Analyst Martin D. Weiss explains the massive monetary issues that Japan faces, and how these problems could lead to a recession large enough to drag the rest of Asian down with it.
U.S. stocks opened lower on Monday, the first trading day of the fourth quarter, as investors awaited more news surrounding the U.S. Department of Justice’s probe into Deutsche Bank AG. The S&P 500 slipped 5 points, or 0.2%, to 2,162. The Dow industrials fell 55 points, or 0.3%, to 18,252. The Nasdaq Composite was off 13 points, or 0.3%, to 5,298. The Wall Street Journal reported on Monday that no settlement deal has been presented to senior decision makers on either side.
Sterling slumped to a three-year low against the euro on Monday as Britain set a March deadline to start divorce proceedings from the European Union, while worries over Deutsche Bank and Europe's banking sector kept share prices in check.
Next Trading Day's Important Events
- 6:30 (GMT 3) RBA interest rate decision
- USDJPY: 101.35
- EURUSD: 1.1224
- S&P 500: 2,156.20
- NASDAQ : 5,290.22