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Asia sinks on weak Chinese industrial data; Europe advances as sovereign debt talks continue; U.S. futures signal higher opening on Fed and ECB policy.
International
Asia
● Asian stock indexes slipped today due to the 5.4 percent drop in China's industrial sector in July that overwhelmed optimism of stimulus.
● Nikkei advanced 0.16 percent; Hang Seng dropped 0.41 percent; Shanghai Composite tumbled 1.74 percent; KOSPI slipped 0.1 percent; S&P/ASX 200 eased 0.12 percent.
Europe
● European stock indexes mostly rose today as the discussion about the sovereign-debt crisis continues with Germany and France. Today was a lighter trading day, as U.K. markets were closed for a public holiday.
Domestic
● U.S. stock futures indicated a higher opening as investors wait for messages from Fed Chairman Bernanke and ECB Chief Mario Draghi on further policy measures.
● Apple is set to increase after winning a patent case against Samsung.
Commodities
All commodities news is as of 7:40 a.m. ET.
Gold Falls and Silver Advances
● Gold slipped 0.02 percent, or $0.27, to $1670.28. Expect drops in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
● Silver increased 0.20 percent, or $0.06, to $30.84. Expect growth in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Rose
● The October contract for WTI crude oil advanced 0.89 percent, or $0.86, to $97.01 per barrel.
● The October contract for Brent crude oil increased 0.55 percent, or $0.63, to $114.23 per barrel.
● Expect growth in both the United States Oil Fund (NYSEArca: USO) and in the United States Brent Oil Fund (NYSEArca: BNO).
Fund Flows
On Friday, Aug. 24, 2012, the top ETF in nominal inflows was the iShares Barclays Short Treasury Bond (NYSEArca: SHV), with creations of $198.36 million. The top ETF in nominal outflows was the PowerShares QQQ (NasdaqGM: QQQ), with redemptions of $341.30 million.
ETF Launches
None as of yet today
ETF Filings
None as of yet today
Economic Calendar
Domestic
● Dallas Fed Mfg Survey - 10:30 a.m. ET
Europe
● Germany
○ Ifo Survey - 4:00 a.m. ET
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