Coming week could bring new market jitters

After closing with a record point loss for the week, the US stock market may have new fears to contend with next week with earning reports expected.

October is a traditionally ominous as the stock market crashes of 1929 and 1987 both hit during this month. Financial and high tech companies will report their earnings next week.

There will also be inflation reports on Wednesday and Thursday. Declining oil and real estate prices might have depressed inflation, but we have to consider the sudden increase in money supply. Also, OPEC has called an emergency meeting in mid-November probably aimed at reducing oil production.

A number of other important economic indicators will be announced on Wednesday and Thursday.

Wall Street Braces For Earnings Season
Forbes, NY - Oct 6, 2008

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World markets plunge

Asian markets dropped sharply overnight as Japan saw its biggest one day drop since 1987. Stocks in Europe have also plummeted leading to steep decline after the opening bell on Wall Street.

Both Japan and Europe are injecting massive sums of capital into the markets in an attempt to stabilize the situation.

Investors may be heading for safe havens though, especially those worried about their retirement accounts. The yen and US treasuries are rising. The yen is being repatriated in large quantities as investors pay off low-interest loans in Japanese currency.

The Associated Press

Global markets smacked down hard; US eyes another dive
USA Today - 1 hour ago
By Jeffrey Stinson and Paul Wiseman, USA TODAY European stock markets followed Asia and America into the deep Friday, with recession-worried investors ...

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