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 Economic Data  Current Events  BRICs

 Any level at 50 or above signifies growth in the manufacturing sector.  Between 43 and 50, indicates that the U.S. economy is still growing even though the sector is contracting.  Below 43 indicates that the economy is in recession.

 Jobless claims continue to come down but ever so slowly  Better than Expectations

 Keeping the fed funds target unchanged, the Fed retained language that rates will remain exceptionally low through mid-2013  Will continue to extend the average maturity of its holdings of Treasuries in Operation Twist.  Remains moderately positive about economic growth  Sees a stronger economy in the third quarter and now expects a moderate pace of economic growth in coming quarters.  Leaving the door open for additional ease with the emphasis on significant downside risks remaining

Draghi is the new ECB president - Jon Claude Trichet retired

Samsung Tops Apple as No. 1 Smartphone Maker ‏

Groupon advanced 31 percent in its trading debut

MF Global Falls Victim to Europe ‏

S&P 1257 is the break-even point for year If the market goes above that level, it could trigger BUY orders ‏

The High Speed China/Asia/BRICs The Slow Speed Developed Markets (DM)

Goldman Sachs: “The last decade saw the BRICs make their mark on the global economic landscape. Over the past 10 years they have contributed over a third of world GDP growth and grown from one-sixth of the world economy to almost a quarter. Looking forward to the coming decade, we expect this trend to continue and become even more pronounced”

 Gerdau: (GGB)  Vale: (VALE)  Petrobras: (PBR)  Banco Sandtander: (BSBR) Commodity Producing Country

 Gazprom: (OGZPY)  Mechel: (MTL)  Mobile TeleSystems: (MBT)  Vimple Communications: (VIP)

 ETFs:  iPath MSCI India: (INP)  WisdomTree India Earnings Fund: (EPI)  PowerShares India: (PIN)

China

 China has their currency pegged to the U.S. dollar in order to keep their currency cheap  Good for them - Bad for us  When China starts to appreciate their currency, it will lower the DM's currency against China's  Would make the DM more competitive  Should boost growth in DM since exports is the #1 way to boost an economy and have high growth/GDP

Bloomberg Video /

 If China does appreciate their currency too quickly, many factories could go bankrupt since they have slim profit margins  If that happens unemployment could sky-rocket, and with a 1.3 billion person population, massive social unrest could occur

 When countries have massive growth and become rich (usually through exports), it's natural for that economy to transition into a service/consumption economy like the U.S. and Europe  The solution to this 2-speed global economy is for countries like China to slowly transition into a higher consumer/service economy  social unrest

Export/ Manufacturing Country  Macau  Las Vegas Sands: (LVS)  Wynn Resorts: (WYNN) PetroChina: (PTR) Aluminum Corp of China: (ACH)

(BRIL): 2X Bull

Jim O’Neil Start min: 1:00 Thu 20 Oct 11 | 07:03 AM ET