10 Things You Need To Know Before The Opening Bell, October 14, 2011

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Friday, October 14, 2011 Advertisement Good morning. Here's what you need to know. Asian markets were mostly down in overnight trading, with the Hang Seng falling 1.36%, after the end-of-the-day sell-off in the U.S. and the downgrade of Spain and global banks. Europe is higher though, and U.S. futures are moderately higher ahead of the market open. European officials are working on a rescue plan that could include deeper losses for holders of Greek bonds, higher bank capital levels and increased power for the EFSF. Greek investors are bracing for a 60% loss on their investments. European leaders could complete the plan at the October 23 summit. Meanwhile, ECB Executive Board member Juergen Stark said Greece exiting the Euro is not an option. China's inflation rate eased to 6.1% in September, down from 6.2% the previous month. Food inflation however held steady at 13.4%. Bank lending in September was at its lowest since 2009. Meanwhile, India's wholesale-price index rose 9.72% from a year ago, after 9.78% rise in August. Inflation stayed above the 9% mark for the 10th consecutive month, and central bank governor Duvvuri Subbarao previously said that it would maintain its anti-inflationary stance. Now here's what's really going in BRICS economies > Euro-area inflation rose to 3% in September, up from 2.5% the previous month. Inflation in the euro-area rose at its fastest pace in 3 years pushed by energy costs. Retail sales and import and export prices for September will be released at  8:30 AM ET. Expectations are for a 0.8% month-over-month increase in retail sales and 0.5% drop in import prices from the previous month. Follow the release at Money Game > Google posted a Q3 profit of $2.73 billion or $8.33 a share, on revenue of $9.72 billion, beating expectations. Meanwhile it is reportedly getting closer to launching a music download store again, after its Google Music Beta was considered too limited. Also in tech world: Apple's iPhone 4S gets released today. Now here are nine questions we desperately want answered during earnings season > Consumer sentiment data for October will be released at 9:55 AM ET and business inventories for August will be released at 10 AM ET. Consensus is for a sentiment index level of 60, and 0.4% month-over-month change in inventories. Follow the release at Money Game > Brookfield Properties, owners of Zuccotti Park have reportedly withdrawn their request to have NYPD clean-up the park. Occupy Wall Street protestors were preparing to block the park from a police incursion, at the risk of being arrested. Check out what they're chanting at Occupy Wall Street > UK average home prices fell 0.3% from August to $343,000. Prices fell for the first time in three months. The housing market is struggling as banks restrict lending and inflation is picking up faster than wage growth. Fitch threatened downgrades across the global banking system after U.S. markets closed yesterday. The banks impacted by the ratings include Goldman Sachs, Barclays, BNP Paribas, Morgan Stanley, Societe Generale, Credit Suisse and Deutsche Bank. Meanwhile, S&P downgraded Spain's long-term credit rating to AA- from AA, and affirmed its short-term rating of A-1+. Don't Miss: European banks praying for the PIIGS to get saved > BONUS - Gisele Bundchen and Tom Brady are selling their Boston penthouse for $10.5 million. 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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