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Geopolitical tensions in Egypt and the risk of destabilization in the Middle East are expected to weigh on U.S. stock markets this week and encourage investors to be cautious, especially since recent results have not led to optimism.

Egypt since Tuesday is the scene of violent demonstrations to demand the departure of President Hosni Mubarak and the uncertainties they cause have affected the trend Friday resulting in a 24% increase in the VIX volatility index, known as the index of fear.Ever since last May, this index had increased as much in one day.

Central concern of traders, is the fear that this movement to be spreading to other countries in the Middle East where are the biggest oil exporters in the world.On Friday, crude prices had closed up more than 4%.

"As long as there are uncertainties related to these disorders, the markets will suffer and the situation will not improve overnight," said David Kelly, JPMorgan Funds in New York.

These elements could even be used to trigger a movement correction, he says.

On Friday, the Dow Jones, who showed up there for eight consecutive weeks of gains, ended the week on a decline.

CONSOLIDATION

One could attend Monday to a recovery quickly followed by a consolidation trend.

"The recommendation I make to my clients is that they have positions beneficiaries, especially on second-rate securities that have taken advantage of the QE2 (the second round of quantitative easing by the Fed) it is time to take profits and look at the big industrial stocks, those that have not progressed much, "said Matt McCormick, portfolio manager at Bahl & Gaynor.

According to Craig Peskin, Chartist MF Global, investors will closely monitor two technical levels on the S & P 500, 1271 and 1263.

The increases in recent weeks have much optimism about the results for the last three months of 2010.But the disappointing figures reported Friday by Ford and Amazon.com have tempered the enthusiasm.

Overall, the quarterly published are above expectations, but analysts have no certainty about the sustainability of the trend. For now, 71% of companies in the S & P 500 that have shared their results beat the consensus.

Next week, 102 of them will go on the grill, including Dow Chemical and United Parcel Service.

In addition to the expected results, attention will focus on employment figures, the Achilles heel of the U.S. economy. While the unemployment rate fell in December to 9.4% against 9.8% a month earlier, but most economists, progress on the employment front will be slow.

The first two Japanese steelmakers Nippon Steel and JFE Holdings, have lowered their profit forecasts Friday, soaring commodity prices are bound to weigh on profitability.

Both groups have sought to raise their prices enough to cope with surging prices of production factors that have significantly increased during the month of December in the wake of massive floods that have hit coal mines in Australia.

The strong yen has also affected the competitiveness of their exports, while benefiting their Asian competitors like Korean or Chinese POSCO Baosteel.

"Floods in Australia have temporarily driven up prices of iron ore and coking coal, which is difficult to integrate into the product price," said Tomomichi Akuta, chief economist at Mitsubishi UFJ Research and Consulting.

"Export growth is affected by the continued appreciation of the yen, while export prices are limited by the intensification of global competition."

After the floods, steel producers have bought more and more coal to the United States or other countries.But Australia, which currently covers 60% of coking coal, is likely to continue a major exporter of coal.

Nippon Steel said it had made sufficient coal reserves to be able to maintain production at least until March, but warned that a halt in production was possible from April in case of shortage, while eclipsing the positive impact of higher steel prices in the current quarter.

"Prices are on the upside, but this did not see in our results from January to March.We will take advantage and we will increase our margins from April, "said Executive Chairman life Shinichi Taniguchi Nippon Steel.

RESULTS BELOW EXPECTATIONS

Nippon Steel, which provides among other Toyota and Panasonic, said now provide a current profit of 220 billion yen (1.9 billion euros) for the year ended 31 March, below its initial estimates.

The new group's forecasts miss the Thomson Reuters consensus I / B / E / S, which called for 252.4 billion yen.

JFE has lowered its profit forecast for the year from 23% to 170 billion yen, well below analysts' forecast of 224 billion yen.

In the quarter October to December, Nippon Steel posted a 24% increase from current income to 53.5 billion yen.

