The "Obesi-fication" of America
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"Morning Memo" begins below this "NOTE for NEWCOMERS" to "Morning Memo"...... Each morning, we post a short bullet-point list of noteworthy events, data, etc that find their way into the assessment of global markets. It's far from complete and is not meant to be an exhaustive reconciliation of all things that could possibly impact stocks, bonds, currencies and commodities! Rather, it's best viewed as a cryptic memo of "highlights", noteworthy items that took place in Asia, European and US hours.....and color-coded 'Red' for seemingly negative impact on equity markets, 'Green' for positive.
This will also serve as a useful review mechanism, as scrolling through the series of "Morning Memo" posts over time ought to summarily highlight what generally drove price action.
We hope you find this useful and informative....and as always, that you'll share feedback!!
5:30am, ET....
- Asia markets generally higher overnight led by a more than 2% surge in the Nikkei on a weaker Yen vs USD, and on the heels of yesterday's lower 4-wk moving average in US Jobless Claims and stronger PMI numbers in China and Germany.
- China's markets were the exception, falling on liquidity concerns.
- Japan..Tepco shares fall hard on reports of new radioactive leaks from the tsunami damaged Fukushima plant.
- China...non-financial Foreign Direct Investment (FDI) into the country rose a faster pace in July, 24% y/y, $9.4Bn. (vs China's outbound direct investment $50.6Bn)
- Indonesia...the gov't formally lowered GDP estimate for the year to sub 6% fr prev 6.3% and announced new policies to deal w/sinking Rupiah.
- European markets are mostly lower after yesterday's strong day fueled by PMI data.
- Germany's GDP confirmed at 0.7%, in line.
- UK..Q2 GDP revised up to 0.7% fr orig 0.6%, better than expected.
- US..late yesterday, Moody's put Goldman, JPMorgan, BofA, Citi and Wells Fargo on review with implications for possible downgrade given an environment of less gov't support.
- US..New Home Sales disappoint! lower than expected and downward revisions to prior months! See CalculatedRiskBlog for details.
- more later....
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).
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.
(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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