Fundselect: Hurricane Irene zooms past Wall street, next week..

Sunday, August 28, 2011

Hurricane Irene zooms past Wall street, next week..

On Friday as Wall Street Messiah FED Governer, Ben Bernanke ended his Speech at Jackson Hole, Wall Street fell on QE-3 disappointment. But, Soon rose on the Hurricane Irene disaster possibilities for its own selfish reasons. As, I write Virginia stands devastated, the New York transit system stand suspended. North Carolina, Virginia and Florida, continue reporting human and material losses. While, I posted correctly about the Wall street recovery but the Irene seems to have subdued to Thunder storm from Category 2 hurricane. The extensive preparations to commence trading on Monday, still indicate Lack Lustre trading.

While, Mumbai with Met dept busy on at Ram lilla Maidan, Delhi, forgot to warn Heavy rains, putting the trading on Monday a doubt. With Ganapati/Ramzan on Corner, it seem the week is truncated.

The Chinease data on Industrial Production and Profitability showing recovery, Expect a sudden tightening bias by Chinese Central Bank sooner.

Indian Fiasco and Corruption Strangle :
FICCI business confidence nose diving to 51 from 63 shows the slowing biases and Stagflation in full bloom. The Supreme Court Decision to extend the Mining Ban is likely to affect many Companies. India's Anti Corruption Movement seems to have taken breather of a sort. Not for long, as 2G scam Case is waiting in the anvil and lurking to rock the ship.

Next week Data :

Monday :Personal Income and Outlays Tuesday India GDP Nos
US Consumer Confidence