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Asia sinks on lost hopes for U.S. stimulus; Europe falls as Greece bailout talks progress; U.S. futures signal flat opening on lower probability for Fed stimulus.
International
Asia
● Asian stock indexes slumped today after hopes for U.S. stimulus faded, in addition to poor economic growth from the U.S. and China due to stalls in European debt crisis talks.
● The Nikkei slipped 1.17 percent; Shanghai Composite fell 0.99 percent; Hang Seng soared 1.23 percent; S&P/ASX 200 dropped 0.79 percent; KOSPI sank 1.17 percent.
Europe
● European stock indexes slipped as talks continued regarding second Greece’s bailout.
● Second-quarter GDP of the U.K. fell 0.5 percent or lower than the 0.7 percent expected.
Domestic
● U.S. stock futures indicated a flat opening, as investors lose hope in a Fed stimulus.
● Durable goods orders are expected to rise 2.5 percent due to an increased demand for aircraft.
Commodities
All commodities news is as of 7:35 a.m. ET.
Gold and Silver Augmented
● Gold rose 0.38 percent, or $6.35, to $1664.25. Expect modest increases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
● Silver advanced 0.99 percent, or $0.30, to $30.28. Look for large increases in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Strengthen
● The October contract for WTI crude oil elevated 0.48 percent, or $0.46, to $95.81 per barrel.
● The October contract for Brent crude oil rose 0.50 percent, or $0.57, to $114.44 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
● Durable Goods Orders - 8:30 a.m. ET
Europe
● U.K.
○ GDP - 4:30 a.m. ET
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