Japan has some bad news today which may affect our markets. The country reported a very small increase in its GDP for the second quarter of 0.1%. In the first quarter the country grew by 1.2 %. Obviously many are distraught that the economy overall is not growing at a fast rate.

This week housing data on new starts is released, inflation numbers on the consumer level, production of industrials, and unemployment numbers on the weekly level. Today manufacturing numbers were expected to be better than the month of July as it slowed dramatically last month. Data was announced and it seems to be showing a downward trend in our economy. The August numbers did not meet expectations even though the number rose from 5.08 in July to 7.10 in August. The number that has people concerned is the new orders statistic which shows a negative number. June of 2009 was the last time new orders fell below zero.

Lowe’s announced a profit increase of 10% for the second quarter but cut its future revenue numbers due to the economy’s somewhat bleak future. Lowes has over 1724 stores in the Canada, the U.S., and Mexico so it is natural not to set the bar too high; just in case the economy does have another setback. Lowes major competitor Home Depot will announce its earnings tomorrow.

Did you take note all the remarkable point of the market this week? Just be sure you get the points for your trading week! Now, have a look at the chart for more information!


Chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.

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