Tom Hanna's Lifestream

Commentary and Overnight TradingThe Hang Seng Index is down more than 3% and the S&P/ASX 200 is down 0.73%, US stock market futures are mixed with DJIA futures down slightly, S&P500 up slightly and NASDAQ down slightly. NYMEX Crude Oil futures are down more than 1% on reports that Chinese oil production will rise 1.2%. This news after the US Energy Information Administration last week reported that three new US platforms coming online next year will produce nearly as much oil as the state of California. The dollar is up less than a tenth of a percent against the yen and the Canadian dollar and down against the euro and the pound. [3:29 AM Eastern]Monday's Economic NumbersAustralian Leading Index fell for second month Leading Index: Down 0.5% Coincident Index: Up 0.2%Mexican Leading Index dropped more than 5% in October Leading Index: Down 5.7% Coincident: Down 0.2%What I'm ReadingForeclosure Mitigation Makes Little HeadwayIntensified efforts by mortgage servicers to help borrowersstay in their homes failed to stem the growing number of foreclosuresin the third quarter.Saudi Arabia to Boost SpendingSaudi Arabia plans to ramp up government spending next yearand incur its first budget deficit in six years to keep its economygrowing.France's Consumer Spending Unexpectedly Rebounds as Energy Prices Decline French consumer spending unexpectedlyrebounded in November as stimulus measures and declining energyprices cushioned the impact of the deteriorating economicenvironment. China Steps to Increase Consumer Spending May Follow Latest Rate Reduction China may follow its latest interest-rate cut with steps to spur consumer spending as deepeningrecessions in the U.S. and Europe pummel exports, one of the mainengines of the world's fourth-largest economy. New Zealand Economy Shrinks 0.4% as Recession Deepens on Spending, Exports New Zealand’s economy contracted forthe third straight quarter, extending the nation’s firstrecession in 10 years and adding to the prospect the centralbank will cut interest rates to a record low next month. Frozen Ports From Long Beach to Singapore Presage Bleak Trade Into 2010 Chris Lytle, chief operating officerof the port of Long Beach, California, took in a panorama of theslumping world economy from his rooftop observation deck one daythis month. Chile's Copper Windfall Props Up Spending While Ecuador Defaults on Bonds Chilean homemaker Majorie Rojo shrugswhen asked about the crash in the price of copper, the engine ofher nation’s economy. Won, Rupee, Asia's Biggest Losers, Will Shine in 2009, Moody's Unit Says South Korea’s won and India’s rupee,Asia’s biggest losers this year, will be the region’s biggestgainers from improved appetite for emerging-market assets and arecovery in the global economy, said Moody’s Economy.com. Thailand's New Government May Increase Stimulus Spending by 80%, Korn Says Thailand's new government mayincrease spending by 80 percent to spur an economy hurt by theglobal recession and domestic political strife, Finance MinisterKorn Chatikavanij said. World economies slide into recession Dec 23 (Reuters) - New Zealand's economy contracted by itsbiggest amount in eight years, third quarter data showed onTuesday, reinforcing expectations that its recession will notlift until well into 2009Asian shares ignore China cut Dec 23 - Asia stock markets retreated for athird straight day on Tuesday as more investors locked in profits onthe year-end rally and prepared to close their books ignoring a ratecut by china.  Thanks for reading. This content is originally from EconoIndicators or The Economic Indicators Blogger blog. Click through for more.