September 24, 2009 – 4:13 am
The sharp sell-off in yesterday’s final hour hurt investor sentiment around the globe and contributed to general uncertainty about near-term prospects. Commodity prices are slightly weaker this morning with oil near $68 per barrel, while the US dollar has firmed from annual lows. Major events today include the weekly jobless claims report an hour before the opening bell, and the Existing Home Sales index half an hour into the session.
The session in Asia was deeply mixed. Japan’s Nikkei posted a 1.67% advance even though all-industry activity failed to meet expectations in July and nominal exports showed only minor improvement. Meanwhile, shares in Hong Kong nosedived 2.52% after it was reported that August exports were 13.9% slower than one year ago. The European market is also in the red. A sixth monthly gain in Germany’s Ifo index hasn’t prevented the DAX from falling 0.40%, and shares in England and France are currently down 0.33%....(
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