Market Outlook 5th - 9th September

Market Outlook
- WALL STREET:
US indices closed mixed last week. On the economic front, non farm payrolls were unchanged in August and unemployment rate in August stayed at 9.1%. In other news, the Federal Open Markets Committee (FOMC) statement said there was no clear consensus about what the best next easing step would be. "Some participants judged that none of the tools available to the FOMC would likely do much to promote a faster economic recovery". Looking at sectors, diversified financials (-3.49%) posted the weakest performance, followed by commercial and professional services (-2%), banks (-1.95%) and telecom services (-1.49%) while food, utilities, real estate and materials ended in positive territory. From a chartist view, the MT outlook of the S&P500 index remains bearish. Nevertheless, a limited technical rebound cannot be ruled out, as long as 1155 plays as a support role.

- EUROPE:
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