Europe, US, India view: 10 cues to help you start your week

Moneycontrol Bureau

The contagion across the Eurozone continues to push global markets towards the brink as whispers of an impending recession get louder. Another volatile session is expected to course through most global economies as Europe grapples with debt and the US tries to find some middle ground on its budget deficit.

US Markets

Wall Street closed on Friday mixed in another thin choppy session. Investors continued to be reluctant to commit to the market amid ongoing nervousness over debt talks in Europe and Washington. Major indices closed at their worst levels in almost two months. European markets too hit their six-week closing lows.

Dow Jones Industrial Average rose 0.22% or 25.43 points at 11796.16. Nasdaq Composite declined 0.6% or 15.49 points at 2572.5. Standard & Poor's 500 declined 0.04% or 0.48 points at 1215.65.

US lawmakers face a Wednesday deadline to carve out a plan to cut USD 1.2 trillion to USD 1.5 trillion from the US budget deficit over the next 10-years.

US Economic Data

In macro economic data, the leading economic index rose 0:9% in October to 117.4 versus 0.1% increase in September. Economists expected a 0.6% rise. The index is a gauge of future US economic activity.

The gridlock over the US debt deal intensifies after the bipartisan Super Committee, tasked with agreeing to USD 1.2 trillion worth of budget cuts may most likely announce its failure in terms of reaching a deal.

European Markets

In Europe, stock markets closed mostly lower on Friday, amid concern about rising borrowing costs for the eurozone's stronger economies, including France.

After cautious comments by German chancellor Angela Merkel cooled market hopes that Germany would back monetary measures to tackle a debt crisis in the Eurozone.

Responding to a call for