Corporations can't afford a 2000 basis point credit spread, which is double previous worst case scenarios. Without a solution to the credit crisis, there will be a flood of Chapter 11 bankruptcies in the US. There will also be an extended period where traders remain earning nil income from US Treasury Bills, which is a destruction of wealth.

On October 16, I published a Survivor's List of zero or low debt companies that appeared to my Belgium-based colleague Pascal Willain and I to be stocks worthy of consideration during the long-term cycle bottoming process in equity markets.

http://www.billcara.com/archives/2008/10/help_with_your_trading_plan_th.html

Hopefully, the Obama A-Team can attack the credit spread problems.

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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 Aug-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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