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The Focus This Week: Spain, China, Apple (NASDAQ:AAPL) Investors will return Monday to What's New on Spain'sbanking crisis, more economic data from China, and product updatesfrom Apple Inc. Last week, DJIA gained 3.6% to finish at 12,554; the NAS rose 4% tofinish at 2,858; and the S&P 500 ended the week + 3.7% at 1,326.For all 3 indexes the best week of the year. The eurozone crisis is now centered around financial and socialupheaval in Spain and Greece, will continue to play a Key role indetermining investor sentiment this week. Friday speculation grew that Spain would ask for outside help toshore up its banks. Reuters reported euro- zone officials wouldtalk via teleconference Saturday to discuss Spain'ssituation, and that Madrid will likely make a request for Europeanassistance sometime on Saturday. Spain may today move closer tobecoming the fourth euro-area nation to receive aid, as theInternational Monetary Fund said the country banks need atleast 37-B Euros (US$46-B) to bear up in a weaker economy. Greece, and the possibility Athens will take the country out of theEuro, could also return as a cause for concern or calm ahead of 17June elections. Former Greek Prime Minister George Papandreoupredicted that Greece will stay in the euro one and that theausterity measures required by the nation bailouts might beeased. On Friday, US President Barack Obama took a hard line with Greece,saying it would be a mistake for the country to leave the eurozone,and also calling upon the continents' leaders to boostEurope's banking sector. Late Friday, Moody's Investors Service said, as "Spainmoves closer to the need for direct external support from itsEuropean partners, the increased risk to the country'screditors may prompt further rating actions." Chinese data showed the World's 2nd-largest economy isslowing more rapidly than analysts had projected. China's industrial production grew 9.6% in May from a yearearlier, ves 9.3% growth in April, the nation's StatisticsBureau said. The result missed a 9.9% rise expected. On the inflation front: consumer and wholesale price gains easedmore than expected. The May consumer priceindex rose 3%, coolingfrom a rise of 3.4% in April, while the producer price index fell1.4%, signaling a deepening of the deflation seen in April's0.7% contraction. The data compared to forecasts for a 3.2%increase for the CPI and a 1.1% contraction in wholesale prices. Retail sales rose 13.8%, compared to a 14.1% gain in April, andweaker than analyst expectations for a 14.2% rise. Earlier in the week, China's central bank surprised marketsaround the world when it cut interest rates in an attempt to showsupport for economic growth. Shares of Apple, the World's most-valuable company by marketcapitalization and the biggest NAS component, could move Mondaywhen it launches its 1st gathering of developers since co-founderand chief executive, Steve Jobs death. The company said it will give updates on Mountain Lion, the nextupgrade to the Mac PC operating system, and iOS, the operatingsystem for the iPad and iPhone. Some analysts expect Apple to unveil a new line of Macs in time forthe back-to-school shopping season. The US data likely to get attention will be the 1st-time joblessclaims for the week of 6-9 June, with 377,000 claims forecast. The US industrial production figures for May are also expected tohave some bearing on the market on Friday. Economists polled expecta monthly decline of 0.1%. And the University of Michigan consumer sentiment index for June,which is also scheduled for Friday, is expected to slide to 78 from79.3 in May. Crude Oil futures Friday snapped a 5-wk losing streak but finishedlower at 84.10 bbl, could also take the spotlight as theOrganization of the Petroleum Exporting Countries meets in Viennato discuss targets and elect a new Secretary General. Contact the Author Share Us. We are high quality suppliers, our products such as Dual USB Power Bank Manufacturer , China Wireless Keyboard and Mouse Combo for oversee buyer. To know more, please visits Portable Power Bank.
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