10 Things You Need To Know Before The Opening Bell, November 28, 2011

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		Tech Entertainment Wall Street Markets Strategy Sports Lifestyle Politics Europe Video Latest Monday, November 28, 2011 Advertisement Good morning. Here's what you need to know. Asian markets were up in overnight trading, with the Hang Seng gaining 1.97%. After a weekend of rumors on a possible Euro-wide stability pact / fiscal union / Eurobond deal, Europe is surging, and U.S. futures are higher ahead of the market open. The IMF has denied rumors that up to €600 billion could be made available to Italy at a rate of between 4% - 5%, to give the country about 18 months to get back on track. Meanwhile, President Obama is hosting EU officials at the White House today, and is expected to push them for a solution to the region's sovereign debt crisis. Don't Miss: The real state of government deficits in the Eurozone > Over the weekend, all the buzz was about France and Germany reportedly discussing a new "stability pact" to fight the sovereign debt crisis. While few details on the pact were released, talks centered on changes to the EU treaty, and efforts at enforcing fiscal conservatism. The pact could also force the ECB to take a bigger role in fighting the crisis. It was also rumored that the pact could just be series of bilateral accords between just 9 eurozone countries. Now here are 5 people you've never heard of who really control the fate of Europe > Germany's finance ministry has denied reports of an elite eurobond system which would begin the process of creating a two-tier monetary union. EU Commission said the purpose of any eurobonds would be to preserve the euro zone, not to split it up. Meanwhile, a new poll shows that Germans largely oppose eurobonds and that support for chancellor Angela Merkel is increasing. Now here are 7 big debates happening in Europe right now > The OECD has slashed its growth forecast, saying the 34 OECD countries will grow 1.9% this year, down from previous projections of 2.3% growth; and 1.6% in 2012, down from 2.8%. The report said that mounting concerns over the survival of Europe's monetary union were the biggest risk to the global economy.  Click here to see 11 depressing charts from the OECD's report > Latin American steel company Ternium S.A. is paying $2.2 billion to buy a stake in Brazilian competitor Usiminas, from two of its minority shareholders. The deal is part of Ternium's move to strengthen its position in Latin America. New home sales data for October will be released at 10 AM ET. Consensus is for a drop to a seasonally adjusted annual rate of 310,000 units. Follow the release at Money Game > Moody's has warned that an escalation of the euro zone sovereign and banking crisis is threatening the credit ranking of all European sovereigns. Pakistan has stopped supplies for American-led NATO troops in Afghanistan, after a NATO air strike killed 24 Pakistani soldiers. U.S. military officials have said their forces can only sustain operations for a week in the event of such a shutdown. Belgium sold €2 billion of bonds maturing between 2018 and 2041 and the yield on 10-year government bonds fell to 5.69%. The auction saw demand for debt at 2.59 times the amount of notes sold, up from 1.65 times a month ago. This comes after Moody's downgraded Belgium's credit rating to AA with a negative outlook on Friday. Check out the 19 countries most likely to default > BONUS - Reese Witherspoon was spotted with her family at Disneyland, in Anaheim, California.  Please follow Money Game on Twitter and Facebook. Share this: Facebook Twitter Digg Reddit StumbleUpon LinkedIn The email address for your subscription is: dwyld.kwu.jobhuntportal11@blogger.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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