Reuters

Wall Street set to open lower as commodity prices slide

Copper prices hit two-week lows, while oil was down about 2 percent. The Chinese
government's efforts to stimulate growth by easing fiscal and monetary policy h
ave failed to calm nerves. Atlanta Fed President Dennis Lockhart said on Monday
a rate hike later this year was still possible.
Asian shares tentative as global growth concerns linger
By Hideyuki Sano

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TOKYO (Reuters) - Asian shares got off to a cautious start on Thursday after mor
e dour economic news in China and the United States prompted a bruising selloff
the previous day.
Worries that an eventual tightening in U.S. monetary policy and slower growth in
China could knock the global economy have scared off investors, particularly th
ose invested in stocks and commodities.
A Stimulus Plan for American Homeowners
HARP was designed so that the typical homeowners can qualify for low rates, and
if you owe less than $625,000 on your home, the chances of qualifying could be v
ery high. The government wants banks to cut rates and allow the typical homeowne
r to take advantage of those rates which acts as a true stimulus plan for the mi
ddle class - This puts more money in your pocket and boosts the economy.
But banks do not want you to know about this program because:
MSCI's broadest index of Asia-Pacific shares outside Japan was up a touch in ear
ly trade after having posted their biggest single-day fall in almost a month the
previous day.
Japan's Nikkei average, opening for the first time since Friday after national h
olidays, tumbled 1.6 percent, edging near its seven-month low touched earlier th
is year.
Wall Street also lost ground on Wednesday, dragged down by economic reports port
raying U.S. factory growth as tepid and China in its worst manufacturing contrac
tion since the global financial crisis.

"Investors will be cautious for the time being. Markets will become steadier onl
y when uncertainties over Chinese economy and the U.S. monetary policy diminish,
" said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management.
Adding to the gloom, emissions scandal at German automaker Volkswagen (VOWG_p.DE
) are raising worries the crisis at the car maker could develop into the biggest
threat to Europe's largest economy.
Although shares in Volkswagen rose 5.2 percent on Wednesday, they had lost about
a third of its value in the previous two sessions.
In the currency market, the euro was helped by comments from European Central Ba
nk President Mario Draghi that the bank needed more time to decide on whether fu
rther stimulus is required.
The euro rose to $1.1179, having bounced back from three-week low of $1.1105 tou
ched on Wednesday.
The yen has been stuck in a narrow trading range over the past week and last sto
od at 120.21 to the dollar.
The spectre of higher U.S. interest rates and slower growth in China continues t
o weigh on many emerging market currencies, however.
The Brazilian real sank to an all-time low of 4.179 per dollar, clobbered by a r
ecession, fiscal deficit and political instability following corruption allegati
ons against leading politicians in Brazil, the world's seventh largest economy.
Oil prices slipped toward the lower end of their trading ranges in the past week
as the bullish impact from lower crude inventories was offset by large gasoline
builds that raised concerns about high autumn fuel supplies. [O/R]
Brent futures traded at $47.94 per barrel, after having lost 2.7 percent on Wedn
esday.
Platinum, used in diesel catalysts to clean up exhaust emissions, slid to its lo
west level in more than 6 1/2 years on Wednesday on fears about reduced demand f
rom the auto sector.
It last stood at $950.05 per ounce, having fallen to as low as $924.50.

When homeowners visit FetchARate they may be surprised to find out that they may
qualify for a new home refinance plan that will lower their mortgage to astonis
hingly low rates.
Millions of smart homeowners have taken advantage of this brilliant government p
rogram called the Home Affordable Refinance Plan (HARP) and have reduced their m
onthly payments by as much as $4,264 each year.* This program, designed to help
just about any homeowner take advantage of surprisingly low rates, has banks on
the edge - we wouldn't be surprised if most banks hope you never learn about thi
s program.
The government has announced that this program will expire in 2015 and is making
a final push urging homeowners to take advantage of this program. Most homeowne
rs will qualify for this program and the process is very simply. If you want to

lower you mortgage payments, pay off your mortgage faster or get some extra need
ed cash out, it's vital you act now.