Very quickly some morning headlines. While a few of the geopolitical risk headlines may be behind us (Brazil election, Russian border, etc) I believe markets are waiting for this quarters earnings (and guidance) to set the stage. Multi-nationals with exposure overseas may struggle going forward if one believes the headlines below:
- IMF revises and raises growth for the US BUT lowers prospects for the world (4.0 to 3.0%)
- IMF says some valuations are "frothy"
- SODA warns of miss and citing lower US demand (stick a fork in it)
- Women's apparel mfgr CBK warns of lower sales; blames low mall traffic.
- Hong Kong retailers experience sharp sales decline (blames protests of course because happy people would be spending)
- AGCO cuts forecast, shares down 6% premarket
- Taiwan's exports growth slips
- MCD Japan expects net loss this year
- Slide in German industrial output stokes fear of recession
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