10 Things You Need To Know Before The Opening Bell

Jodie Foster

Photo: Wikimedia Commons

Good morning. Here’s what you need to know:

  • Asian markets were mixed in overnight trading, with the Nikkei down 0.37%. European markets are all down in morning trading, and U.S. futures suggest a lower open.  Follow up to the minute markets coverage at Money Game >
  • Get ahead with 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
  • Overnight, the dollar fell against a variety of currencies including the euro. Gold also surged, up 1.60%, due to the Fed’s dovish comments about future quantitative easing. Here’s why gold is a religion and not an investment class >
  • Japan has responded to the weakening of the dollar by saying it will further intervene to weaken the yen. The country’s central bank also says Japan remains open to more monetary policy easing. 
  • Tensions between Japan and China remain high over the future of a captured boat captain of Chinese origin, held by the Japanese. The man was sailing in disputed waters when he was picked up. China is threatening further retaliatory actions.
  • organisers of the Commonwealth Games have given India until today to clean up the athlete’s village, which has been described as uninhabitable. The games are set to start October 3, and are now in some doubt. Check out photos of the worst planned international sports event ever >
  • European industrial goods orders came in lower than expected in July, down 2.4% from June. Orders were only expected to drop 1.4%. 
  • Portugal held a successful bond auction this morning, selling €750 million in bonds. After the auction, spreads tightened on Portuguese debt 
  • Spain has called an end to the debt crisis, with its Prime Minister saying his country is on the path to financial reform. Spanish bond yields are much lower than other PIIGS states, but problems may persist. Here’s Spain’s real problem, it has to leave the euro or crush its wages >
  • The Bank of England has also indicated it is considering more monetary stimulus after the U.S. Federal Reserve made a similar move yesterday. The possible move to buy more bonds is aimed at stimulating the sagging UK economy. Here’s what made the Fed keep the door open to more QE >
  • Corporate debt defaults have fallen back to pre-financial crisis levels. The high, reached in November 2009, of 14.6% should be left behind as rates fall to below 3% by the end of 2010. Here are 11 other signs the double dip is dead >
  • Bonus: Jodie Foster is coming to the aid of the much maligned Mel Gibson, who is still suffering a public backlash after his recorded outburst against his ex.

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