Wall Street This Week: Pessimism in Early Q4

Forex News - Entering the first week fourth quarter 2011, the investor has not yet received the assurance from Europe. Problem of debt and the global economic slowdown will affect the investment policy consistent investor until the end of the year.

The first agenda is to be observed is the ratification of a grant of 17 members using the euro. If all the nations of Europe passed a discourse of the expansion of liquidity, then there is hope of Greece could be saved from the threat of default.

Last week Wall Street closed the third quarter with weakening. S&P 500 and the Nasdaq correction certainly scored the biggest quarter since 2008. While the Dow Jones lost 12% to cover the worst quarter since Q1 2009 ago.

The main focus this week is a meeting of the interest rate the European Central Bank (ECB). When referring to the European inflation data, the likelihood is very small for the ECB to cut interest rates. If the authority does not change interest rates, then it could be a reason for investors to leave the New York market.

From within the country, since the Fed released the 'operation twist', ie a mini version of Quantitative Easing, stock and commodity prices fell sharply. Sentiment can be improved if the monthly jobless data showed an expansion of labor in the United States (U.S.). In addition, manufacturing data Monday the Institute for Supply Managements these actors deserve attention exchanges.

Here is the agenda of the U.S. economy this week:

Monday

- ISM Manufacturing Index and construction spending released by the Commerce Department.

Economists expect the ISM index fell from 50.6 to 50.5 or is still expanding. While construction spending fell 0.5% compared to an estimated record of the previous month, 1.3%.

- Several automakers release sales data for September.

Tuesday

- Ben S. Bernanke will discuss the economic projections before the Joint Economic Committee of Congress.

- Apple Inc. corporate action. predicted to be the moment of launch of the iPhone 5.

- The owner of KFC, Pizza Hut and Taco Bell, YUM! Brands, will release its earnings.

Wednesday

- Investors will be presented data ADP private sector employment. Economists expect the private company hired 48,000 new workers or down compared to the previous record month, 91 000.

- Institute for Christmas & Gray also releases employment data trimming September.

- Costco (COST) and Montsanto (MON) data released quarterly earnings ahead of the opening session. While Marriott also release similar data post-session trading.

Thursday

- Initial jobless claims Labor Department released. Economists expect jobless claims rose to 401,000 compared to a record last week, 391 000.

Friday

- August employment data announced by the government. Economists predict the unemployment rate remained 9.1% while the predicted payrolls rose to 63,000 jobs in September