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U.S. Morning Call: AIG creeps away from Uncle Sam

Monday, September 10, 2012 - 03:14

Sep 10 - U.S. Treasury launches $18 billion AIG stock offering, and Chinese trade data points to global slowdown.

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China's fortunes looking bleaker and IT creeps away from Uncle Sam let's kick up your week with today's morning call. US stock index futures pointing to losses at the open and European stocks also cutting back on gains from last week. What's to blame. We trade data out of China this morning. Imports fell two point 6% on the year August badly missing expectations of a three and a half percent rise. And exports grew two point 7% also below. Forecasts. This is so bad that that you actually see. Both can turn no into -- external precious. And until -- indicates that it. They had no immediate solutions. Because is the Chinese authority already started to us relaxing monetary policy. And physical policy. A few months ago. And obviously. There's always -- -- there is no it effective. Exports account for 25%. At China's GDP in the weight issue is going. Analysts predict the country may see its weakest rate of expansion in thirteen years. Now let's do some domestic housekeeping is the US grapples with its own economic slowdown. GDP stuck at one point 7% in the second quarter and of course made another weak jobs report in August. So all that data is setting the stage this week. For a grand entrance from Bernanke and company -- jumpstart the economy. The bad likely to launch a third round spot purchases to drive down borrowing costs. Out of QE3 will probably take the form of housing related debt purchases. The Central Bank may also indulged in some mortgage backed securities. US treasuries. Out of stocks to watch for you this morning letting go can be bittersweet. But US government doing just that with AIG ending an eighteen billion dollar offering this month. AIG buying back five billion dollars about stock. That means of a rather five billion of the stock that means that for the first time in four years uncles and will be a minority investor in the group. Is that -- reduce the government state from 53%. To 20%. Also on our radar too big banks Wall Street Journal reporting JPMorgan considering a smaller bonus for CEO Jamie -- Citigroup also mulling changes in its executive -- structure to appease investors. Gadget geeks -- into San Francisco today for the first day and that techcrunch conference disrupt app that is what it's called. Here's speakers include Facebook's CEO Mark Zuckerberg making his first comments since going public. Co-founder Reid Hoffman -- of -- date aren't. While I ran it may want to stop by Apple's launch event Wednesday and stumble upon the latest model of the iPhone. Tim Cook -- addition of some other east these surprises. That morning called this Monday Paula thought what are Reuters Insider for the latest headlines. Check out our Reuters UT TV channel Reuters dot com slash Reuters TV I'm Rhonda -- this is writers.

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U.S. Morning Call: AIG creeps away from Uncle Sam

Monday, September 10, 2012 - 03:14