WHAT TO WATCH: U.S. orders for durable goods excluding transportation probably rose 1 percent in August after falling 0.8 percent in July, 8.30 a.m. Purchases of new U.S. homes may increase 6.6 percent in August following a 13.4 percent plunge the previous month,10 a.m. The U.S. Senate is poised to vote on advancing a stopgap spending measure. ECONOMICS: Smaller U.S. banks are exempt from meeting the new rules in the next round of Federal Reserve stress tests. China’s benchmark money-market rate dropped by the most in 12 weeks after the PBOC added $14 billion to the banking system. GOVERNMENT: The European Commission releases a report on national industrial competitiveness, 6:45 a.m. EU President Herman Van Rompuy meets with international leaders at UN General Assembly. COMPANIES: JPMorgan resumed negotiations to settle a U.S. government probe on mortgage-backed securities. Alibaba Group’s IPO talks with the Hong Kong stock exchange broke down over partnership control of board nominations. Markets: European stocks declined as investors await reports on U.S. durable-goods orders and new home sales. The Stoxx Europe 600 Index slipped 0.1 percent to 312.89. The MSCI Asia Pacific Index declined 0.2 percent while Standard & Poor’s 500 Index futures declined 0.1 percent. Also in today’s issue: Michael McDonough says the emerging markets boost from the Fed and China may be fleeting. Niraj Shah’s crisis monitor takes a look at ongoing issues in Portugal, Greece, Slovenia and the ECB’s Outright Monetary Transactions program. Richard Yamarone’s notes and observations from his extensive readings are compiled in the Economist Notepad. Jonathan Miller talks to Tom Keene about challenges and opportunities in the U.S. housing market.
Posted on: Wed, 25 Sep 2013 12:17:36 +0000
Trending Topics
Recently Viewed Topics
© 2015