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US Market Update TRADETHENEWS.COM
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GE, McDonalds and Microsoft Earnings Weigh on Indices
Economic Data
(IN) India Forex Reserves w/e Oct 12th $294.9B v $295.0B prior
- (BR) Brazil Oct IBGE CPI: 0.7% v 0.6%e
- (CA) Canada Sept Consumer Price Index M/M:0.2 % v 0.3%e; Y/Y: 1.2% v 1.3%e; Consumer Price Index: 122.0 v 122.1e
- (CA) Canada Sept CPI Core M/M: 0.2% v 0.3%e; Y/Y: 1.3% v 1.4%e
- (MX) Mexico Sept Unemployment Rate: 5.0% v 5.3%e
- (BE) Belgium Sept YTD Budget Balance: -€9.2B v -€3.8B prior
- (US) Sept Existing Home Sales: 4.75M v 4.74Me
- Weakness in key earnings reports are weighing on indices this morning. McDonalds, General Electric and Microsoft are in the red this morning after disclosing troubling earnings reports. The September existing home sales numbers retreated somewhat from the two-year highs seen in the August data, although the numbers remained pretty good, with median resale prices also holding up well. EUR/USD climbed off its NY morning lows of 1.3034 to move towards the unchanged level for the session. Overall muted action was exhibited in price action from the EU Summit.
- Microsoft had a very mixed report in its Q1. Profits fell more than 20% on a y/y basis, although on an adjusted basis earnings topped expectations. Revenue was also challenged, although that mostly had to do with the deferral of some revenue in its Windows unit ahead of the big Windows 8 launch. On the bright side, the server business, including the cloud computing initiative, saw healthy ...
(IN) India Forex Reserves w/e Oct 12th $294.9B v $295.0B prior
- (BR) Brazil Oct IBGE CPI: 0.7% v 0.6%e
- (CA) Canada Sept Consumer Price Index M/M:0.2 % v 0.3%e; Y/Y: 1.2% v 1.3%e; Consumer Price Index: 122.0 v 122.1e
- (CA) Canada Sept CPI Core M/M: 0.2% v 0.3%e; Y/Y: 1.3% v 1.4%e
- (MX) Mexico Sept Unemployment Rate: 5.0% v 5.3%e
- (BE) Belgium Sept YTD Budget Balance: -€9.2B v -€3.8B prior
- (US) Sept Existing Home Sales: 4.75M v 4.74Me
- Weakness in key earnings reports are weighing on indices this morning. McDonalds, General Electric and Microsoft are in the red this morning after disclosing troubling earnings reports. The September existing home sales numbers retreated somewhat from the two-year highs seen in the August data, although the numbers remained pretty good, with median resale prices also holding up well. EUR/USD climbed off its NY morning lows of 1.3034 to move towards the unchanged level for the session. Overall muted action was exhibited in price action from the EU Summit.
- Microsoft had a very mixed report in its Q1. Profits fell more than 20% on a y/y basis, although on an adjusted basis earnings topped expectations. Revenue was also challenged, although that mostly had to do with the deferral of some revenue in its Windows unit ahead of the big Windows 8 launch. On the bright side, the server business, including the cloud computing initiative, saw healthy ...