Fwd: 10 Things You Need To Know Before The Opening Bell, September 8, 2011

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From: Business Insider <newsletter@businessinsider.com>
Date: 2011/9/8
Subject: 10 Things You Need To Know Before The Opening Bell, September 8, 2011
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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Thursday, September 8, 2011 Advertisement Good morning. Here's what you need to know. Asian markets were mostly up in overnight trading but the Shanghai Composite fell 0.68%. Europe is higher and U.S. futures are flat. German finance minister Wolfgang Schaeuble reiterated today that Greece would have to meet its obligations to receive its next tranche of loans and added that member states had to solve their own budgetary problems. And after Schaeuble's critical comments, a spokesman for the EU Commission said there is no debate on Greece leaving the euro. But clearly people are extremely concerned. Yields on Greek two-year note yields rose to a record 55.6%. Now here is a quick guide to who gets crushed if Greece defaults > The ECB will announce its rate decision and Jean-Claude Trichet will hold a press conference. Everyone is wondering whether he'll move towards more easing and possibly roll back previous rate cuts. Here's a preview of the speech > Meanwhile, the Bank of England held interest rates steady and decided against more easing, holding QE asset purchases at £200 billion. Spanish industrial production plunged 5.7% in July, the most in more than a year, after a 2.6% decline in June. Don't Miss: The 10 most competitive countries in the world > OECD cut its global growth forecast and its chief economist has said economies will post quarterly growth rate would average less that 0.2% in the second half of the year. The OECD also recommended that central banks loosen their monetary policies if their economies weaken. Check out the OECD's grim presentation on the global economy > International trade data for July and initial jobless claims will be released at 8:30 AM ET. International trade gap is expected to shrink to $51.9 billion and consensus is for a slight drop in claims to 408K. Follow the release at Money Game > Ratings agency Fitch warned today that it might downgrade China and Japan's credit rating within two years, as their banks struggle under massive debt loads. This comes after a lending surge in both nations that was aimed at boosting the economy.  In earnings news, Smithfield Foods Inc, the world's biggest pork producer posted an 8% rise in Q1 net income to $82.1 million or $0.49 a share on revenue of $3.09 billion. Meanwhile, firearm manufacturer Smith & Wesson Holding Corp. reported a decline in Q1 net income because of a drop in sales at its security division. President Obama will deliver his big jobs speech today but many details from his speech have already leaked. He is expected to unveil a $300 billion jobs package that would be split between tax cuts, infrastructure spending and transfer payments to state and local governments. Meanwhile, Republicans have already indicated their intent to oppose the President's plans. Check out the 10 states with the biggest unemployment problems > BONUS - Reese Witherspoon was hit by a car while jogging near her home in Santa Monica, California. Please follow Money Game on Twitter and Facebook. Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: ipat39@gmail.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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