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General Motors share price drops to $5.42, lowest since 1950
Fri, Oct 10 2008, 07:01 GMT
by Nicole Elliott
technical analysis will be away until monday 20th october
Quote:
‘The burgeoning Federal deficit marks the end of the dollar as a reserve currency. And good riddance to it. Its exalted status only served to shore up America’s prestige and allow the US to borrow to support unwise adventures.’ Irwin Stelzer (1932-)
The News:
General Motors share price drops to $5.42, lowest since 1950.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:50 JP September Bank of Japan Minutes of 16th/17th rate-setting meeting.
00:50 JP September M3 Money Supply +0.9% Y/Y, Bank Lending +2.4%, versus +1.0% and +2.2% August.
06:45 CH September Jobless 2.6% versus 2.5% August.
12:00 CA September Employment (-5K to +25K, Unemployment 6.1% to 6.3%, versus +15.2K and 6.1% August).
13:30 CA August New Housing Price Index (-0.1% to +0.3% M/M versus +0.1% July).
13:30 CA August Trade Balance (+C$3.0B to +C$5.2B versus +C$4.9B July).
13:30 US August Trade Balance (-$61.5B to -$56.0B versus -$62.2B July).
13:30 US September Import Price Index (-4.4% to –0.4% M/M, +10.2% to +14.1% Y/Y, versus –3.7% August).
The Psychology:
G7 finance ministers meet in Washington. Annual meeting of the IMF and World Bank Monday 13th which are holidays in Canada, Israel and Japan. Parliamentary elections Canada Tuesday 14th.
The Risk:
Technical Analysis will be away until Monday 20th October.
Today’s most interesting chart: Nikkei 225
Second 10% daily drop this week taking it closer to 2003 and 1983 lows.
Published on Fri, Oct 10 2008, 07:01 GMT
Archive
- General Motors share price drops to $5.42, lowest since 1950
Published On Fri, Oct 10 2008, 07:01 GMT - Central banks can cut rates but market ones are all over the place
Published On Thu, Oct 9 2008, 07:59 GMT - Spanish government creates €30B fund to support bank lending
Published On Wed, Oct 8 2008, 07:08 GMT - India cuts key rate by 50 basis points to 8.50%
Published On Tue, Oct 7 2008, 07:00 GMT - BNP takes over parts of Fortis and Unicredit to raise €6.6B capital
Published On Mon, Oct 6 2008, 07:17 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
Legal disclaimer and risk disclosure
The information contained in this page is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This page has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.Related reports
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