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Asia and Europe stocks increase on stimulus speculation; U.S. points to lower opening on worry about weak jobs market.
International
Asia
● Asian stock indexes climbed again today as financial firms rose and investors speculated that the ECB and Fed would commit to more stimulus measures.
● The Nikkei rose 0.8 percent; the KOSPI increased 0.8 percent; the Shanghai Composite shed 0.89 percent; the Hang Seng surged 1.61 percent; and Australia’s S&P/ASX 200 grew 0.85 percent.
Europe
● European stock indexes rose today again as investors speculated that policymakers would take more action to address the euro-area debt crisis. Expect activity in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
● Economic confidence in the euro area fell to 87.9 from 89.9 in June. The final level in July was less than the 88.9 forecast, and the drop is most likely a symptom from the euro-area debt crisis.
Domestic
● U.S. stock futures dropped amid investor views that the jobless rate remains above 8 percent level, and on a decline in July consumer confidence.
Earnings
No major earnings today.
Commodities
All commodities news is as of 7:15 a.m. ET.
Gold and Silver Slipped
● Gold descended 0.27 percent, or $4.38, to $1618.55. Expect decreases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
● Silver eased 0.29 percent, or $0.08, to $27.66. Expect small drops in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Fell
● The September contract for WTI crude oil shed 0.02 percent, or $0.02, to $90.11 per barrel.
● The September contract for Brent crude oil dropped 0.45 percent, or $0.48, to $105.99 per barrel.
● Expect easing in both the United States Oil Fund (NYSEArca: USO) and in the United States Brent Oil Fund (NYSEArca: BNO).
Fund Flows
On Friday, July 27, 2012, the top ETF in nominal inflows was the SPDR S&P 500 ETF (NYSEArca: SPY), with creations of $1.05 billion. The top ETF in nominal outflows was the SPDR Gold Shares (NYSEArca: GLD), with redemptions of $204.1 million.
ETF Launches
None scheduled today
ETF Filings
None as of yet today
Economic Calendar
Domestic
● Dallas Fed Mfg Survey - 10:30 a.m. ET
Europe
● UK
M4 Money Supply - 4:30 a.m. ET
CBI Distributive Trades - 6:00 a.m. ET
● EMU
EC Economic Sentiment - 5:00 a.m. ET
Asia/Pacific
● Japan
Household Spending - 7:30 p.m. ET
Unemployment Rate - 7:30 p.m. ET
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