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Asia falls on weak Japanese and South Korean industrial reports; Europe and U.S. advance on hopes for Fed stimulus.
International
Asia
- Asian stock indexes slid after weak Japanese and South Korean industrial reports and while investors are cautiously watching Ben Bernanke's language toward stimulus.
- The Nikkei slid 1.6 percent; KOSPI slumped 1.43 percent; Shanghai Composite eased 0.25 percent; Hang Seng dropped 0.36 percent; S&P/ASX 200 advanced 0.01 percent.
- Japanese industrial output in July unexpectedly fell 1.2 percent, or did worse than the estimated 1.7 percent increase, as exports to China and Europe decreased. This change in July comes after a 0.4 increase in June. Look for changes in the iShares MSCI Japan Index Fund (NYSEArca: EWJ).
Europe
- European stock indexes soared as investors speculate that the Fed would soon execute a large amount of stimulus into the U.S. economy. Check for movements in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
- German retail sales fell unexpectedly in July due to decreasing demand as a result of the regional debt crisis. Retail sales fell 0.9 percent against an expected 0.2 percent increase. Expect this news to affect the iShares MSCI Germany Index Fund (NYSEArca: EWG).
Domestic
- U.S. stock futures advanced as investors expect the Fed to announce a new round of stimulus for the economy in today's highly anticipated meeting.
Commodities
All commodities news is as of 7:15 a.m. ET.
Gold and Silver Rose
- Gold advanced 0.28 percent, or $4.68, to $1660.28. Expect modest increases in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
- Silver increased 0.54 percent, or $0.17, to $30.60. Expect gains in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Ascended
- The October contract for WTI crude oil advanced 0.72 percent, or $0.68, to $95.30 per barrel.
- The October contract for Brent crude oil boosted 0.64 percent, or $0.72, to $113.37 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
None as of yet today
ETF Launches
None as of yet today
ETF Filings
None as of yet today
Economic Calendar
Domestic
- Chicago PMI - 9:45 a.m. ET
- Consumer Sentiment - 9:55 a.m. ET
- Ben Bernanke Speaks - 10:00 a.m. ET
- Factory Orders - 10:00 a.m. ET
- Farm Prices - 3:00 p.m. ET
Americas
◦ GDP - 8:30 a.m. ET
◦ Monthly GDP - 8:30 a.m. ET
Europe
◦ Retail Sales - 2:00 a.m. ET
◦ Unemployment Rate - 4:00 a.m. ET
◦ CPI - 5:00 a.m. ET
◦ PPI - 6:00 a.m. ET
◦ HICP Flash - 5:00 a.m. ET
◦ Unemployment Rate - 5:00 a.m. ET
Asia/Pacific
◦ CFLP Manufacturing PMI - 9:00 p.m. ET
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