This news had managed to bolster financial markets helping them to retrieve a small portion of their extended losses.

The good continued last night, General Electric and Bank of America came out to say that even with them losing their credit rating won’t be an obstacle preventing them from sensing some profits this year.

After those statements energy in financial markets was restored, where the US stocks rose sharply, with Dow Jones Industrial Average added 3.46% closing at 7170.06 levels, the financial index S&P 500 rose 4.07% closing at 750.74 levels and finally the third index NASDAQ added 3.96% closing at 1426.10 levels.

Asian indices traced this movement earlier today, obtaining their confidence from yesterday’s goods along with the rising confidence in Japan, which was seen today; alongside with the increasing projections that china and Japan are preparing another fiscal stimulus in order to bolster their economies.

The Japanese Consumer Confidence inclined in the past two months after they have witnessed a sharp fall in prices, giving them some slake with all this squeeze in markets. Citizens are happy about those prices as they can afford them at the time their jobs are threatened by terminations. On the contrary, policy makers are concerned that those prices will push the economy in their worst demon, which is Deflation!

The falling crude and gasoline prices along with the weakening levels of demand are behind the fall consumer prices and the deteriorating growth levels that contracted 12.1% in the fourth quarter to the lowest since 1974!

After the good news, Nikkei Index added 5.15% or 371.03 points closing at 7569.28 levels; also, the Australian S&P/ASX 200 added 3.39% or 109.70 points to close at 3345.20 levels and the third major Asian index Hang Seng had added 3.52% reaching to 12419.66 levels.

Yet even with those better than expected news, investors remain hesitant ready to lose their confidence any minute if any worse than expected reading comes out. What is destroying financial market is the long lost confidence, which plays a major role in defining the movement of indices that day. Policy makers have tried more than once to prop up the deteriorating confidence just to spread back some tranquility but all the attempts taken had stamped with a total failure.

Now dear reader lets get back to the fundamentals our calendar holds for today, the start will be with the Euro area Retail Sales, according to market projections the retail sales reading inclined in January 0.2% coming slightly better than the previous flat reading seen in December, while the yearly reading contracted 2.3% in January from the previous -1.6%.

Sales in the euro area have tumbled badly after the zone faced their first recession since the euro was established, contracting for three consecutive quarters which obliged the ECB chairman to consider vast rate reductions in an attempt to snatch his economy out of deeper contractions.

Then we will fly back to the North American continent, starting with the Canadian Unemployment rates escalating higher in February to 7.4% from the previous 7.2%. The job termination was not restricted on the world’s economy, where it managed to diffuse slowly to take control on other economies in the world.

Nevertheless, we will seal this week dear reader with the US trade balance and the University of Michigan reading with expectations that the balance of trade deficit narrowed down to 38.0 billion from the previous deficit 39.9 billion. Imports and the domestic demand weakened heavily as citizens’ fear to spend their money after they saw the huge number of job terminations taking place from the start of the prior year.

While the University of Michigan Confidence retreated in March to 55.0 levels from the previous 56.3 as the prolonged Credit Crisis continued to hammer the world leading economy growth snatching away all the left confidence.

Therefore lets just see what would today’s fundamentals clear to us and whether we will be ending this week with optimism in financial markets or not…