Outlook: New Disc-less Xbox One Could Interfere with GameStop SalesDan RitterGoogle+Twitter More Articles 5/5.1038 Source: http:/www.flickr.com/photos/dlajholt/it’s Wedne Earnings season for the third quarter is winding down and the markets are bracing with mixed expectations for the all-important holiday season. Consumer spending levels are as unclear as ever as to the direction of monetary policy in the United States. By 8:50 a.m. Dow futures were off 0.54% S P 500 futures were off 0.53% and Nasdaq futures were off 0.73%.
The low level of inflation, as calculated by the consumer price index in October, is 2.2 per cent lower than expected by economists three months ago. Like the U.S., the BoE has set an inflation target of 2 per cent. Overall economic activity in the United Kingdom increased in the third quarter by 0.8 per cent and, according to the study, “surveys suggest expected robust growth in Q4.” The news is good but not great as is often the case. “Major headwinds at home as well as abroad exist, and there is a long way to go before the aftermath of the financial crisis has cleared up and economic conditions have stabilized,” the BoE says. The economy’s scale is still 2.5 percent below where it was in 2008 and almost 1 million people remain unemployed. A separate labor market survey released on Wednesday found that unemployment in the United Kingdom was steady at 7.6 percent while annual average earnings were up 0.7 percent. In mid-day trade, major European equity markets were down. The FTSE 100 was off 1.48 percent in the UK; the DAX was off 0.88 percent in Germany; the CAC 40 was off 0.87 percent in France; and the Euronext 100 index was down 0.90 percent. 3.
Chinese Economic Reform
The aim is to encourage the government market and companies to do their own job. All the government wants to do is strengthen monitoring and management and build a business-friendly environment, according to China Daily, said Wei Jianguo, vice president and secretary general of the China Center for International Economic Exchanges. A redistribution of power is at the heart of some of the proposed reforms which emerge from the meeting. Simply, China and the world have become far too difficult to efficiently manage a small ruling elite. Delegating power is a wise option because it can boost business and corporate efficiency and allow the market to determine what to do and where to go, China Development Research Foundation Secretary-General Lu Mai said in China Daily. But what is also critical is improved monitoring and supervision of some of the main hot issues such as food safety and pollution. Notably absent from the remarks, however, was language that discussed a growing debt problem facing local governments and a residence-based registration system that could hamper social mobility. Big Asian equity markets plunged sharply on Wednesday. The Hang Seng dropped 1.91 per cent to 22463.83 in Hong Kong and the SE Composite fell 1.83 per cent to 2087.94 in Shanghai. Blankfein: Banks and regulators are actually about to start playing Fun.