Welcome, Guest. Please login or register.

Author Topic: Euro Zone Members  (Read 650 times)

0 Members and 2 Guests are viewing this topic.


  • Hero Member
  • *****
  • Posts: 734
  • Karma: 1
    • View Profile
Euro Zone Members
« on: September 28, 2011, 03:14:19 PM »
Daily Market Commentary for September 28, 2011

Finland’s parliament approved changes to the rescue fund that were agreed upon by euro-zone leaders during July and must be approved by all euro zone members. (read more at Millennium-Traders.Com) http://www.millennium-traders.com/news/newscommentary.aspx

Commerce Department reported orders for U.S. durable goods fell slightly during the month of August as demand shrank for motor vehicles and certain large defense goods. Additionally, bookings for U.S. made products designed to last at least three years dipped 0.1% in August after a 4.1% gain during the month of July. Slower demand for durable goods is a worrisome sign for the U.S. economy whose growth over the past year has been spearheaded by manufacturing and exports. Fresh worries about the economy and growth could slow even further if companies cut back on capital investments. During August, most of the declines were centered on autos and large defense products - excluding aircraft. These orders frequently swing sharply from one month to the next. Technology in particular, fared much better which suggests that the broader U.S. manufacturing sector has not weakened quite as much. Marking the largest drop since February 2010, bookings for motor vehicles fell the most, down 8.5%. Orders for “defense capital goods” such as large weapons decreased by 5.7% and bookings for primary metals fell by 0.8%. Orders minus defense dropped 0.1%. After sinking 7.3% in July, orders for computers, for example, jumped 5.5% while bookings for communications gear shot up 7.8% during August after a 21.1% plunge two months ago. The closely watched category which gives a better read on trends in the private sector because it excludes transportation and government spending on defense - orders for core capital goods climbed 1.1%. Shipments of core capital-equipment goods, which the government uses to help calculate gross domestic product, rose 2.8%. Durable-goods orders have risen an average of 1.0%, over the past three months. Fears of a 'double-dip' recession intensified amid a worsening debt crisis in Europe which is a major destination for exports from U.S. manufacturers. Shipments of durable goods, fell 0.2% while inventories rose 0.9%. With consumer spending accounting for nearly 70% of U.S. economic activity, many Americans remain worried about their job security and millions of others are still unable to find work two years after the last recession officially ended.

European stock markets slipped lower as losses for most banks and miners offset a stronger performance from defensive stocks. Hedge fund manager Man Group, PLC tumbled 23% after reporting a sharp drop in assets under management. Man reported assets under management dropped by nearly $6 billion or 8.5% to $65 billion over the course of the fiscal Q2. The fund manager reported that clients pulled nearly $2.6 billion of assets out of its funds during the quarter and they see investor appetite likely to remain weak for the remainder of 2011. Stoxx Europe 600 index slipped 0.3% to 229.19 in afternoon trading. European Commission President Jose Manuel Barroso called for an increase of firepower for the bailout fund and said he trusts the European Central Bank to do whatever is necessary to ensure stability. Per the European Commission, the review team representing lenders to Greece will return to Athens on Thursday.

Microsoft (NasdaqGS: MSFT) unveiled a broader Smartphone partnership with Samsung, sending shares higher by 1% into mid-day trading. The team agreed to cross-license each other's patent portfolios, with Microsoft getting royalties for mobile phones as well as tablets Samsung sells that run the Android operating system. The pair also agreed to work together in developing and marketing Microsoft's Windows Phone software although financial terms were not disclosed.

Register now for our Free Chat Rooms for penny stocks, options, stocks, futures and forex! Chat with other traders during off-peak market hours.

Access a one week trial to our Weekly Swing Trades and Day Trading services. View detailed historic performance from our News & Commentary.

Access our FREE Monthly Trading Lesson posted on our website, a new lesson posted each and every month.

Viewers may opt-in to our free Weekly Market News sent via email on the first trading day of the week. Review market news and active stocks from the previous week plus, see what is ahead for the upcoming trading week.

Follow us now on Twitter and join us on Facebook.

Thanks for reading


Related Topics

  Subject / Started by Replies Last post
0 Replies
Last post January 04, 2008, 06:00:12 PM
by The Web Team
0 Replies
Last post September 25, 2008, 11:07:34 AM
by The Web Team
0 Replies
Last post November 21, 2008, 04:02:42 PM
by MTnews
0 Replies
Last post February 09, 2009, 05:01:04 PM
by Stock Spam
0 Replies
Last post April 03, 2009, 03:52:12 PM
by MTnews
0 Replies
Last post May 04, 2009, 08:40:56 AM
by godoftrading
0 Replies
Last post June 11, 2009, 04:44:45 PM
by MTnews
0 Replies
Last post May 17, 2010, 03:39:48 PM
by MTnews
0 Replies
Last post June 15, 2010, 03:28:44 PM
by MTnews
0 Replies
Last post January 10, 2011, 03:20:42 PM
by MTnews