Good morning. Here’s what you need to know:
- Asian markets were mostly up in overnight trading, with the Shanghai Composite a notable exception, down 1.44%. European indices are all higher in early trading and U.S. futures suggest a higher open. See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market >
- Initial jobless claims came in way better than expected at 451,000 for the week. Read the full report here >
- China has already passed a year record for purchases of Japanese sovereign debt, buying 640.8 billion yen ($7.6 billion) in July alone. This is part of China’s ongoing plan to diversify its sovereign debt holdings.
- Passenger car sales in China grew at a faster rate in August than July, up 18.7%, selling 1.02 million cars. Estimates for car sales for the year have risen to 16 million from their original 15 million target. Check out 10 Chinese brands set to take over the world by 2020 >
- A suicide bombing in Russia has left 15 dead and over 100 injured. The attack occurred in the Russian region of North Ossetia. Here are the threats the U.S. Air Force is really worried about >
- The UK’s recovery is slowing with GDP growth for the three months ending in August falling to 0.7%. This is a drop over the previous period, the three months ending in July, which saw GDP grow by 1.3%.
- The Bank of England is considering more targeted bond purchases in response to the sagging economy in a return to quantitative easing. Expectations have the return to monetary stimulus occurring in early 2011.
- The OECD has suggested G7 countries engage in a new round of monetary stimulus to combat the sagging global rebound. The group sees G7 GDP growth rates falling to 1.4% in Q3 and 1.0% in Q4 2010.
- The Blue Chip Economic Indicators report cut their U.S. GDP expectations for 2010 and 2011, down to 2.7% growth for 2010 and 2.5% for 2011. The group also don’t see much progress possible in combating unemployment. Here are 13 signs we’re actually in a depression >
- The U.S. has fallen back to fourth place in the World Economic Forum’s Competitiveness report, and is now behind Switzerland, Sweden, and Singapore. The UK moved up in the ranking to 12th place and China moved up two spots to 27th. Check out the shocking countries with way better property rights than the U.S. >
- Bonus: Katie Holmes has no plans for a second child after her first Suri, noting she preferred her quasi only child role growing up.
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