JFE posted a quarterly profit down 31% to 36.5 billion yen.

Titles Nippon Steel and JFE have lost 2% and 3.26% at the Tokyo Stock Exchange after publication of these results.

French consumer confidence deteriorated slightly in January, shows the monthly business survey published Thursday by the INSEE.

The National Institute of Statistics introduced the survey a new synthetic indicator of "consumer confidence" calculated using a method similar to that used to process survey of business leaders.

This indicator is standardized, with an average of 100 and a standard deviation of 10 over the period 1987-2010.

The new synthetic indicator dropped one point to 85 against 86 (reconstituted) in December.

Based on the old method, fourteen economists surveyed by Reuters on average had forecast a slight improvement with a figure of -35 -36 cons originally announced for December.

Since the beginning of January, the opinion of households on their personal financial situation, past and future deteriorated slightly, the corresponding balances losing one and two points, Insee said in a statement.

"Households are also slightly fewer than in December to consider it advisable to make major purchases (-2 points)," he adds.

The opinion of the French on their ability to save current remains above its long-term average and that their ability to spare the next six months remains stable, a point below its historical average.

Households show alongside a little more pessimistic about their standard of living past and future balances, which fell respectively one and two points.

They are more numerous than the previous month to anticipate an increase in unemployment, the balance increased by two to 46 points, 13 points above its long-term average.

The survey was conducted among about 2,000 households between 3 and 18 January.

The two giant mortgage financing had been put under trusteeship by Washington in 2008 to avoid bankruptcy. Fannie Mae headquarters in Washington

The U.S. government does not publish on time statutory report on the future of Fannie Mae and Freddie Mac. "The administration will push slightly the report, presumably to the first half of February," said a government official to the press.

The law stipulated that the Treasury should send the report to Congress no later than January 31, but the official said, the government gave priority to his State of the Union, to be delivered by Barack Obama Tuesday, and the proposed budget 2011-2012, also due in February.

"Fannie" and "Freddie" have been placed under supervision by Washington in 2008 to prevent their bankruptcy.Since then, the Treasury has injected 152.8 billion dollars in capital. According to the American press, the report should not take a definitive position, but only move tracks between which the executive would leave it to parliament to decide.

The Treasury displays an even greater delay in the publication of an annual report on exchange rates of major trading partners of the United States, which was expected by Congress on Oct. 15 at the latest under the law.

The president on Monday presented his vows to the press and diplomatic corps. Guest star, the priorities of the G20, which France took the Chair. Announcements. Nicolas Sarkozy Monday presented 24 janvier2011 greetings to the press. Promise results

Nicolas Sarkozy said the French presidency of the G20 will have "results". "We will have results, we will fight for these results are possible but most importantly I look forward to seeing you in Cannes in November" when the summit will meet closing of the French presidency, "he said. France is approaching "the presidency with great humility and at the same time ambitions," he said. The French president, however, recognized that it was "impossible to say today what will happen," noting that France had "not completed the first month of (his) presidency."but acknowledged it was "impossible to say today what will happen." According to a BVA poll released this Monday, Sept. ten French people are skeptical about the success of the French presidency of the G20.

For a tax on financial transactions …

The Head of State has set some of the French priorities for the G8 and G20: aid to Africa and the taxation of financial flows. "A tax moral, useful to deter speculation, find resources for effective development," commented Nicolas Sarkozy. "I know that this tax has enemies, we will try to convince them." "Europe is twelve miles to Africa and its one million inhabitants. If Africa does not have access to energy, migration, people will stop them (…) France will can be hidden behind an imaginary border. "

…and a set of universal social protection

Nicolas Sarkozy said France wanted "the establishment of a basic universal social protection" internationally "." Not a single social model, he said, it makes no sense, but a base ". He also called for" giving more weight to the International Labour Organization in global governance. "" France does not resign himself to what the eight of the International Labor Organization on fundamental rights of work have not been ratified by all members of the G20, "said the head of state.

