This year may be a turning point, |
Today has been different from the past few weeks as we have seen real capitulation in the market as every stock and every sector is down. |
We are in the midst of the third-quarter reporting season and it's quite likely the numbers will meet expectations or be below, so there is still scope for bad news. |
We could see more of the same today, Europe is still moving lower on the back of where the U.S. was and the catalysts just don't seem to be there. |
We have to see hard numbers on economic data showing there is some lift in the manufacturing and services sectors. The other trigger is very much Iraq -- if crude oil comes off significantly that should help the cyclical stocks. |
We're finding that the data from the U.S. on industrial activity were pretty weak. It's so-so on the consumer although housing activity is still holding up. When you look at Europe, Sweden and Hungary both cut interest rates this week. |
We've had very sharp moves both in the U.S. and international markets, |
We've seen a lot of bad news emerge from the U.S., ... and it's likely to continue with regard to European companies. |
While this appears no more than a routine reshuffle, September's review is likely the impact the markets in a positive way, |
While this appears no more than a routine reshuffle, September's review is likely the impact the markets in a positive way. |