Friday, August 27, 2010

20100827 1013 Global Market News.

Stocks slip; market tense before Bernanke
SYDNEY, Aug 27 (Reuters) - Asian stocks fell on Friday to round off a week of losses as persistent worries over whether the U.S. economy may suffer another recession kept investors dour.
"What Bernanke says or doesn't say will determine our fate next week," said Don Williams, chief investment officer at Platypus Asset Management in Australia. 

GLOBAL MARKETS: Stocks slip; market tense before Bernanke
SYDNEY, Aug 27 (Reuters) - Asian stocks fell on Friday to round off a week of losses as persistent worries over whether the U.S. economy may suffer another recession kept investors dour. "What Bernanke says or doesn't say will determine our fate next week," said Don Williams, chief investment officer at Platypus Asset Management in Australia.

GLOBAL MARKETS: Stocks slip; market tense before Bernanke
SYDNEY, Aug 27 (Reuters) - Asian stocks fell on Friday to round off a week of losses as persistent worries over whether the U.S. economy may suffer another recession kept investors dour.
"What Bernanke says or doesn't say will determine our fate next week," said Don Williams, chief investment officer at Platypus Asset Management in Australia.

OIL: Crude snaps two-day rally ahead of U.S. GDP report
SINGAPORE, Aug 27 (Reuters) - Crude snapped a two-day rally on Friday, heading for a third straight week of losses, as an expected downgrade in U.S. economic growth fed disquiet over record oil inventories and weak housing and manufacturing data. The U.S. government on Friday is expected to revise second-quarter gross domestic product (GDP) growth lower to an annual pace of 1.4 percent, from 2.4 percent, according to a Reuters survey.

US July new home sales sag, durables orders soft
WASHINGTON, Aug 25 (Reuters) - New U.S. home sales slumped to the slowest pace on record in July and orders for costly durable goods were weak, heightening fears the economy was at risk of another downturn. The reports on Wednesday from the Commerce Department suggested growth could slow materially without government support and some economists saw the risk of a contraction in output in the third quarter.

FOREX-Euro rises, supported by higher European shares
LONDON, Aug 26 (Reuters) - The euro rose on Thursday as a rise in global share prices prompted investors to pick up riskier currencies, but gains were capped as more weak U.S. economic data indicated the pace of recovery was slowing. "The market is still looking at stocks and how the ongoing correlation between risky assets and euro/dollar holds up, and it still seems to be holding up well," said Jeremy Stretch, head of currency strategy at CIBC.

World stocks rebound from lows, yen slips
LONDON, Aug 26 (Reuters) - World stocks bounced off seven-week lows and Japan's yen weakened in another burst of the risk-on, risk-off trading that has dominated financial markets this year. "Companies have been reporting reasonable results," said David Buik, partner at BGC Partners. "But whether a rally can be sustained is to be seen, there is nothing to say the bad news is all over."

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