Early signs are that, while the Asia-Pacific markets corrected (Japan’s Nikkei down -2.13% and India’s Sensex down -3.25%), the European bourse action is muted so far and the Dow futures are up about +34 to 12248.

At 8:26am ET, the UK FTSE (+0.06%), French CAC (+0.32%), and German DAX (+0.24%) are soft but not as much as many traders anticipated.

There seems to be some Fed easing this morning as the $USD futures are 72.445 while the Euro futures are at 1.5774. The Euro futures closed Friday at 1.5759.

At 8:27am ET, the Gold, Palladium, Platinum and Silver spot price (versus the close on Friday) are: 898.58 (901.35), 432 (431.5), 2041 (2070), and 17.42 (17.48) per ounce, respectively. Very little change.

The DJIA near futures closed at 12214 and at 8:27am ET are 12254 (+40).

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Comments:

I never cease to be impressed by how a break in the action for a day or a weekend changes the market’s mood.

You never know of course if a sell-off wave on a Friday will result in a tsunami on Monday. But most often it doesn’t.

I attribute that corrective behavior to have a lot to do with central bank market intervention.

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Links & Charts

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International Economics Review

US Economic Calendar.

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International Equity Markets Review

Europe

Here is the latest session data for the bourses of Europe.

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Here is the latest session data for the London stock exchange FTSE.

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Here is the latest session data for the German DAX.

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Here is the latest session data for the French CAC 40.

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Here is the latest session data for the Milan Italy stock exchange MIBTEL.

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Here is the latest session data for the Swiss market index.

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Asia-Pacific

Here is the latest session data for the Asia-Pacific stock exchanges.

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Here is the latest chart for the Japanese Nikkei 225 index.

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Here is the latest chart for the Singapore index .

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Here is the latest chart for the Shanghai Composite index .

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Here is the latest chart for the Hong Kong Hang Seng index .

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Here is the latest chart for the India BSE 30 index .

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Here is the latest chart for the Australian All Ordinaries index .

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US Equity Markets Review

DJIA (interactive) chart

NASDAQ Composite (interactive) chart

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Oil Review

Here is the e-miNY Jul-08 Crude Oil chart.

Interactive Chart of Daily Crude Oil:

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Gold & Precious Metals Review

Spot gold chart for the week

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Spot silver chart for the week

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Forex Review

Here is the chart of the week's trading in the $USD.

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