No questioning of the role of the dollar

France does not want to jeopardize the "leading role" of the dollar or creating a "capital controls" in the context of reforming the international monetary system, which has made a priority of its presidency of the G20.So said Nicolas Sarkozy, who does not wish to return to a system of fixed exchange rates. "The emergence of new economic powers will inevitably lead to the emergence of new international currencies," he said, arguing for greater "cooperation in the service of economic growth." "We will try to reach an agreement everyone on the indicators used to analyze the persistent imbalances", completed the President of the Republic.

A code of conduct for the management of capital flows

Nicolas Sarkozy announced the French presidency of the G20 would propose a "code of conduct in managing capital flows" international. "Eventually, he said, the conviction that France is a reform of the IMF is desirable for common rules that prevail."This is the International Monetary Fund "shall exercise supervision in this area," said Nicolas Sarkozy, explaining that this control is based on "standards" that define the imbalances between countries. Recognizing that the issue was "very difficult", the Head of State explained that the objective was to prevent countries emerging accumulate excessive foreign exchange reserves to protect against rough handling laundering.

Agriculture and commodity prices

"We need common rules on financial derivatives for agricultural products," said Nicolas Sarkozy. We must establish emergency funds for food. Aid organizations are forced to buy at the highest price. It makes no sense. This is unacceptable.We need to develop agricultural supply if we want to be able to feed the entire population. "Nicolas Sarkozy has shown serious on this subject:" Corn stocks are down 14% since last year . The sotcks are at their lowest since 1974. We were at 174 days of consumption before us. We fell to 54 days. Speculation feed shortage and the shortage feeds speculation.In these markets one can buy any quantity and sell it to anyone. "

Dominique Strauss-Kahn

Nicolas Sarkozy dodged the question about the future of DSK to head the IMF: "And if we sounded on ideas without extreme personalization? I'm French President, I inevitably a successor." He preferred to address the issue of changing status and role of the IMF, adding: "As the capabilities of the current director, I myself decided the issue, proposing his candidature."

World Savings used this year to reduce deficits. The investment will suffer.

The funds available for investment capital is scarce. First, because by the magnitude of deficits channeling a share of more and more of world savings. A shortfall terrible for business. And the bad news is that this situation will continue because the deficits are not ready to be reduced.

Secondly, because the share issues have become very weak in Europe and Japan. This phenomenon is explained by repeated crises on the equity markets and economic uncertainty after the crisis. And according to experts at Natixis, do not expect a turnaround in the coming months.

The problem is that if the supply of finance capital is low, its cost will remain persistently high.A situation that will penalize the employers who need to increase their capital, economists warning of the bank.

Result, as companies seek to pay off debt and their cash flow melting like snow in sunshine, we can expect a decline in investment. In France, the months ahead will be difficult. For the end of the related technical rebound upon discontinuation of destocking will coincide with the cessation of the stimulus and the input force of the austerity plan.

Several measures to support local investment, SMEs, assisted contracts or hiring apprentices live their last days. So, lacking a central engine, the Forecast Centre Expansion expects only 1.5% growth in France this year.

Unemployment insurance is expected to generate fiscal surpluses in 2013 and 2014, which would reduce its debt by 40% in three years, announced Thursday Unedic.

The managing agency had announced in mid-December anticipate a deficit of 1.8 billion euros for 2011 after the 3.0 billion expected for 2010.(See)

Projections for the period 2012-2014 submitted Thursday show that the deficit is expected to continue next year, reducing the negative balance of 0.2 billion euros in 2012, before returning to surplus in 2013 (+ 1.4 billion) and 2014 (3.2 billion).

"Net debt could be reduced to 6.7 billion euros at end 2014," adds Unedic in a statement.

The accumulated debt of unemployment insurance should reach 11 billion euros at the end of this year, based on an assumption of economic growth of 1.5%.

