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Asia, Europe and U.S. stock futures drop on renewed concerns over global economic growth following disappointing Japanese retail and German unemployment data.
International
Asia
- Asian stock indexes slipped today as lackluster Japanese retail sales and South Korean confidence data increased fears of a global economic slowdown, while investors are more doubtful of the Fed enacting stimulus.
- The Nikkei dropped 0.95 percent; KOSPI retreated 0.2 percent; Shanghai Composite eased 0.03 percent; Hang Seng slumped 1.19 percent; S&P/ASX 200 sank 0.94 percent.
- Japanese retail sales slid 0.8 percent, more than the 0.2 percent slide estimated by economists, due to weaker exports and a wearing off of stimulus-driven consumption. Most of the reduction in retail sales was due to slowing private consumption.
Europe
- European stock indexes slid as investors realize renewed global growth fears after the release of weak economic data from Germany, Japan and South Korea. Check for movements in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
- The number of unemployed people in Germany increased by 9,000, more than the expected 7,000, as the raging European debt crisis continues to weaken demand for German goods. Expect this news to affect the iShares MSCI Germany Index Fund (NYSEArca: EWG).
Domestic
- U.S. stock futures sank, as poor data from Japan, South Korea and Germany caused investors to worry that global growth is slowing.
Commodities
All commodities news is as of 7:15 a.m. ET.
Gold Advanced and Silver Slipped
- Gold advanced 0.02 percent, or $0.30, to $1,656.80. Expect slight advances in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
- Silver dropped 0.15 percent, or $0.05, to $30.70. Expect small decreases in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Sink
- The October contract for WTI crude oil declined 0.17 percent, or $0.16, to $95.33 per barrel.
- The October contract for Brent crude oil fell 0.59 percent, or $0.66, to $113.20 per barrel.
- Expect contraction in both the United States Oil Fund (NYSEArca: USO) and 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
- Chain Store Sales - TBD
- Jobless Claims - 8:30 a.m. ET
- Personal Income and Outlays - 8:30 a.m. ET
- Bloomberg Consumer Comfort Index - 9:45 a.m. ET
- Kansas City Fed Manufacturing Index - 11:00 a.m. ET
- Fed Balance Sheet - 4:30 p.m. ET
- Money Supply - 4:30 p.m. ET
Europe
◦ Unemployment Rate - 3:55 a.m. ET
◦ M4 Money Supply - 4:30 a.m. ET
◦ EC Economic Sentiment - 5:00 a.m. ET
◦ ISAE Manufacturing and mining survey - 5:00 a.m. ET
Asia/Pacific
◦ CPI - 7:30 p.m. ET
◦ Household Spending - 7:30 p.m. ET
◦ Unemployment Rate - 7:30 p.m. ET
◦ Industrial Production - 7:50 p.m. ET |
