Global Markets:
- Asian Stock Markets : Nikkei down 0.39%, Shanghai Composite down 0.72%, Hang Seng down 1.22%, ASX up 0.02%
- Commodities : Gold at $1234.90 (+0.20%), Silver at $14.65 (+0.10%), Brent Oil at $76.28 (-0.79%), WTI Oil at $66.61 (-1.07%)
- Rates : US 10-year yield at 3.100, UK 10-year yield at 1.440, Germany 10-year yield at 0.379
News & Data:
- (USD) Durable Goods Orders m/m 0.80% vs -1.30% expected
- (USD) Core Durable Goods Orders m/m 0.10% vs 0.50% expected
- (EUR) ECB Press Conference vs previous
- (EUR) Main Refinancing Rate 0.00% vs 0.00% expected
- (All) OPEC-JMMC Meetings vs previous
- (EUR) German Ifo Business Climate 102.8 vs 103.1 expected
- (EUR) Spanish Unemployment Rate 14.60% vs 14.90% expected
- Italy Govt Considering Fund To Support Troubled Banks: Stampa
- Draghi Faces Seven-Week ECB Confidence Test on Euro-Area Economy
- PBOC's Pan: Yuan healthy amongst Emerging Market currencies
Markets Update:
Asian stock markets are mostly lower on Friday in choppy trade, with some of the markets drifting into negative territory after opening higher following the overnight rebound on Wall Street due to bargain-hunting. Disappointing third-quarter sales figures from Alphabet and Amazon.com once again raised concerns about the outlook for corporate earnings and dampened investor sentiment.
U.S. futures pointed to a lower open stateside in the next session. During Asian hours, Dow Jones Industrial Average futures suggested a decline of 336.55 points at Friday's open. Meanwhile, S&P 500 and Nasdaq futures also pointed to losses.
The Japanese market drifted lower after opening higher. Japanese stocks closed near seven-month lows on Thursday. The major exporters are mostly higher on a slightly weaker yen, with the benchmark Nikkei down 0.39%. In China, stocks fell into negative territory by the end of the morning session, erasing earlier gains.
The Shanghai composite fell 0.73 percent while the Shenzhen composite slipped 0.25 percent. Hong Kong's Hang Seng index declined 1.22 percent. Australia's ASX 200 traded flat, with the heavily weighted financial subindex down by 0.27 percent.
In currency markets, the euro fell, extending weakness after European Central Bank President Mario Draghi said the bank's 2.6 trillion euro ($2.96 trillion) asset purchase program will end this year and interest rates could rise after next summer, despite fears about the monetary union's economic and political future. Oil prices gave up ground, heading for their third weekly loss after earlier rising on signals from Saudi Arabia's energy minister that there could be a need for intervention to reduce oil stockpiles.
Upcoming Events:
- 01:30 PM GMT – (USD) Advance GDP q/q
- 01:30 PM GMT – (USD) Advance GDP Price Index q/q
- 03:00 PM GMT – (EUR) ECB President Draghi Speaks
- 03:00 PM GMT – (USD) Revised UoM Consumer Sentiment
- &more…
