAY:
USA: There are no plans to release economic indicators.
EUROPE: M3 Money Supply (details of means of payment including currency in circulation, deposits and mutual funds for short and long term), Private Loans (rate loans to the private sector).
UNITED KINGDOM: No provision is the disclosure of economic indicators.
GERMANY: No provision is the disclosure of economic indicators.
(3) WORLD INDEX (7:05 a.m.):
ASIA
Australia: -0.61%
Nikkei: -0.99%
Hong Kong: +0.33%
Shanghai Composite: ---%
EUROPE
London - FTSE: -0.38%
Paris Cac 40: -0.51%
Netherlands: -0.52%
Frankfurt - Dax: -0.43%
Madrid IBEX: -0.38%
Zurich: -0.33%
Milan Mib: -0.50%
Moscow RTS: -0.32%
OIL
BRENT: +0.35%
WTI: +0.60%
METALLIC COMMODITIES
COPPER: +0.47%
NICKEL: +0.90%
INDEX FUTURES AMERICAN
Dow: + 18%
S & P: +0.17%
NASDAQ: +0.30%
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