"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!!
5:15am ET...
- Markets mixed, on either side of flat, in Asia as the Syria situation is watched closely on the heels of President Obama's speech last night where he postponed the request of Congress to vote on military option, and said the latest Russian proposal on Syria turning over their chemical stockpile would be played out first.
- Australia...equity market hits five year high on the heels of recent better economic data out of China, and a strong Consumer Sentiment Survey.
- India...yesterday's better than expected trade data showing a drop in imports and surge in exports helped both the equity and currency rally yesterday, though stalling today. The markets had been in virtual free fall for most of the summer, but have started to come back some since late August. Latest data first meaningful positive sign re current account deficit in a long time.
- European markets also mixed.
- UK..Unemployment data better than expected, dropping to 7.7% fr 7.8%.
- Company news with possible broader market implications:
- Apple (AAPL)...yesterday's release of new iPhone 5 met with disappointment by the market w/AAPL down yesterday and in overnight trading. Product pricing (too high) and functionality (not a 'wow') appeared to be the culprits.
- Verizon (VZ)...record size bond deal (needed for their acquisition of Vodafone's (VOD) stake in Verizon Wireless) to be priced today. Estimated size @ $40B. Demand indicated strong at over double that amount!! Maturities across eight tranches across the curve.
- more later....
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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 incl VZ. Positions may change at any time without notice.
(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 incl VZ. Positions may change at any time without notice.
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