Staff morale is improving, according to Apec. Two out of three are optimistic about their professional future in the next 12 months.

Frameworks, especially if they are young, see their professional future in pink for the twelve months ahead, saying the economic situation improved slightly and that of their business significantly, according to a survey by the Association for employment frameworks (APEC). Nearly two out of three frames (64%) surveyed by Apec in December said they were very or somewhat optimistic about their professional future in the next twelve months, the highest rate since inception two years earlier of the biannual survey APEC, conducted among a representative sample of one thousand private sector executives.

Optimism is mostly set in less than 35 years, eight out of ten show a great confidence against less than one in two from 50.Suddenly, nearly half (46%) "expect positive changes in their career prospects within 12 months against quarter one year ago," according to Apec.

They are also more likely to expect an impact on wages (36% against 25% in 2009) but do not expect, however, improved working conditions: in this particular field, they are more s wait a negative development (31% against 28% building on the positive).

But if, for executives, the biggest of the crisis seems past, now is not the adventure of mobility: 46% expect to stay in the same company in the same position this year (up 5 points ) and 13% (unchanged) in the same company but on another post against 25% (- 2 points) thinking of a voluntary departure.

Only 5% believe they could lose their jobs when they were 9% a year earlier.

The former president fled amassed a huge fortune during his 23 years as head of the country. Extortion, racketeering, threats .. All means were good to scoop up key sectors of the economy.

France assured Monday that the Tunisian assets in French banks were under "particular vigilance", while admitting that it was legally impossible to freeze. The announcement could offend Ben Ali, who owns a building in the heart of Paris, estimated at 37 million euros under Europe 1. The government spokesman said Monday Baroin about it that France stood "at the disposal of the Tunisian Constitution" to examine the fate of properties in the former president of Tunisia. Ben Ali, who fled the country on Friday after a month of unprecedented challenges, also holds assets in several French banks.

However, the bulk of his fortune accumulated in 23 years of rule, estimated by Forbes at $ 5 billion, should be free. Last week, Ben Ali's family had in fact liquidated all his accounts, according to a Tunisian journalist interviewed by Europe 1. "They emptied the cash until the last minute, there is nothing left," says Slim Bagga. Especially, the former first lady of Tunisia Leila Ben Ali, had withdrawn 1,500 gold ingots from the Central Bank on 19 December last year, the equivalent of 45 million euros according to the World.

Ben Ali how he amassed such a fortune, he who possessed little or nothing before coming to power? It's simple, the government raided all sectors of the economy."All the private companies were victims of corruption Ben Ali said on BFM Antoine Sfeir, editor of Cahiers de l'Orient: he came home in a company, he asked to see the boss. He said, 'the notary you will call us now to 50/50 '. That's it, that was enough. " And all means were good to convince recalcitrant extortion, intimidation, threats …

Beyond the mere Ben Ali, is in fact the entire family of his second wife Leila Trabelsi, who saw his wealth booming from the mid 90's. Since she married her lover in 1992, Catherine de Medici, "hated the Tunisians, has continued to promote his own.

Banks, transportation, housing, food, hospitality, agriculture, retail, telecommunications, marine …"No one sector that escapes them, not a transaction with a foreign group of which they are stakeholders, not a nice ground, or almost, where they have views. And no one in the clan, is forgotten, "Nicolas Beau and Catherine tell Graciet in the book" The Regent of Carthage, Tunisia hands on. " From modest social origins, brothers, sisters, nephews and sons-Leila and quickly become owners of hotels, farms, banks and airlines. His brother Belhassen example, specializes in buying cheap land classified as historical and sold at exorbitant prices after being declared buildable. But Leila was the darling of his nephew Imed, who was killed Friday, the victim, according to Jeune Afrique, a settling of accounts from one of his former colleagues.Having made a fortune in real estate and retailing, particularly in association with the group Conforama, Imed Trabelsi was unsuccessfully sued in France for stealing the yacht Bruno Roger, one of the officers of the Bank Lazard and near former president Jacques Chirac.

