- With the close on 6/4/12 of Transports at 4847.43, and Industrials at 12101.46, IT’s opinion of Dow Theory is now bearish.
- AIG’s Robert Benmosche: The Europe debt crisis shows that governments worldwide must accept that people will have to work up to ages 70 or 80.
- (FT) Luxury market set to hit $1.5tn: The market for luxury, such as yachts, frocks and safaris, is set to hit $1.5tn this year, roughly matching the entire economic output of Spain or Australia, as the income inequality gap widens across the globe.
- The Commerce Department said that the U.S. trade deficit narrowed 4.9% in April to $50.1 billion.
- Goldman lowered US GDP forecast for 2012 to 1.8% from 2%.
- The EU issued a statement in support of Spain's request for financial assistance for its troubled banks. It added that it expects the loans to total about 100 billion euros ($125 billion).
- Geithner said that Spain's request for a bank rescue and Europe's willingness to prop up the country with as much as $125 billion in aid was welcome actions.
- German Finance Minister Schaeuble said that Spanish banks are not at all a danger for the stability of the euro and added that they will now be getting the capital they need.
- China's economic growth will likely moderate to around 8 % this year amid downward risks caused by the ongoing crisis in Europe, the IMF said.
- YoY China’s CPI slowed to 3.0 percent in May
- China's foreign trade rose 14.1% YoY to 343.58 billion U.S. dollars in May, rebounding from the 2.7% growth registered in April.
- China has cut interest rates by 25 basis points, its strongest move yet to prop up the economy as growth weakens. The benchmark one-year lending rate is now 6.31%, while the one-year deposit rate is 3.25%.
- YoY Japans current account surplus declined 21.2% in April
- Japans index of leading indicator dropped 1.3 points to 95.1
- French unemployment rate rose to 9.6% in Q1
- Australia's unemployment rate rose to 5.1 % in May
No comments:
Post a Comment