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Asia and Europe stock rises on weak Chinese data; U.S. stock futures unchanged on lower-than-expected Chinese data and a predicted increase in jobless claims.
International
Asia
● Asian stock indexes rose four days in a row after lower-than-expected Chinese economic data coupled with weak inflation caused speculation that China will enact further growth stimulus.
● The Nikkei escalated 1.1 percent; KOSPI soared 1.96 percent; Shanghai Composite advanced 0.61 percent; Hang Seng grew 1.02 percent; S&P/ASX 200 eased 0.1 percent.
● Chinese industrial growth and retail data has missed estimates, causing investors to speculate that the government would enact further stimulus. Annual industrial growth was 9.2 percent, less than the 9.8 percent predicted by analysts. Retail sales rose 13.1 percent in July, less than the expected 13.7 percent.
Europe
● European stocks rose, even though European stock indexes dropped as Chinese inflation data was lower than expected, as investors speculate China will have more room for stimulus measures. Look for movements in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
● The euro fell to $1.2314 after the ECB predicted further recession this year. Check for activity in the CurrencyShares Euro Trust (NYSEArca: FXE).
Domestic
● U.S. stock futures hardly moved, after weak Chinese data causing investors to speculate about further stimulus was counteracted with an increase in jobless claims, causing investors to believe that U.S. economic growth is weak.
Earnings
No major earnings report today.
Commodities
All commodities news is as of 7:15 a.m. ET.
Gold Advanced and Silver Fell
● Gold gained 0.05 percent, or $0.88, to $1613. Expect increases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
● Silver dropped 0.14 percent, or $0.04, to $28.01. Expect slips in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Augmented
● The September contract for WTI crude oil increased 0.15 percent, or $0.14, to $93.49 per barrel.
● The September contract for Brent crude oil augmented 0.10 percent, or $0.11, to $112.25 per barrel.
● Expect expansion in both the United States Oil Fund (NYSEArca: USO) and in the United States Brent Oil Fund (NYSEArca: BNO).
Fund Flows
None as of yet today
ETF Launches
None as of yet today
ETF Filings
None as of yet today
Economic Calendar
Domestic
● International Trade - 8:30 a.m. ET
● Jobless Claims - 8:30 a.m. ET
● Bloomberg Consumer Comfort Index - 9:45 a.m. ET
● Wholesale Trade - 10:00 a.m. ET
● Fed Balance Sheet - 4:30 p.m. ET
● Money Supply - 4:30 p.m. ET
Americas
● Canada
○ Housing Starts - 8:15 a.m. ET
○ Merchandise Trade - 8:30 a.m. ET
Europe
● Italy
○ Merchandise Trade - 4:00 a.m. ET
● U.K.
○ Merchandise Trade - 4:30 a.m. ET
Asia/Pacific
● China
○ Industrial Production - TBA
○ Merchandise Trade Balance - TBA
○ Retail Sales - TBA
● Japan
○ CGPI (PPI) - 7:50 p.m. ET |
