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Digital News Report – Asian stock markets are already moving lower Tuesday after gains on Monday.
The Dow Jones Industrial Average (DJIA) closed 48.22 points lower to 10,860.26 on Monday. The S&P 500 and Nasdaq Composite indexes were also lower.
The Nikkei 225 closed 131 points higher (1.39%) to 9,603.14. The Hang Seng Index in China was down 221 points (1.0%) to 22,340.84. But early Tuesday morning the indexes are opening lower.
The Nikkie 225 is already 107.38 points lower (-1.12%) to 9,495.76. The Hang Seng and Shanghai indexes are also opening lower. The Hang Seng is down 230.89 (-1.03%) to 22,109.95. Markets in India and Australia are also opening lower.
On Tuesday Standard and Poor’s will be releasing their Case Shiller 20-city Index data. Last month the index was up 4.4 percent. There is a two month lag-time so the data was for June 2010 prices. Analysts expect home prices to increase between 3.1% and 3.3% in July 2010.
The Consumer Confidence Board will release their consumer confidence survey results. Last month they reported that confidence was only 53.5. In 1985 confidence was 100. Analysts expect the index to increase to 54. Other analysts believe the index could be as low as 53.
By: Tina Brown