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...mode until they find reason for taking heart anew. In addition to the 11.4% slump of Nikkei - its biggest single-day drop since the October, 1987 crash - trading Thursday elsewhere in Asia pushed Hong Kong's Hang Seng down 4.8%, South Korea's down 9.44%, and Singapore Straights Times Index down 5.5%. Europe faired no better, with London's FTSE 100 and Paris' CAC 40 indices reflecting mid-morning declines of nearing 2.5%, and Frankfurt's Dax off 1.3%. Market commentators warned that trading could see-saw throughout the day, but expected European bourses to close down and Wall Street...
...Consumer Sentiment: On Friday, the University of Michigan Survey of Consumers posts its sentiment index for early October, which measures shoppers' outlooks as they gear up for the holiday buying season, a crucial period that accounts for as much as 40% of retailers' annual sales. "Traditionally, if gas prices are up, consumer confidence is down," says Englund. "I'm not sure what will be captured by the Michigan Index, but I think it will drop because the RBC index dropped and that makes intuitive sense." According to the National Monthly RBC/CASH (Consumer Attitudes and Spending by Household) Index, consumer confidence...
...second straight day, amid a flurry of government moves to prevent rocked financial and banking systems from collapsing. Less than a day after European leaders revealed a collective commitment of more than $1 trillion in capital injections and interbank loan guarantees, a 14% bound by Tokyo's Nikkei index led surges across Asia. Bourses in Europe also opened with renewed gains ahead of Wall Street's 3.8% opening spurt. Yet the burst of renewed confidence inspired sober observers to take up the Churchillian reminder that this is less "the beginning of the end" of the world's economic woe than...
...time for investors to celebrate, right? On Monday the Dow Jones industrial average ended up a stunning 936 points, the biggest one-day point gain in history - all the more remarkable considering the index of blue-chip stocks had just come off its worst weekly loss on record. The S&P 500, a broader measure of the stock market, saw its largest one-day percentage gain since 1939, and the tech-heavy NASDAQ jumped 12%. Seems a gaggle of European countries rolling out billions of dollars to guarantee loans and recapitalize banks, and indications that the U.S. might do some...
...jumped 6.25% - a remarkable turn-around from last week's battering that ended Friday with losses of 7% to nearly 9%. Most indices in Asia similarly rebounded, with Hong Kong's Hang Seng rising 6.77%, and Syndey's All Ordinaries up 5.14%. Though the region's showcase Nikkei index remained closed during Japan's public holiday, most Asian markets aside from Taiwan were all posting modest advances...