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Asia mixed on Chinese stimulus possibility; Europe mixed on weak Chinese FDI data; U.S. futures signal higher opening on hopes of further Chinese stimulus.
International
Asia
● Asian stock indexes were mixed following a statement by Wen Jiabao, the Chinese premier, that lower inflation had given policymakers more space to loosen monetary policy because, at the same time, strong U.S. news weakened hopes of further federal stimulus.
● The Nikkei soared 1.88 percent; Shanghai Composite slipped 0.32 percent; Hang Seng eased 0.45 percent; S&P/ASX 200 boosted 1.14 percent; KOSPI advanced a mere 0.05 percent.
Europe
● European stock indexes were mixed after FDI flows in China fell to a two-year low, but losses were limited by promises of further monetary stimulus in China. Check for movements in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
Domestic
● U.S. stock futures indicated slightly higher opening on hopes for further Chinese stimulus, but movements were limited as analysts predicted house construction remained at a four-year high.
Earnings
Walmart
● 2nd-Quarter Earnings
● Estimated EPS = $1.17; Actual EPS = $1.18
● ETF Movements
○ Market Vectors Retail ETF (NYSEArca: RTH)
○ Consumer Staples Select Sector SPDR (NYSEArca: XLP)
Commodities
All commodities news is as of 7:20 a.m. ET.
Gold and Silver Rose
● Gold advanced 0.07 percent, or $1.20, to $1604.30. Expect slight increases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
● Silver increased 0.14 percent, or $0.04, to $27.87. Look for boosts in the iShares Silver Trust (NYSEArca: SLV).
WTI Eased and Brent Oil Advanced
● The September contract for WTI crude oil fell 0.01 percent, or $0.01, to $94.32 per barrel.
● The September contract for Brent crude oil rose 0.03 percent, or $0.03, to $116.28 per barrel.
● Expect decreases in the United States Oil Fund (NYSEArca: USO) and increases 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
● Housing Starts - 8:30 a.m. ET
● Jobless Claims - 8:30 a.m. ET
● Bloomberg Consumer Comfort Index - 9:45 a.m. ET
● Philadelphia Fed Survey - 10:00 a.m. ET
● E-Commerce Retail Sales - 10:00 a.m. ET
● Fed Balance Sheet - 4:30 p.m. ET
● Money Supply - 4:30 p.m. ET
Americas
● Canada
○ Manufacturing Sales - 8:30 a.m. ET
Europe
● U.K.
○ Retail Sales - 4:30 a.m. ET
● EMU
○ HICP - 5:00 a.m. ET
Asia/Pacific
● New Zealand
○ Producer Price Index - 6:45 p.m. ET |
