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Seth Golden
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Chief Market Strategist at Capital Ladders Advisory Group LLC.
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  • Friday Morning Global Outlook

    U.S. equity futures are decisively negative in the early going, taking their lead from European markets. European stock markets moved deep into the red on Friday, with investors cautious to take on too much risk ahead of U.S. consumer data and euro-zone unemployment figures due later in the day. In the euro zone, labor data is on tap, which investors will watch to see whether the unemployment rate continued to climb in April to a euro-era high.

    Data out of Germany showed retail sales dropped 0.4% in April, missing expectations of a 0.4% improvement. The notoriously volatile indicator fell by a real 0.4 percent on the month after dropping by an upwardly revised 0.1 percent in March, data from the Federal Statistics Office showed. That compared with the consensus forecast in a Reuters poll for a 0.2 percent monthly gain. Christian Schulz, senior economist at Berenberg Bank, said the weaker-than-expected figure was due to spring coming late this year.

    Continuing with our look at global data, and on the heels of fresh United States GDP data yesterday, India released its latest read on its economy over night. India's gross domestic product grew 4.8% in the fiscal fourth quarter ended March 31 from the year-earlier period, according to official data released Friday. The rate, which matched economists' estimates, was slightly ahead of the 4.7% growth recorded in the three months ended Dec. 31, but weaker than the 5.1% expansion in the year-earlier period. GDP growth in the full year ended March 31 came in at 5%, the weakest rate of expansion in a decade. Indian stocks held their losses after the data, with the 30-stock benchmark Sensex IN: down 1.1% at 19,992.33. The Indian rupee also stayed weak, with the U.S. dollar USD/INR changing hands for 56.55 rupees, compared with 56.38 rupees late in North American trade.

    Now let's move on to Western Europe and take a look at Sweden's latest outlook as determined by the IMF. The IMF announced today that the Swedish economy would be held back for much of 2013 in the face of its euro zone partners' weakness. However, the outlook for 2014 is better. The IMF is expecting Sweden to grow by 1.1% this year and 2.3% in 2014.

    U.S. investors as well as European investors will be eyeing key pieces of economic data due out later this morning from the U.S. government and municipalities. Consumer Spending will be the first point of economic data due out today at 8:30 a.m. Eastern Time. At 9:45 a.m., the Chicago PMI for May will be released, the last regional manufacturing gauge before the Institute for Supply Management national manufacturing survey is released next week. The Chicago PMI is expected to come in at 49.9, better than the 3.5-year low of 49.0 posted in April but under the 50 mark that would indicate expansion. The final reading of the University of Michigan's consumer sentiment survey for May is expected to edge up to 83.8, which would be the best level in more than six years. That's due to be released at 9:55 a.m. Eastern Time.

    Today should mark another choppy session on Wall Street as we close out the month of May. As we look forward into next week, all eyes will refocus on the employment picture in the United States. May Non-Farm Payroll data will be released next Friday after Wednesday's early peak through the ADP report.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

    May 31 8:08 AM | Link | Comment!
  • SodaStream Research

    Our team of market research analysts have uncovered new information regarding SodaStream's expansion efforts. Traders, this is definitely for you. Are you long, short, don't have a position currently. If not, you may want to pay attention as we will be leaking our latest find in the coming days, and yes, this one is a big one!! Good luck and be well!

    Disclosure: I am long SODA.

    Tags: SODA
    May 25 8:00 PM | Link | Comment!
  • Bloomberg To Release SODA Article

    Bloomberg news will release an article highlighting SodaStream sometime today. With the Super Bowl commercial being rejected many are curious as to what will come next. Some are wondering if the roughly $4 million in A&P will be worth it.

    Tags: SODA
    Jan 30 2:54 PM | Link | Comment!
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