Wednesday, July 15, 2009

Midday Briefing: A Quick International Look

Here we can see the same pattern in the international stock indexes as in the U.S.: shares holding their May lows and now rebounding into the May/June trading range. Emerging market stocks (EEM; top chart) have shown impressive support in the 30 area; shares from Europe, the Far East, and Australasia (EFA; bottom chart) have held well above 43. On a relative basis, FXI (China; not shown) looks quite strong; RSX (Russia; not shown) is still well off its highs.