Morning Memo: Tuesday, September 3, 2013

"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!!
5:30 a.m. ET....

• Monday (Labor Day in US) was a strong day in Asian equity markets following China's Manufacturing PMI data released on Sunday.  It was better than expected @ 51.0, highest level in 16 months.
• Eurozone PMIs also better than expected (yesterday's data), which helped rally markets while the US was closed for Labor Day.  Monday's rally was best daily percentage performance for the broad European market index in almost two months. Tuesday morning, European markets opening slightly lower.
• Yen weakened overnight, with USD approaching the 100 level. That helped push the Nikkei up 2.6%,
• China's Non-manufacturing PMI @ 53.9 slipped slightly from July's 54.1 but still shows expansion (>50).
• Australia...left rates unched, as expected.
• Big M&A deals over the long weekend:  Verizon buying Vodafone's stake in their wireless jv.  Microsoft buying Nokia's mobile device unit.
• Syria...will the US go it alone re a military strike in retaliation for use of chemical weapons?  Will the President get Congressional support?  Pending....
• US...employment data coming on Friday. 
• US..ISM Mftg data strongest pace in two years.
• more later...

Please continue to visit Soos Global Market Musings for updates.
(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, including VZ.  Positions may change at any time without notice.