Describe what the family circle of the president as a "quasi-mafia" by the U.S. Embassy. In telegrams confidential information obtained by Wikileaks, a diplomat cites more than a dozen examples of "scheming" to put to the account of "clan", now in exile in Saudi Arabia and housed in a sumptuous palace in Jeddah.

Former Tunisian president arrived in Saudi Arabia. In Tunis, the state of emergency was declared by the new interim president, Mohammed Ghannouchi. Several neighborhoods on the outskirts of the capital experienced a night of anguish because of destruction and looting.

Tunis woke up Saturday, January 15 under tension and uncertainty, after a night of looting and the sudden departure of Saudi Arabia President Zine El Abidine Ben Ali ousted under pressure from the street after a month of riots quelled. The Acting President Mohammed Ghannouchi said the night on public channel Tunis7 it was "absolute priority" restoring public order.

Saturday morning, police began to complete the heart of the capital to prevent any gatherings, a state of emergency was declared yesterday.Metal barriers were erected, blocking the streets leading to the Avenue Bourguiba, the main artery of the center Tunis.Avant implementation of this device, few vehicles and pedestrians were visible. Only a few passengers left their hotels, dragging their luggage. The first signs of life occurred after 7:00 am (0600 GMT) with the lifting of the curfew at night, but the cafes and shops did not open.

French retailers stores looted

Several neighborhoods in the suburbs have experienced a night of anguish because of destruction and looting carried out by gangs of hooded people, according to the testimony of frightened people, relayed by local television stations. At the exit north of Tunis, the hypermarket Giant looting was underway Saturday after being attacked on Friday, found a photographer for AFP.Dozens of people were leaving the mall carrying whatever they could lay hands on, in the absence of any representative of law enforcement. A position close to the National Guard had been deserted.

Several French retailers Carrefour stores and Casino which are close associates of power in Tunisia, have been looted in recent days. Appeals were launched in the army that protects part of the state of emergency public buildings, to intervene against these bands. The army was flying over the city by helicopter, while speculation was rife about the identity of those responsible for looting.Some residents spoke of militiamen linked to the president's flight, others spoke of the common law prisoners escaped from detention, accusing certain elements of the police.

Paris is "the act of constitutional transition"

The acting president, interviewed by Al Jazeera in Qatar on the identity of the vandals who have also occurred in several towns, said that "everything is possible." After 23 years of unchallenged rule, President Zine El Abidine Ben Ali has fled his country Friday to become the first leader of an Arab country to leave office under pressure from the street. Despite some signs of openness on his part, the demonstrators demanded his immediate departure always, does not meet its promises to relinquish power after his term in 2014.

Ben Ali came into the night in Jeddah in Saudi Arabia with his family.He had to leave Tunis after a month of a popular protest, called by the Tunisian "Jasmine Revolution" which was harshly suppressed: at least 66 people were killed, said Thursday the International Federation of Leagues human rights, but since then new casualties were reported. Initially the Head of State, the incumbent Prime Minister, Mohammed Ghannouchi, announced on television that he assured the acting president until further order under a decree signed by Mr Ben Ali.

Two opposition leaders – Mustapha Ben Jaafar, head of the Democratic Forum for Labour and Liberties (FDTL, legal), and Najib Chebbi, historic leader of the Democratic Progressive Party (DPP, legal) – said they were willing to work with Ghannouchi. Paris took "note of the constitutional transition" in Tunisia.President Barack Obama praised the "courage and dignity" of the Tunisian people and called, like London, the elections "free and fair" in "near future", while the European Union spoke for a democratic solution "sustainable". The Secretary-General Ban Ki-moon has called for a "democratic settlement" and "peaceful" to the crisis.