What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.
When? At 4:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the EUR to rise.
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1. Wall Street opened sharply lower on Monday with the Dow Jones industrial average losing more than a 1,000 points following a more-than 8 percent drop in Chinese shares and a selloff in oil and other commodities. The Dow has never lost more than 800 points in a day.
2. U.S stocks plunged Monday, with the Dow Jones Industrial Average plummeting more than 1,000 points following a global stock sell-off across European and Asian markets as fears escalated about China’s slowing economy. All three major indexes are on course for one of their worst opens since the financial crisis of 2008.
3. Gold prices rose to a fresh seven-week high on Monday, as heavy losses in global equity markets and the U.S. dollar boosted demand for the yellow metal.
4. As China's stock-market plunge spread to the United States, presidential candidates on Monday laid on blame and pushed their policy ideas from the sidelines, with Republican Donald Trump saying he had warned about U.S. exposure to China.
"I've been talking about China for years. Because China's going bad it's going to bring us down, too, because we're so heavily coupled with China," said real-estate mogul Trump on Fox News. "I'm the one that says you better start un-coupling from China because China's got problems."
5. Apple Inc's (O:AAPL) China business experienced "strong growth" in July and August, Chief Executive Tim Cook told CNBC on Monday. Cook said, in an emailed response to questions about the company's business in China, iPhone activations in China had accelerated over the past few weeks and the App Store in China had the best performance of year for over the past two weeks.
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The near 9 percent slump in Chinese stocks was their worst performance since the depths of the global financial crisis in 2009 and wiped out what was left of the 2015 gains, which in June has been more than 50 percent.
With the latest slide rooted in disappointment that Beijing did not announce expected policy support over the weekend, all index futures contracts slumped by their 10 percent daily limit, pointing to more bad days ahead.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 5.1 percent to a three-year low. Tokyo's Nikkei ended down 4.6 percent and Australian and Indonesian shares hit two-year troughs.
"China could be forced to devalue the yuan even more, should its economy falter, and the equity markets are dealing with the prospect of a weaker yuan amplifying the negative impact from a sluggish Chinese economy," said Eiji Kinouchi, chief technical analyst at Daiwa Securities in Tokyo.
There was further evidence that developed markets were becoming synchronized with the troubles. London's FTSE which has a large number of global miners and oil firms, was down for its 10th straight day, its worst run since 2003.
The pan-European FTSEurofirst 300 was last down 3.7 percent at 1,382.15 points, wiping around 300 billion euros ($344.61 billion) off the index and taking its losses for the month to more than 1 trillion euros.
U.S. stock futures also pointed to big losses for Wall Street's main markets, with the S&P 500, Dow Jones Industrial and Nasdaq expected to open down 2.8, 2.5 and 4 percent respectively.
It could tip the S&P 500 and Nasdaq formally into 'correction' territory - meaning stocks, at their lows, are 10 percent off their 52-week highs.
"We are in the midst of a full-blown growth scare," strategists at JP Morgan Cazenove said in a note.
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U.S. stocks poised for another sharp drop
Got some rest over the weekend? Good. There's a bumpy ride ahead.
U.S. stock futures are sharply down on Monday morning as worries about China continue to fuel a global sell off.
Nasdaq futures are down 3.5%, with Dow and S&P futures both around 2% lower.
1) China
No intervention, more losses: The Shanghai Composite closed 8.5% down, wiping out all gains made so far this this year. It has now fallen nearly 38% since its June peak. China's smaller Shenzhen Composite lost 7.7%.
Traders were hoping Chinese authorities would step in over the weekend to support the markets. "Unfortunately, there was nothing but disappointment and trader's angst turned into anger this morning and they decided to liquidate their positions," said Naeem Aslam, chief market analyst at Ava Capital Markets.
2) Stock market movers
Apple, Netflix suffer: Many U.S. stocks look poised to start the week deep in the red.
Apple (APLE) is down over 4% in premarket trading, while Netflix (NFLX, Tech30) is down more than 5%. Facebook (FB, Tech30) is trading about 4% lower.
Bank of America (BAC) has also suffered losses, trading 3.5% down in premarkets, and other financial stocks are under pressure.
3) Oil hits new 6-year low
Oil plunged 3.5% on Monday to trade at $39.04 per barrel. Prices had fallen below $40 per barrel for the first time since 2009 on Friday.
Natural gas and gold are also down. Cheap oil and other commodities are weighing heavily on many emerging markets, with Russia, Brazil, and Venezuela among the biggest losers.
4) International markets plunge
All major European markets opened down on Monday. London's FTSE 100 plunged 2.7% after entering correction territory last week. The "Footsie" is weighted towards resource companies and has been hit by the slowdown in demand from China.
Germany's DAX also fell 2.7%. China is a crucial market for its automakers.
And it was all misery for other Asian markets again, with all major regional indexes closing in the red. Tokyo's Nikkei ended the session 4.6% down.
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..
