Tweet
Asian Stocks Trading in the U.S. Rise on Earnings Optimism
June 21, 2006 (Bloomberg)
Asian stocks trading in the U.S. rose for a second day on speculation corporate earnings will remain strong after Morgan Stanley and FedEx Corp. reported profit that exceeded analysts' estimates.
Asian exporters that depend on U.S. consumer demand gained. Toyota Motor Corp., Japan's biggest automaker, rose 63 cents to $101.27. Honda Motor Co., the No. 3 automaker in that country, climbed 30 cents to $31.65.
AntiSpin: What a relief! Relief rally, that is. Or too many traders went into the earnings reporting period short and got short squeezed. In any case, VIX shows a potentially tradable dip in volatility. With the Bank of Japan about to raise interest rates and the world's central banks experimenting with weening the Finance-Based Economy off cheep credit, expect more volatility to come.
June 21, 2006 (Bloomberg)
Asian stocks trading in the U.S. rose for a second day on speculation corporate earnings will remain strong after Morgan Stanley and FedEx Corp. reported profit that exceeded analysts' estimates.
Asian exporters that depend on U.S. consumer demand gained. Toyota Motor Corp., Japan's biggest automaker, rose 63 cents to $101.27. Honda Motor Co., the No. 3 automaker in that country, climbed 30 cents to $31.65.
AntiSpin: What a relief! Relief rally, that is. Or too many traders went into the earnings reporting period short and got short squeezed. In any case, VIX shows a potentially tradable dip in volatility. With the Bank of Japan about to raise interest rates and the world's central banks experimenting with weening the Finance-Based Economy off cheep credit, expect more volatility to come.