Aug 09
27
Greg Secker – Global Market update
Yesterday, notes Mr Secker, , the Dow Jones industrial average ended the session up 4.23 points to close at 9,543.52. Yesterday, notes Mr Secker, , the Nasdaq Composite Index closed up 0.2 points to close at 2,024.43.The S and P 500 index added 0.12 points to close up at 1,028.12. U.S stocks fluctuated within their closing session before finishing in green due mainly to today’s US mixed data, having on one hand the durables goods orders for July rising to the upside and coming in better than forecasts, while that the durables ex transportation came in worse than expectations, not forgetting overall New Home Sales for July showed an inclined, while major energy shares rose today despite that oil prices declined after the EIA report showed increased inventories
US durable goods orders and new home sales both soared last month, which is the latest positive indications of the world’s largest economy. The Commerce Department said Orders for goods expected to last more than three years increased 4.9% in July, beating analyst expectations of a 3% gain. This is its largest rise since June 2007. The Philippines has avoided slipping into recession after its economy performed better than expected in the second quarter, this has happened as most other Asian economies begin to emerge from at least two consecutive quarters of decline.
Euro zone M3 annual growth 3.0%, weaker than median forecast of 3.2%. German Gfk September consumer sentiment indicator up at 3.7 from 3.4 in August, exactly as expected. Strongest read in 15 months. France’s Bloomberg Retail PMI Rises. France released its Bloomberg retail PMI for the month of August, it came in at 47.3, which is higher than the prior reading of 46.0.The Italian Bloomberg Retail PMI slumped. The Italian Bloomberg Retail PMI for August; plummeted from 45.6 to 44.0, in July. Consumer Confidence in Italy has beat expectations. The Consumer Confidence, seasonally adjusted for August, in Italy surged to 111.8 from 107.5 prior and 107.9 predicted.
Due for release today, according to Greg, there are the USD Personal Consumption, USD Core Personal Consumption Expenditure, USD Gross Domestic Product Price, USD Initial Jobless Claims, JPY Manufacturing PMI and JPY Jobless Rate.
