the technical perspective markets seems too weak to produce any meaningful rebound although all of them are in oversold conditions. The barrage of bad news coming out from Europe only helped to worsen the situation. Yesterday’s stock markets performances have been awful to say the least. The DJIA and S&P 500 had their worse 1 day drop this year.
On Wednesday, Eastman Kodak Co. (EKDKQ) will ask the bankruptcy court to reject an ownership claim from Apple Inc. (AAPL) on certain patents Kodak may try to sell in its bid to raise funds to exit Chapter 11 protection.
Reports Due on Import, Producer and Consumer Prices
The Labor Department will release May data for import prices on Tuesday. The cost of goods imported into the U.S. fell 0.5% in April, the first decline since October, as fuel prices retreated.
Meanwhile, data on producer prices and consumer prices will be released Wednesday and Thursday, respectively.The Producer Price Index, which measures the price of goods at the wholesale level, showed U.S. wholesale prices fell 0.2% in April as energy costs declined.
The Consumer Price Index, which measures the price of a fixed market basket of goods and services purchased by consumers, was unchanged in April from the prior month.
Financial Stability Oversight Council Meeting Set for Monday
The next meeting of the Financial Stability Oversight Council is scheduled for Monday, the Treasury Department said.
Treasury Secretary Tim Geithner will lead the meeting, which is closed to the public.
Known as FSOC, the council comprises top financial regulators and was created by the Dodd-Frank financial-overhaul law. The council includes the heads of the Treasury, Federal Reserve, Securities & Exchange Commission, Commodity Futures Trading Commission and other agencies, and was formed to help coordinate regulatory action and head off another financial crisis.
Conferences
Among the significant conferences next week are Macquarie Financials Conference on Monday and Tuesday in New York; Morgan Stanley Financials Conference Tuesday and Wednesday in New York; REITWeek: NAREIT's Investor Forum Monday through Wednesday in New York; William Blair and Co LLC Growth Stock Conference Tuesday through Thursday in Chicago and Deutsche Bank Global Industrials and Basic Materials Conference Wednesday and Thursday in Chicago.
Asian stock markets outlook next week june 11-15 2012
Asian stock markets reported their first weekly gains in six weeks amid hopes that major central banks, including the U.S. Federal Reserve, might act to tackle deteriorating global economic conditions.
Comments from European Central Bank President Mario Draghi and Atlanta Fed President Dennis Lockhart lifted market sentiment. Draghi noted that he "stands ready to act" if needed.
However, optimism faded Friday as Federal Reserve Chairman Ben Bernanke remained noncommittal on monetary easing during his congressional testimony Thursday. Investors had hoped that future stimulus measures would be offered by the Fed chief.
A surprise rate cut from the Chinese central bank came as a relief to Asian markets, however, and reports of a possible bailout for troubled Spanish banks also buoyed sentiment.
Asian markets will likely begin the week with gains as Spain is expected to seek billions of dollars in bailout money from the European Central Bank to properly restructure its troubled banks, which could ease the most immediate concerns over the financial crisis in the euro areas.
Besides European and U.S. factors, Asian markets are geared up for heavy data this week, but most of the important data is scheduled to be released over the weekend when China reports most of its May numbers.
Analysts at Credit Agricole expect most of the releases from China to show a further slowdown in growth.
"Industrial output, fixed asset investment, retail sales and exports will likely all show deceleration, and imports as well as foreign direct investment should contract, as both domestic and external demand slowed, and euro zone woes reduced confidence," a note from Credit Agricole said.
In Japan, the major economic event next week is the Bank of Japan's policy meeting Friday, after which the bank is expected to leave the present monetary policy setup unchanged. Apart from that, machinery orders for April are expected to show a 3.5 percent gain on from the previous month, while corporate goods prices for May are expected to report a 0.5 percent decline from the previous month.
Major Indian benchmark indices rose 4.7 percent from the lows seen earlier in the week. The market improved this week as the rupee strengthened a bit after falling to a record low of 56.52 against the dollar last week.
Data about April's industrial output and May inflation data are also scheduled to be released during the week. Industrial output is expected to show a recovery, and inflation will likely rebound. However, the main focus will be on the Reserve Bank of India's next major policy decision. Market participants seem confident that the Reserve Bank of India will intervene and ease monetary policy in an effort to boost economic growth.
Elsewhere, most of the data from the region will be positive, except for some weakness in exports from the Philippines in April. Retail sales in Singapore for April -- and Malaysia's industrial output -- are expected to recover.
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