Overnite EurAsian Trade lower….

Posted by admin as shares and stocks

Overnite EurAsian Trade lower….

EurAsian trade lower overnite on election angst in Japan and tightening angst in China. Not reflected in US screen trade which reads marginally higher a/o about 6:30 CDT.

Ecodata reports due out Tuesday include:
2 retail sales reports (different sources)
Case Shiller home prices
Consumer confidence

One of the retail sales reports is already out showing surprising strength, the Shiller homes price data is coming on the heels of unexpectedly encouraging real-estate reports last week, and consumer confidence is probably in the dumpster though not quite despondent.

Expect a slightly higher but very tentatively so opening…European shares fell back in early trade on Tuesday from the 10-month closing highs they hit in the previous session as investors took profits and after declines in Asia.

The European benchmark index is still up 50 percent from its lifetime low of March 9as investors have become more confident on the prospects for worldwide economic recovery.

Late Monday, reports emerged that the U.S. President, Barack Obama, plans to announce the reappointment of Federal Reserve Chairman Ben Bernanke, with the Wall Street Journal reporting that Obama will credit Bernanke for “pulling the economy back from the brink of depression.” “It’s good news in the sense that it’s what the market knows. Clearly, easy monetary policy will be maintained at the Fed. There will be no change in tack there,” said Edmund Shing, strategist at BNP Paribas.

TOKYO, Aug 25 (Reuters) – Japan’s Nikkei average drifted lower on Tuesday, hit by profit-taking after surging 3.4 percent the day before, with investors finding few reasons to buy actively before Japan’s Aug. 30 election and U.S. economic data. Exporters lost ground after leading Monday’s rally, while Mitsubishi UFJ Financial Group (8306.T) fell in the wake of losses in U.S. peers after a veteran banking analyst said 150 to 200 more U.S. banks would fail during the banking crisis.

HONG KONG/SHANGHAI, Aug 25 (Reuters) – Hong Kong stocks trimmed their losses to end 0.49 percent lower on Tuesday after earlier tracking Shanghai’s retreat on profit-taking following recent rallies.