SEC Helps the Richer Get Richer… (Bloomberg)
If you invest in either Facebook (FB) or Twitter (T), you should appreciate the Securities & Exchange Commission (SEC) decision late yesterday that lets businesses post their earnings on Twitter or via a status update on Facebook. That approval applies as long as the information isn’t restricted and shareholders are made aware in advance of any communication. That news opens the door wide for both tech titans to develop more extensive (and lucrative) relationships with the business communities. But don’t worry; you’re bound to find out almost immediately when these relationships start to pay off — through Twitter or Facebook.
Asian and European Markets Dip — Awaiting U.S. Reports (Reuters)
Far Eastern markets set an example for their European counterparts to follow, ending today’s trading session slightly down in anticipation of reports about U.S. unemployment and services industries. China’s Shanghai Composite Index and Hong Kong’s Hang Seng ended the session losing .11 percent and .14 percent, respectively. Of course, Japan held fast to its contrarian guns, posting a 2.99 percent gain. Meanwhile, European markets couldn’t sustain the momentum of yesterday’s rally — the largest in four weeks — as its bellwether indexes all lost ground, ahead of the U.S. announcements. England’s FTSE 100 fell .3 percent, while Germany’s Dax and the STOXX 50 Index closed down .18 percent and .32 percent, respectively. Tomorrow’s session should be a lot more lively, regardless of what the reports reveal.
Chinese Economic Beauty Only Skin Deep… (CNBC)
China’s Purchasing Manager’s Index (PMI) rating for its services sector rose to 55.6 in March, outpacing February’s score of 54.5 and indicating economic growth continues in the world’s second-largest economy. (A PMI score greater than 50 indicates expanding services activity, while a score below 50 signifies economic contraction.) However, a peek just below the surface of these latest figures reveals that China’s services PMI a year ago, during March, 2012, was a much more robust 58. So, while China is enjoying a nice little two-month economic rise, that performance comes up far short relative to 2012’s production. So, what’s that mean for investors? It may take another month to know.