10 Things You Need To Know Before The Opening Bell, September 26, 2012

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		Tech Science Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Law International Video Latest Retail Wednesday, September 26, 2012 Advertisement Good morning. Here's what you need to know. Asian markets sold off in overnight trading with the Nikkei down 2.03 percent, falling to a two-week low. Europe is selling off and U.S. futures are flat. Two of Greece's largest labor unions have gone on strike today. This is the first massive anti-austerity strike since the coalition government took power, according to Reuters. After massive protests yesterday, demonstrators are back on the street in Spain as well. Prime minister Mariano Rajoy is prepared to ask for a bailout but only if borrowing costs stay high for a long period of time. Meanwhile, Spain is also grappling with another crisis as Catalonia announced elections and wants to hold a referendum on seceding from Spain. The Shanghai Composite tumbled 1.24 percent falling to fresh 3.5 year-lows. The index dipped below the 2,000 level according to CNBC and Chinese stocks are expected to take further hits in coming weeks. Don't Miss: Everything you need to know about Xi Jinping, China's president-in-waiting > Germany sold €3.19 billion of bonds maturing in 2022, short of its €5 billion target. Borrowing costs also increased at the auction. New home sales for August will be released at 10 a.m. ET. Economists polled by Bloomberg expect a rise in new home sales to an annual unit rate of 380K. Follow the release at Money Game > The German cabinet ratified the European Stability Mechanism, the latest bailout fund to help rein in the European debt crisis. Germany is the last member of the eurozone to ratify the ESM. Now here is what Citi thinks will happen to the global economy through the next three years > Barnes & Noble is planning two new versions of the Nook tablet. It will release a seven-inch tablet for $199, and a nine-inch tablet for $269. Radioshack's CEO James Gooch has stepped down. CFO Dorvin Lively is acting as CEO while the company looks for a successor for Gooch. Mortgage applications climbed in the last week after the Federal Reserve loosened stimulus policies earlier this month. Mortgage application activity was up 2.8 percent last week, while refinancing applications climbed 3.3 percent to a six-week high. Please follow Money Game on Twitter and Facebook. Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: ipat39@gmail.com Change Your Email Address | Unsubscribe | Subscribe | Subscribe to the Money Game RSS Feed Business Insider. 257 Park Avenue South, New York, NY 10010 Terms of Service | Privacy Policy

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