June 1 - The economic turmoil roiling markets will be in focus next week, as governments and investors monitor developments. And Fed chairman Ben Bernanke faces Congress and questions about QE3.
They disturbingly dismal US jobs report sinks stock markets on Friday pouring more wall on an already fragile world. Come Monday morning we will see how much more fall out markets and governments willing to work. The global economy is teetering on the edge as the engine of China's economy slowed sharply. Europe remains in critical condition and the US staggers. Panicked investors pour money into safe haven assets like this with spines and US treasuries. Driving down interest rates. But stock markets are seeing value erode quickly the NYSE gave up all gains made for the year on Friday. And schools -- life again as investors that jumps back and would -- us to watch for any global hand holding between the I am -- and Europe as well as any new messages from the White House. And -- all the chaos once again will be Fed Chairman Ben Bernanke. Phoebe -- heard -- monetary maestro will confront a very critical congress on Thursday. His competency will be questions and the value of the fat reassessed. As he is peppered with questions about QE3 and solutions to the economic crisis. There is now an expectation that the -- he even went there arsenal of limited tools will be forced to implement some sort of stimulus program. More critically US economic data will be out with ISM services leading the charge the broad gauge is expected to be on terror changed. According to UIFR from May's 53 point five. While a reading above fifty indicate the economy is still expanding and will also show that the expansion isn't -- Other key data points will be factory orders durable goods and US economy the Beige Book. Focus will also be on Thursday's jobless claims for any sign of improvements and the labor market. And markets and investors will be intensely focused. On all the Fed speakers and whether they will make any surprise announcements about policy. What they want here is how the -- plans to deal with hobbled economy. -- worst poll taken on Friday says Wall Street sees an increase chance the Fed will launch another round of monetary stimulus. Also they see an increase chance that the Fed will extend a current stimulus program called Operation Twist which -- later this month. We'll get a chance to see what the Fed will do when they meet on June 19 and twentieth. Well no wonder that after all this economic news someone is huffing and puffing. A volcano in Mexico -- so much smoke and ash that is worried about an eruption. Are considering evacuating nearby towns and villages. The volcano whose name ironically means smoking mountain lies just southeast of Mexico City. I'm putting on this is Reuters.