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Global markets rise on hopes of European central bank and Federal Reserve stimulus plans.
International
Asia
● Asian stock indexes advanced today as investors hoped for stimulus measures when the Fed and the ECB meet for policy meetings this week.
● The Nikkei rose 0.69 percent; the KOSPI climbed 2.07 percent; the Shanghai Composite fell 0.3 percent; the Hang Seng advanced 1.08 percent; and Australia’s S&P/ASX 200 increased 0.55 percent.
● Chinese officials have said they are committed to improving growth in the second half of the year.
Europe
● European equity indexes climbed today even as stocks fell on weaker-than-expected earnings reports and no action yet from central banks regarding any new stimulus programs. Expect changes in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
● Unemployment in the euro area grew to about 11.2 percent in June, which was above the 11.1 percent in May. Analysts attribute the increase to the debt crisis and weaker demand for goods causing companies to hire fewer workers.
Domestic
● U.S. stock futures advanced as investors speculated the Fed would hint at strong stimulus action as it meets today and tomorrow.
Earnings
Pfizer
● 2nd Quarter Earnings - 10 a.m.
● Expected EPS = $0.55
● ETF Movements
Health Care Select Sector SPDR Fund (NYSEArca: XLV)
iShares Dow Jones U.S. Health Care Index Fund (NYSEArca: IYH)
Commodities
All commodities news is as of 7:00 a.m. ET.
Gold and Silver Rose
● Gold edged up 0.12 percent, or $1.93, to $1,624 a troy ounce. Expect increases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
● Silver ascended 0.14 percent, or $0.04, to $28.23. Expect slight improvements in the iShares Silver Trust (NYSEArca: SLV).
WTI Strengthens and Brent Oil Weakens
● The September contract for WTI crude oil gained 0.19 percent, or $0.17, to $89.95 per barrel.
● The September contract for Brent crude oil shed 0.10 percent, or $0.11, to $106.09 per barrel.
● Expect increases in the United States Oil Fund (NYSEArca: USO) and decreases in the United States Brent Oil Fund (NYSEArca: BNO).
Fund Flows
Data not yet available
ETF Launches
None scheduled for today
ETF Filings
None as of yet today
Economic Calendar
Domestic
● FOMC Meeting Begins - TBD
● ICSC-Goldman Store Sales - 7:45 a.m. ET
● Personal Income and Outlays - 8:30 a.m. ET
● Employment Cost Index - 8:30 a.m. ET
● Redbook - 8:55 a.m. ET
● S&P Case-Shiller HPI - 9:00 a.m. ET
● Chicago PMI - 9:45 a.m. ET
● Consumer Confidence - 10:00 a.m. ET
● State Street Investor Confidence Index - 10:00 a.m. ET
● Farm Prices - 3:00 p.m. ET
Americas
● Canada
IPPI - 8:30 a.m. ET
Monthly GDP - 8:30 a.m. ET
Europe
● Germany
Retail Sales - 2:00 a.m. ET
Unemployment Rate - 3:55 a.m. ET
● Switzerland
UBS Consumption Index - 2:00 a.m. ET
● France
Consumer Mfgd Goods Consumption - 2:45 a.m. ET
PPI - 2:45 a.m. ET
● Italy
CPI - 5:00 a.m. ET
PPI - 6:00 a.m. ET
● EMU
HICP Flash - 5:00 a.m. ET
Unemployment Rate - 5:00 a.m. ET
Asia/Pacific
● China
CFLP Manufacturing PMI - 9:00 p.m. ET
PMI Manufacturing Index - 10:30 p.m. ET
● Australia
○ Housing Price Index - 9:30 p.m. ET |
