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Friday, November 23, 2007

Amended: Australian Market Falls On Wall Street Losses, Lower Metal Prices []

Amended: Australian Market Falls On Wall Street Losses, Lower Metal Prices []
Amended: In the first para "Topix index of all First Section issues" corrected as "All Ordinaires index". Corrected version follows.

KOSPI Skid May Hit Six Days []
The losing streak has already been extended to five days for the South Korean stock market, and investors are not optimistic that it will come to an end when the KOSPI kicks off trade on Thursday.

11/21/2007 6:37:14 AM US stocks were back on the defensive Wednesday morning in New York as traders braced for another batch of economic data one day after the Federal Reserve projected slower than expected growth next year. As of 6:30 am ET, stock futures were pointing to significant weakness at the opening bell. The S&P Futures were down 17 points, the Nasdaq Futures were down 20 points, and the Dow Futures were down 115 points. Oil prices continued their charge toward the psychologically important $100 a barrel mark overnight, touching above $99 in Asian dealing before easing back to $97.99. Traders await the 10:30 am ET release of the Department of Energy's weekly inventory report. Initial jobless claims will be released prior to the opening bell, with many investors expecting a modest increase. Later in the session, reports on leading indicators, and consumer sentiment will be released. On the earnings front, several notable companies are set to release their quarterly results including Mesa Air (MESA), and retailers such as Abercrombie & Fitch (ANF), Gap (GPS), and J. Crew (JCG). Markets in the US will be closed on Thursday for the Thanksgiving holiday. Asian stocks tumbled on Wednesday, with the Hang Seng of Hong Kong plunging 1,153.02 points and Tokyo's Nikkei dropping 373.86 points. In European intraday dealing, the FTSE of the UK was down 100 points, the CAC of France was down 102 points and the DAX of Germany was down 130 points.
Stocks Likely To Move Sharply Lower In Early Trading - U.S. Commentary []

Stocks Seeing Continued Weakness In Early Afternoon Trading - U.S. Commentary []
While selling pressure has waned from earlier in the session, the U.S. stock markets continue to see significant weakness in early afternoon trading on Monday. Most stocks remain firmly in negative territory.

Stocks Seeing Significant Weakness In Late-Morning Trading - U.S. Commentary []
After moving sharply lower at the start of trading on Monday, stocks have continued to the downside throughout much of the morning. The major averages have all shown notable downward moves, moving firmly into negative territory.

BNP Paribas Expects ECB To Maintain Rates Unchanged []
Clemente De Lucia from BNP Paribas said on Friday that sentiment in the Eurozone continues to deteriorate in November. The composite index for activity, which combines the services business index and the manufacturing output index, fell by almost one point in November.

11/21/2007 9:37:00 AM Stocks moved sharply lower at the start of trading on Wednesday, with the major averages moving firmly into negative territory after ending the previous session modestly higher. The initial weakness is partly due to concerns about the outlook for economic growth. In the first few minutes of trading, significant weakness has emerged among airline stocks, which have come under pressure as the price of oil climbs back near the $100 a barrel level. Wireless, financial, and retail stocks are also seeing considerable weakness. In the past few minutes, the major averages have edged up off their lows for the young session, but they continue to post steep losses. The Dow is currently down 102.91 at 12,907.23, the Nasdaq is down 28.24 at 2,568.57 and the S&P 500 is down 12.57 at 1,427.13.
Stocks Seeing Significant Weakness Amid Concerns About Growth - U.S. Commentary []

BNP Paribas Expects Further Weakness In 2008 For France []
Mathieu Kaiser from BNP Paribas remarked on Friday that in October, sales of manufactured goods declined by 1.1% m/m, the largest fall since September 2006. This was the second consecutive monthly decline, he noted, as purchases had already dropped in September (-0.3% versus +0.1% m/m initially released).

Stocks Move Lower At The Start Of Trading - U.S. Commentary []
Stocks moved lower at the start of trading on Monday, with the major averages all falling in negative territory after ending last week's trading in positive territory. The initial weakness was partly due to news of a downgrade of Citigroup (C).

Stocks Seeing Significant Strength In Late-Morning Trading - U.S. Commentary []
Stocks continue to see significant strength in late-morning trading on Tuesday, with the major averages all firmly in positive territory after posting steep losses in the previous session. Resource stocks continue to turn in some of the best performances.

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