Russian Bounce: If you are playing Russia and have a view of Putin’s more conciliatory tone allows you to trade the overdone moves in many names.
Overnight emerging markets trading was interesting to say the least. With multiple straight down sessions in a row and Japan’s NIKKEI suffering the most — five straight sessions to the downside — market participants began to pick through the rubble after strong earnings from Caterpillar (CAT, quote) and Boeing (BA, quote).
Overnight markets in Asia took a beating across the board on escalated fears the emerging market of Greece will not be able to pay off its debt. There are growing concerns the euro zone will be forced to cut Greece loose or approve some kind of debt forgiveness, wiping out money owed for the bailout.
Monday’s best web covers McDonald’s fight for market share in India, BP’s contract to supply LNG to Israel, Yandex’s foray into Turkey, power supply concerns in Indonesia, and the South American inter-continental highway.
For better or worse, the economy of Russia is tied to its huge reserves of natural resources. But Russia also has some important technology stocks. Here are four you need to know.
In the BRICs today we look at China’s effort to control the housing market, DirecTV preparing a bid for Brazilian wireless spectrum, ten Russian internet companies to watch, an upbeat interview with the CEO of HCL Technologies, and U.S. efforts to cool tensions in the South China Sea.
It may not exactly be news that Russian reforms are still unable to fully embrace capitalism and open its markets to foreign investors.
So the Facebook IPO is wobbling a little — not really the thunder the market needed — and traders are looking for the aftershocks. We’re leading off with emerging markets stocks with exposure to the social media theme on tonight’s Trading the Globe (7:30 ET, CNBC).