After the success of our first poll the results show that 66% of voters felt bullish on the outlook for the US equity markets in contrast to the 33% that were bearish. Thank you to all the people who voted.
Tomorrow morning is Asia’s and Europe’s first chance to react to the News released on Friday that 7 banks failed the European stress tests. The data was released as the US markets were open but after the Asian and European markets had closed for the weekend. The US markets closed higher on Friday evening suggesting that other worldwide markets will be playing catch up in early trading.
The key data releases coming out of the US this week are Wednesdays Durable Goods Orders data, this is expected to show a monthly gain of 1% after last month’s 1.1% fall. Then on Friday the first release of Q2 GDP figures come out. This is a major market moving figure and will show a great deal about the strength of the world’s largest economy. The figure is expected to be 2.5%, a reduction from 2.7% for Q1. This would continue trend that shows that the US’s economic growth rate is slowing.
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