Investors will be focusing on European sovereign debt concerns this week as a meeting of G-20 leaders commences to address global currency policies.
Good morning, I’m Kristin Bianco, with the “Week Ahead Market Report” for November 8, 2010.
In overseas trading, Japan’s Nikkei 225 Stock Average decreased by about 1.1 percent, and the Shanghai Composite Index was up about one percent. The FTSE 100 is lower by half a percent. American markets are lower this morning.
President Obama will travel to the G-20 meeting in Korea later this week. Other members, including China, Germany, and Brazil, have expressed concerns regarding quantitative easing and the impact of such on the continuously declining dollar. China's resistance to a more flexible currency policy is expected to be a topic of discussion.
Among economic data being released this week, jobless claims are expected to be closely watched when they are released on Wednesday. Trade data is also to be released on Wednesday.
Companies announcing earnings this week include Frontier Communications (NASDAQ:FTR) and LDK Solar (NYSE:LDK) on Monday, Delta Petroleum (DPTR) on Tuesday, Tim Hortons (NYSE:THI) on Thursday, and Agilent (NYSE:A) and DR Horton (NYSE:DHI) on Friday.
The bond market will be closed on Thursday in observance of Veteran's Day.
The Treasury is auctioning $72 billion in 3-year, 10-year, and 30-year bonds from Monday through Wednesday.
Join us on Friday for the “Weekly Market Wrap” and have a wonderful week.
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