The View:

Investors still remain jittery and uncommitted to any rally
in global markets.

Asia Markets:

Asian markets ended sharply lower in Tuesday trading
sessions. Continued investors nervous about the Euro-zone debt crisis,
weakening economic numbers from China, and IBM ‘s earning report caused the
markets to tumble. The Nikkei lost 1.6%, Hang Seng tumbled 4.2% and Shanghai
fell 2.3%.

Already jittery investors got several new reasons to become even more cautious of the markets.  First, the same comments that rocked both the European and US markets took it toll on
Asia Tuesday.  Comments on Monday from Merkel calling the idea of a comprehensive bailout plan a”Dream” dashed the euphoria investors were feeling toward the subject. The second, economic data
out of China showed GDP grew at a rate of 9.1%, which for most of the global
would have made us dance however, in China it was below expectations and
substantially lower than the 9.5% gained in the second quarter.  This growth however was still strong enough to potential  dampened  any hopes that China would begin to loosen it’s
monetary policy.

European Markets:

European shares declined in their Monday session after
comments from euro-zone officials put a damper on investor’s high hopes of a
speedy yet comprehensive bailout plan. Early gains were erased after German
Finance Minister Wolfgage Schaeuble commented the upcoming European Union
summit may not bring a solution to the euro-zone debt crisis. German Chancellor
Angela Merkel agreed calling the resolving of all the problems at the EU
summit was a dream.  Harsh words after
the G-20 finance ministers of the weekend tried to reassure nervous investors
by calling for a complete plan that will help tackle the European debt crisis
be announced at the European  Union summit next week.  Except for a bit of
reassure to investors the G20 meeting failed to yield any significant progress
toward the Eurozone debt crisis. Also adding to fears of a stalling global economic
picture, data released this morning from the US showing a significant drop in

European stocks were bumpy in their early Tuesday trading. Causing
the decline China’s disappointing GDP numbers, UK reported inflation, and rumor of a potential downgrade of France’s covited triple AAA rating.

US Markets:

US Markets declined on Monday for their worst session in two
weeks, as the fuel that has fired the rally over the last two weeks is starting
to run out. The Dow plumpted 247.49 points, the S&P fell 23.72 points and
the Nadsaq lost 52.93 points.  The Dow and Nasdaq are now both  down 1% year to
date. The S&P is down 4.5% for the year.

The markets were in the red from the start with bleaker
economic reports caused investors to again feel jittery about the US economic picture.
The Empire State index, a gauge of the  manufacturing sector,  printed -8.5. The number was  down for a fifth month in a row in October after a slight improvement from September.
The industrial production also reported this morning, rose 0.2% in
September on increase demand for cars and computers. Both reports show a
continued slowing of the US economy.

Also weighing on investors minds the second bank after JP
Morgan Chase, Wells Fargo, reported lack luster earnings.  Wells reported, for the first time in two
years, disappointing Q3 quarterly results. Analyst and investors were caught
off guard as Wells was considered one of the least vulnerable banks to the
recession because of it’s low cost deposits and steady lending.

Treasury’s continued to be the beneficiary of global nervous
investors closing Monday at 2.159%.

As investors flocked to Treseary’s the moved away from Gold.

Food commodities such as Corn, Soybeans, Wheat were all down
as investors remain pessimistic about global demand.