November 30th will be the last trading day for November. Most if not all major indices will close lower for the month of November. It would be a miracle if any major indices would close in the black with the exception for Thailand in Asia and Mexico in Latin America.
KL Composite would have a good chance if it were to close in the black tomorrow. The worst performing is Mumbai in India. The inverted yield curve theory still holds true. Weak growth coupled with stubbornly high inflation had cause the index to slump 10% thereabouts for the month. GDP data, out later on Wednesday may extend the decline.
Asian indices closed mixed with the best performing index coming from Japan and South Korea while Europe extended her second day of advance.
At point of writing, Dow and S&P extended their second day of advance assisted by better consumer confidence data, revised upwards for the previous month and leapt 15 points to 56 in November. This is the largest gain in confidence data since Year 2003! It is no wonder why the retail sales data for Black Friday was overwhelming! Does the confidence data prompt the non-farm payroll data due this Friday?
There’s a whole bunch of data coming out from US due WTF. Click here. For the Global economic calendar, click here. The HSBC China Manufacturing PMI should be due Thursday or Friday!
0 comments:
Post a Comment