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Asia, Europe and U.S. advance ahead of ECB announcement.
International
Asia
- Asian stock indexes advanced today as investors expected the ECB to make a strong commitment that addresses the European debt crisis.
- The Nikkei increased 0.01 percent; KOSPI advanced 0.38 percent; Shanghai Composite gained 0.7 percent; Hang Seng rose 0.34 percent; S&P/ASX 200 elevated 0.8 percent.
Europe
- European stock indexes soared today as investors speculate that the ECB would enact strong policy that deals with the European debt crisis. Check for activity in the Vanguard MSCI Europe ETF (NYSEArca: VGK).
- Euro-area GDP in the second quarter matched economist expectations and fell 0.2 percent, as consumers spend less and corporations invest less. GDP in Germany grew 0.3 percent; France had no change in growth; and Spain shrank 0.4 percent.
- The Bank of England held rates and the size of its QE pool at 0.5 percent and £375 billion, respectively. Part of the reason for not changing the rate or the QE pool is an assessment of the bank's £80 funding for its lending program. On a side note, the bank expects inflation to fall from 2.6 to 2 percent by the end of the year. Look for activity in the iShares MSCI United Kingdom ETF (NYSEArca: EWU).
Domestic
- U.S. stock futures indicate a higher opening on the ECB stabilizing the euro-area and global markets in today's highly anticipated announcement.
Commodities
All commodities news is as of 7:25 a.m. ET.
Gold and Silver Rose
- Gold increased 0.90 percent, or $15.18, to $1709.18. Expect advances in the SPDR Gold Shares physical bullion ETF (NYSEArca: GLD).
- Silver soared 1.8 percent, or $0.58, to $32.83. Expect large increases in the iShares Silver Trust (NYSEArca: SLV).
WTI and Brent Oil Advanced
- The October contract for WTI crude oil rose 1.11 percent, or $1.06, to $96.41 per barrel.
- The October contract for Brent crude oil rose 0.67 percent, or $0.76, to $113.85 per barrel.
- Look for growth in both the United States Oil Fund (NYSEArca: USO) and in the United States Brent Oil Fund (NYSEArca: BNO).
Fund Flows
On Wednesday, Sept. 5, 2012, the top ETF in nominal inflows was the iShares S&P 400 MidCap (NYSEArca: IJH), with creations of $603.87 million. The top ETF in nominal outflows was the SPDR S&P 500 (NYSEArca: SPY), with redemptions of $1.41 billion.
ETF Launches
None as of yet today
ETF Filings
None as of yet today
Economic Calendar
Domestic
- Challenger Job-Cut Report - 7:30 a.m. ET
- ADP Employment Report - 8:15 a.m. ET
- Jobless Claims - 8:30 a.m. ET
- Bloomberg Consumer Comfort Index - 9:45 a.m. ET
- ISM Non-Mfg Index - 10:00 a.m. ET
- Quarterly Services Survey - 10:00 a.m. ET
- Fed Balance Sheet - 4:30 p.m. ET
- Money Supply - 4:30 p.m. ET
Europe
◦ ILO Unemployment Rate - 1:30 a.m. ET
◦ Halifax HPI - 3:00 a.m. ET
◦ BOE Announcement - 7:00 a.m. ET
◦ Manufacturers' Orders - 6:00 a.m. ET
◦ GDP - 5:00 a.m. ET
◦ ECB Announcement - 7:45 a.m. ET
Asia/Pacific
◦ Merchandise Trade - 9:30 p.m. ET
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