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Stock futures slip on global rout, retail sales loom
marketwatch.com ^ | June 13, 2013 | Barbara Kollmeyer

Posted on 06/13/2013 5:20:05 AM PDT by John W

MADRID (MarketWatch) — U.S. stock futures pared losses, but were still lower on Thursday, after as deep losses pummeled Asia markets and Europe also fell sharply on unease over the prospect of a pullback in central bank easy money policies. Adding downside weight, the World Bank cut its global growth forecast.

A busy data day includes weekly jobless claims and a key retail sales report that’s expected to show a rebound in spending.

“The long-awaited selloff in global markets is finally here after the stellar performances of equities in the first quarter of the year,” said Ishaq Siddiqi, market strategist with ETX Capital, in a note.

“This selloff most certainly has momentum as there seems little to suggest that the Fed will not taper stimulus and the ECB has demonstrated greater unwillingness to respond with measures to stimulate the euro zone and the BOJ stood firm on not adding more QE on Tuesday,” he said.

(Excerpt) Read more at marketwatch.com ...


TOPICS: Business/Economy; News/Current Events
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1 posted on 06/13/2013 5:20:05 AM PDT by John W
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To: John W
You mean a convenient excuse to do profit taking, a phrase that the business press seems to totally not understand clearly nowadays!
2 posted on 06/13/2013 5:37:15 AM PDT by RayChuang88 (FairTax: America's economic cure)
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To: John W

Retail Sales +0.6% Consensus Forecast +0.4%

Initial Claims 334K Consensus Forecast 346K


3 posted on 06/13/2013 5:39:38 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: RayChuang88
The free money is being quietly removed a bit at a time. One can easily see it in the interest rate curve quickly laddering up in the years beyond 5. The end of the free money will have a few effects, some good, mostly bad for the market. The money which went into equities due to low savings returns will return to fixed areas, dropping the markets perhaps precipitously. Our budget deficit will skyrocket as interest on the debt becomes strangling. Savers will now get some return on their money (a good thing). On balance, this will not be good for the real estate industry. Of course, the Prince of Buffoonery will continue to roll merrily along and probably blame Bush.
4 posted on 06/13/2013 5:45:12 AM PDT by Mouton (108th MI Group.....68-71)
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