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Global markets continued their slide as investors digested more negative news out of Greece in spite of measures introduced by the Chinese government to stimulate the economy. Today, we discuss the prospect of a Greek exit from the euro, Baidu’s move into the smartphone market, and the no-good-very-bad month for casino stocks.
Once considered “market friendly,” Brazilian President Dilma Rousseff has started to unnerve investment banks and drive the Bovespa into a deep correction. Expect downgrades and maybe a few bottom feeding opportunities.
The absence of a dedicated iron ore ETF has caused commodity-oriented traders some consternation when iron prices are soaring, and relief in the opposite scenario. But those looking for a way to trade the iron mining industry have a few more options.
These are exciting times for a market that has lost 9.5% over the last two years between a sagging currency and a drumbeat of setbacks for the local heavyweights. That’s right, we’re talking about Brazil.
Even though American indices were up on this balmy Friday, markets around the world did not fare as well with European concerns trumping good numbers from emerging market telecom giant América Móvil on many exchanges.
U.S. futures are ticking higher suggesting a possible reversal of fortune at the open. The NIKKEI closed down 0.78% while HIS and China closed up 0.26% and 0.01% respectively.
The rise of Brazil’s middle class over roughly the past decade is nothing short of remarkable.
