Adverse Global cues with Western
Markets in Europe fell flat because of Slow Growth in September, the
second month running. The Weak French manufacturing data, and a
decline in Manufacturing sector data for Germany triggered a slow
down in Wall Street,the FTSE 100 dropped 1.4 percent to 6,676 and The
EURO STOXX 50 Index, Europe's leading Blue-chip index for the
Eurozone, is down to 342 down 1.4 percent.
The The Dow Jones Industrial Average
showed a downward trend with a drop of 0.7 per cent to 17,056 and the
S&P 500 dropped 0.6 per cent to 1,983.
Janet Yellen Fed Reserve Head has
Signaled the Rate Hike Can Come Sonner than Expected and and Told the
Investors to be Prepared for it, if that happens US Stocks will tank,
already reeling from the new Tough laws for Checking the Corporate
Inversion in which US Companies shifted their profits abroad to avoid
taxes. At least Ten Companies which are in middle of Deal Making such
as Burger King Deal with Tim Hortan will be Impacted because of these
measures.
The Grim Situation in the World Markets
is Compounded by a rapidly developing Geo-Political situation in
Syria with USA-Arab Coalition Decision to go in for a strike, The
Obama calling for others nation to Join in the fight with "This
is not America's fight alone" can the Impact of it is set to
transcend boarders.
On Asia Front HSBC Flash Data on
Purchase Manager Index of 50.5 better than last month data of 50.2
has meant a strong sentiment in Chinese Market, with report showing a
growing manufacturing sector, leading to a strong stock rally bucking
the Global Trend of Caution and slow down. There Should be a more
clarity on it once the Final Data which is set to released on 30th
September. The Asian Stocks have Rebounded with Hong-Kong rising
mitigating losses suffered in Australia and Japan.
The Market this week will continue to
show a sluggish movement with US Home Sales Data Due in six Hours,
and Annualized US GDP Data due in a couple of days, being high Impact
data also on watch will be Australian RBA Governor Glenn Steve speech
tomorrow in which he is expected to make major Policy Announcement.
No comments:
Post a Comment