By Chris Becker
The dour mood in Asia was reflected in European stocks overnight, but US markets and commodities rebounded, the former mainly on the back of Apples stock rising, the latter on a better than expected DOE report for oil. Volatility is still ruling here as markets await next week’s Federal Reserve meeting.
Recapping Asia’s session, where despite the best efforts of the National Plunge Protection Team, the Shanghai Composite fell a little over 1% but is still above its terminal support line. It still has not been able to clear the recent weekly high nor gain any positive momentum, so I’m not getting excited here that the deflated bubble is finished:
