Investors Still Wary Of Euro Area Problems

Wall Street turned lower Monday in early trading after a rather favorable, U.S. markets remain weakened by the debt crisis in the eurozone. During the day, the Dow Jones was down 0.1% at 12,348.5 points, while the Nasdaq Composite Index fell back 0.2% to 2668.9 points.

The joint press conference of Nicolas Sarkozy and Angela Merkel broadcast live from Berlin did not result in any dramatic announcement, except to reaffirm that the ‘golden rule’ should be adopted by most European partners by in late March.

“Investors remain skeptical about the developments in the euro area. A plethora of summits are scheduled in January and to believe that markets begin the week, their hopes are not very big, ‘says one at Capital Spreads.

‘The latest economic data surprise on the upside, but it does not seem to be enough to restore investors desire to repurchase shares’, said the broker.

The euro saw their lead melt as a result of 1.2775 to 1.2735 dollar.

Alcoa will have the difficult task of reassuring investors that evening after the market close.

The consensus expects a loss of one cent per share in the fourth quarter sales of $ 5.8 billion, but the prospects for the aluminum group may well be surprised.

Listed on the Dow Jones, the action of 2.5% advance in the meantime.

The technology sector is worth a few hours before the opening of the high mass of electronics, the CES in Las Vegas.

Undecided Direction For Euro Against Major Currencies

The single European currency did not know where to turn Wednesday noon after an Ecofin Council that has left traders dissatisfied. Around 24:40, the euro is perfectly stable against the dollar at 1.3333 dollar the euro. It ranged from 1.3259 this morning and 1.3359.

The European currency is 0.15% against the yen at 104.2 and against the Swiss franc to 1.2285, but loses much against the pound at 0.8527.

About the European sovereign crisis, the morale of traders still alternates between the hope raised by the effects of official announcement of the old continent and concerns about the real nature of decisions. Yesterday, the meeting of central bankers in the euro area (Ecofin) has released a tranche (the sixth, traders calculate Pictet & Cie) of 8 billion euros in aid to Greece in exchange for austerity measures. Reviewed by Aurel BGC, ‘there will be no default of Greece before Christmas.

However, the European Council of December 8 and 9 this afternoon raises more doubts. The famous European Financial Stability Fund (EFSF) is likely not to be given the capacity of intervention of 1,000 billion initially referred