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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, 07:05 GMT
Archive
- It will eliminate 9,200 jobs at Washington Mutual, over 21% of workforce
Published On Tue, Dec 2 2008, 07:26 GMT - Rumours the Bank of Japan will hold an emergency meeting this week
Published On Mon, Dec 1 2008, 07:29 GMT - Thai Prime Minister declares a state of emergency as another explosion hits Mumbai
Published On Fri, Nov 28 2008, 07:11 GMT - Indian militants target British and US citizens in Mumbai, killing and setting fire to prominent targets
Published On Thu, Nov 27 2008, 07:16 GMT - Anti-government protestors storm airport control tower cancelling flights to Bangkok
Published On Wed, Nov 26 2008, 07:35 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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