Wake Up Call - Feb 2
Asia:
Hang Seng Index +0.65%; Shanghai/Shenzhen 300 -4.06%; NIKKEI 225 +0.16%; BSE SENSEX 30 +0.96; KRX 100 +2.43%; Ho Chi Minh +2.4%
U.K. & Europe:
DJ STOXX 50 Index +0.32%; FTSE 100 +0.57%; CAC 40 +0.34%; DAX +0.5%; Russian RTS Index +0.37%
KEY HEADLINE NEWS
- The Labor Department reported on January employment this morning. U.S. employers added 111,000, versus a consensus expectation for 150,000, as compiled by Bloomberg. Unemployment rose to 4.6%, compared to 4.5% in December and versus expectations for 4.5% in January. The number we viewed most important, average hourly earnings, came in lower than expected, showing an increase of 0.2%, versus expectations for a 0.3% increase.
- January auto sales showed that Toyota overcame Ford to take the second position in the world's most significant producer list. We expect Toyota to overtake GM for the top spot by the end of the year.
- The Intergovernmental Panel on Climate Change (IPCC) published its report on global warming, and raised the level of alert while remaining rather conservative in our view. For instance, its temperature and water level change expectations do not take polar cap melt into account. We suspect both sides of the argument will have objections about this hot topic report.
- Iran is said to be working aggressively on an underground nuclear enrichment plant.
- A recent Palestinian truce looks short-lived, as battle erupts in Gaza.
We urge you to read our section within the sidebar, entitled "Headline News", for further important information for traders and investors.
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Check back in later this morning, as "Today's Morning Coffee" will outline in greater detail the day's activity in overseas and commodity markets, and provide economic data & analysis and stock specific news. (disclosure)
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