UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. Sept. 22 @ 2:00 pm ET - FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Fri. Oct. 1 @ 8:30 am ET - Core PCE Price Index m/m Data
* Fri. Oct. 8 @ 8:30 am ET - Employment Data
* Wed. Oct. 13 @ 8:30 am ET - CPI m/m & Core CPI m/m Data
* Wed. Oct. 13 @ 2:00 pm ET - FOMC Meeting Minutes
* Thurs. Oct. 14 @ 8:30 am ET - PPI m/m & Core PPI m/m Data
* Fri. Oct. 15 @ 8:30 am ET - Retail Sales & Core Retail Sales Data
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Consumer Sentiment
* Fri. Oct. 15 @ 10:00 am ET - Prelim. UoM Inflation Expectations
* Wed. Oct. 20 @ 2:00 pm ET - Beige Book Report
*** CLICK HERE for link to Economic Calendars for all upcoming events.
Monday, October 31, 2011
Major Indices pull back on weakness in Financials and Euro
A pullback in the Financials sector, XLF, (see my earlier post today), the EUR/USD forex pair, the AUD/USD forex pair, and the Commodities sector, DBC, (see my October 29th post) contributed to this weakness...the Financials and the Euro were particularly weak, as shown on the 1-day 1-minute percentage comparison chart below.
I heard a common thread being mentioned on the Canadian and American Financial TV networks today that there is concern about the growth potential of some of the European countries, and not just on issues regarding the recapitalization of their banks...there is uncertainty as to where any meaningful growth is going to come from over the coming quarters (for example, see my post on the weakness in the Portuguese Stock Index on October 28th)...no doubt this will be reflected in the price of the European countries' stock indices, as well as in their banking stocks in the next days/weeks...worth watching as new details on various European fincial, monetary, and fiscal issues, plans, and concerns about these unfold.