Jittery investors continue to adjust to the uncertainties of military actions and stark warnings of terrorist reprisals. Adding to investors' problems is the lag factor in most economic releases, especially in Europe and Japan, which makes data old news and subject to cautious interpretation. This is especially true for September data releases. Reports will have to be read cautiously with readers paying close attention to when the data were collected and the degree of reaction to the events of September 11th. If that were not enough, earnings reports for the just ended third quarter are upon us. It appears that thus far, investors have already digested the coming bad news and are looking forward to a turn in the medium term and are adjusting their portfolios accordingly.

Introduction   •   Global Stock Market Indexes   •   Recap of Global Markets   •   Currencies   •  Indicator Scoreboard

The Bottom Line   •   Looking Ahead