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Asia advances on strong U.S. jobs data; Europe rises on Greece’s focus on economic growth policy; U.S. futures signal higher opening on global investor optimism on strong jobs data.
International
Asia
● Asian stock indexes mostly soared today on strong U.S. jobs data released on Friday.
● The Nikkei rose 2 percent; KOSPI rose 2.01 percent; Shanghai Composite gained 1.04 percent; Hang Seng rose 1.69 percent; S&P/ASX 200 advanced 1.21 percent.
Europe
● European stock indexes advanced today as Greece and its creditors recognized the need to pass policy that focuses on economic growth. Look for changes in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
Domestic
● U.S. stock futures will receive an added boost from Friday’s data as investors respond to the increase in global stocks due to the strong data.
Earnings
No major earnings reports
Commodities
All commodities news is as of 7:10 a.m. ET.
Gold Rose and Silver Slipped
● Gold advanced 0.30 percent, or $4.82, to $1608.30. Expect increases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
● Silver fell 0.22 percent, or $0.06, to $27.74. Expect reduction in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Eased
● The September contract for WTI crude oil dropped 0.40 percent, or $0.37, to $91.03 per barrel.
● The September contract for Brent crude oil ebbed 0.61 percent, or $0.66, to $108.28 per barrel.
● Expect contraction in both the United States Oil Fund (NYSEArca: USO) and in the United States Brent Oil Fund (NYSEArca: BNO).
Fund Flows
On Friday, August 3, 2012, the top ETF in nominal inflows was the iShares Russell 2000 (NYSEArca: IWM), with creations of $1.05 billion. The top ETF in nominal outflows was the SPDR S&P 500 (NYSEArca: SPY), with redemptions of $2.53 billion.
ETF Launches
None as of yet today
ETF Filings
None as of yet today
Economic Calendar
Domestic
● Ben Bernanke Speaks - 9:00 a.m. ET
Europe
● U.K.
○ Halifax HPI - 3:00 a.m. ET
Asia/Pacific
● New Zealand
○ Labour cost index - 6:45 p.m. ET
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