"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!!
5:00am ET...
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!!
5:00am ET...
- Asia....mostly lower with a cautious tone ahead of ECB and BOE meetings today, US Q3 GDP data today, labor data (NFP) tomorrow and China's Communist Party Plenum on Saturday.
- Australia...employment data disappoints. Rises by only 1,100 vs 10,000 expected. Unemployment was unched @ 5.7%. Analysts note that the RBA's rate cutting has not done much to improve labor markets, but has driven home prices higher.
- Russia...cut its long-term growth forecasts (annual growth rates out to 2030) to 2.5% annually from 4.3%.
- Europe...generally lower ahead of ECB and BOE meetings. (Recent slip in inflation readings has many anticipating a cut by the ECB.)
- Of interest:
Some of the world's richest are holding their cash. What're they waiting for? http://t.co/h4wear7j8o by @HibahYousuf pic.twitter.com/ZbKpKoOzTp
— CNNMoney.com (@CNNMoney) November 6, 2013 - more later....
- LATER:
- ECB cuts 25bps!!! Rates @ 0.25%.
- US GDP Q3 beats at 2.8%. That's the good news. The not so good news is that growth was boosted by an uptick in inventories which could be tapered off in Q4. Also, Consumer spending was underwhelming, rising 1.5%, compared to Q2's 1.8% rise. Housing remained strong.
China grants U.S. investors indirect access to stocks http://t.co/m2UBqRPlvv
— MarketWatch (@MarketWatch) November 7, 2013
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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.
(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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