Merkel suggested last night the world is dreaming if it expects all will be resolved in Europe after one summit this weekend. Dow down 246.
Despite greater optimism now apparent on the European front, brokers continue to acknowledge the longer term damage in another series of forecast reductions. It’s not all bad news, however.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.
A brief look at important company events and economic data releases next week.
Concerns over Chinese financial integrity and a weak trade balance added to a poorly received result from JP Morgan last night. But Wall Street remained resilient. Dow down 40.
The EFSF is now officially a reality but Wall Street bounced off the top of its range last night. Dow up 102.
FOREX.com does not believe this month’s rally is sustainable, predicting USD strength and commodity and equity market weakness into year-end.
Using factors such as the level of linkage to economic cyles and emerging market demand, Barclays has ranked the vulnerability of various commodities assuming a global recession.
Slowing global growth and uncertainty lead brokers to mostly cut commodity price forecasts, with growth revisions also impacting on other sectors.
Wrap of events affecting the market on Friday night and the weekend and a preview of the week ahead.