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Asia, Europe and U.S. stocks decline on disappointing Chinese trade data.
International
Asia
● Asian stock indexes reversed their four-day rally and fell after paltry Chinese export and import data in July were reported. Chinese exports grew 1 percent compared with an 8.6 percent expectation, and imports grew 4.7 percent compared with a 7.2 percent expectation. Check for activity in the iShares FTSE/Xinhua China 25 Index Fund (NYSEArca: FXI).
● The Nikkei abated 0.97 percent; KOSPI advanced 0.3 percent; Shanghai Composite eased 0.24 percent; Hang Seng slipped 0.66 percent; S&P/ASX 200 dropped 0.72 percent.
Europe
● European stock indexes declined as weak Chinese exports and imports data contributed to global growth fears. Expect this news to affect the Vanguard MSCI Europe ETF (NYSEArca: VGK).
Domestic
● U.S. stock futures slipped as anemic Chinese trade data contributed to further evidence to faltering global growth.
Earnings
JC Penney
● 2nd Quarter - 8:00 a.m. ET
● Expected EPS = -$0.24
● ETF Movements
○ Not majorly held in any ETF.
Commodities
All commodities news is as of 7:10 a.m. ET.
Gold and Silver Declined
● Gold dropped 0.48 percent, or $7.80, to $1609.45. Expect decreases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
● Silver eased 0.92 percent, or $0.26, to $27.88. Expect falls in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Sank
● The September contract for WTI crude oil fell 1.19 percent, or $1.11, to $92.25 per barrel.
● The September contract for Brent crude oil dropped 1.20 percent, or $1.36, to $111.86 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
None as of yet today
ETF Launches
None as of yet today
ETF Filings
None as of yet today
Economic Calendar
Domestic
● Import and Export Prices - 8:30 a.m. ET
● Treasury Budget - 2:00 p.m. ET
Americas
● Canada
○ Labour Force Survey - 8:30 a.m. ET
Europe
● Germany
○ CPI - 2:00 a.m. ET
● France
○ Industrial Production - 2:45 a.m. ET
● Italy
○ CPI - 4:00 a.m. ET
● U.K.
○ Producer Price Index - 4:30 a.m. ET |
