European markets were relatively buoyant this morning, despite falls in Asia overnight. Economic indicators showed the U.K.?s strong recovery is continuing. Italian manufacturing industry confidence is at its highest point in three years. French and Spanish consumption figures rise ? though partly because of higher heating outlays in France and spending on food prices in Spain. Two French IPOs show how unpredictable the reception for new stocks has become. Credit insurer Coface SA rises strongly on its Paris debut, but online payments company Worldline SA sinks below offer price. Airbus Group and engine-maker Rolls-Royce take off as Airbus signals revamp of A330 fleet. Bank of England?s mortgage lending guidelines are not as restrictive as previously feared. Tokyo market slips as effects of government?s economic stimulus on inflation seem to slow.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.