- Asia initially rallied on heels of strong US jobs data from last Friday...but faded and ended lower on concerns ahead of China's inflation data tomorrow and ongoing credit fears despite a further reduction in money market rates. Also, Japan's current acct surplus was wte (worse than expected). And Japan's Economy Watchers Index fell more-than-expected.
- Japan utility stocks opened stronger on word that several were applying for approval to restart nuclear palnt operations.
- Europe was strong early on heels of US rally last Friday. Data was generally wte including Germany's trade surplus and industrial production, both wte.
- Greece...EU and IMF appear to have reached agreement on approving next tranche of bailout funds. Troika (ECB, IMF, and European Commission) and Greece reached deal on reduction of public sector staffing, one of the hotly contested issues. If approved by Euro fin mins, would be key for Greek leader who's parliamentary coalition majority is thin.
- Portugal...political crisis appears to be in rearview mirror (for now) as minister from the junior coaltion partner party who resigned last week was promoted to deputy prime minister.
- Egypt....crisis continues. Weekend attempts to install elBaradei to PM fail. Protests from both sides flare.
- US..earnings season begins tonight w/Alcoa.
Please continue to visit Soos Global Market Musings for updates.
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(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
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Additional Disclaimer: currently long many stocks/ETFs. Positions may change at any time without notice.
(Sign up to "Follow by Email"! And share with others!)
(Please note: This article is solely meant to be thought provoking and is not in any way meant to be personal investment advice. Each investor is obligated to opine and decide for themselves as to the appropriateness of anything said in this article to their unique financial profile, risk tolerances and portfolio goals).
Disclaimer: Please read and consider important information related to all communication made by Soos Global on this site by clicking here.
Additional Disclaimer: currently long many stocks/ETFs. Positions may change at any time without notice.
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