What is it? Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.
When? At 03:55pm Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the USD to rise.
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What is it? Expectations of future inflation can manifest into real inflation, primarily because workers tend to push for higher wages when they believe prices will rise.
When? At 11:00pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.
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Wall Street opened lower on Friday as weak manufacturing data from China spooked investors already worried about global growth.
LONDON - U.S. oil prices headed for their eighth consecutive week of falls on Friday, the longest losing streak since 1986, after a sharp drop in Chinese manufacturing increased worries over the health of the world's biggest energy consumer.
WASHINGTON - As he weighed whether to support President Barack Obama's nuclear deal with Iran, Representative Donald Norcross was showered with the sort of attention rarely shown to junior members of the U.S. Congress.
SHANGHAI -- Chinese stocks on Friday hit their lowest point since the government launched a massive program of intervention to prop up the market in early July, as manufacturing output figures gave another indication of the country’s slowing economy.
Gold gained in Asia on Friday after a weaker than expected manufacturing flash survey from Caixin and as investors increasingly doubt the Federal Reserve will raise rates in September. (Reuters)
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Ouch. It's all red on Friday.
Global markets are hitting fresh lows and U.S. stock futures are edging lower.
But it's the same old story: China turmoil, low oil prices, Fed uncertainty.
1) China slides again
The Shanghai Composite plunged 4.3% Friday, ending the week down 11%.
China manufacturing data came out worse than expected, hitting its lowest level in more than six years. The slowdown in China's factory activity is adding to concerns about the strength of global economic growth.
2) Stock market movers
Ross, Intuit, Mondelez International: Discount retailer Ross (ROST) saw shares sink more than 9% after the company warned it has a "cautious" outlook for the remainder of the year.
Intuit (INTU) stock also dipped 3% in after-hours trading. Mondelez International (MDLZ) shed 2.3% after the closing bell.
3) Commodities, emerging market currencies plunging
A range of emerging market currencies edged down again on Friday as the slide in oil and other commodities continue. The Russian ruble, Turkish lira, Malaysian ringitt and others are taking a hit.
Oil is still hovering just above $40 per barrel, after plunging to a six-year low earlier this week.
4) U.S. earnings and economics
John Deere (DE) and Foot Locker (FL) are among a small group of companies expected to report earnings before the market opens.
U.S. manufacturing data are expected later on Friday.
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What is it? Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.
When? At 8:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.
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What is it? Volatile items account for about a quarter of CPI but they tend to be very volatile and distort the underlying trend. The Bank of Canada pays most attention to the Core data - so do traders. This is among the few non-seasonally adjusted numbers reported on the calendar, as it's the calculation most commonly reported.
When? At 8:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.
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1) Wall Street fell sharply for the fourth straight day on Thursday after the Federal Reserve highlighted global growth concerns and as finance stocks declined on speculation that the central bank would not raise interest rates in September.
2) U.S. home resales rose more than expected in July to their highest level since 2007, a sign the U.S. housing market was heating up and could provide more support for the overall economy.
3) The number of Americans filing new applications for unemployment benefits unexpectedly rose last week, but the trend remained consistent with solid labor market momentum that could keep the Federal Reserve on track to raise interest rates this year. (Reuters)
4) U.S. crude oil prices fell to almost $40 a barrel on Thursday, their lowest since the global financial crisis of 2009, as supplies rose in North America and the Middle East, filling stockpiles to record levels.
5) The dollar moved lower against a basket of other major currencies on Thursday after the minutes of the Federal Reserve’s latest meeting prompted investors to push back expectations on the timing of an initial rate hike.
6) Gold prices extended gains to a five-week high on Thursday, after data showed that the number of people who filed for unemployment assistance in the U.S. rose unexpectedly last week. (Investing.com)
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Investors are bracing for a bruising session Thursday.
U.S. stock futures were falling and global markets are awash with red.
1) Oil slides
Crude prices are under pressure, losing 0.7% to hover just below $41 a barrel, after plunging to a six-year low on Wednesday. Oil has been falling in recent weeks as the supply glut worsens and demand remains sluggish. Weak oil is ringing alarm bells for investors about the health of the global economy.
And the latest victim of low oil prices? Kazakhstan. Its currency plunged 23% after the country's government allowed the tenge to float freely in an attempt to blunt the impact of falling crude prices.
2) China tumbles
Another day, another wild ride for Chinese investors. The Shanghai Composite closed down 3.4% and the smaller, tech-heavy Shenzhen index lost 3%.
Volatility has dominated trading in China over the summer and prompted Beijing intervene to stabilize markets.
3) Earnings updates
A batch of results are due before the market open, including Tech Data (TECD), Sears (SHLD), Madison Square Garden (MSG), Stein Mart (SMRT) and Kirklands (KIRK). This afternoon, Hewlett-Packard (HPQ, Tech30), Gap (GPS) and Ross (ROST) are due to provide earnings updates.
4) Economic reports
Plenty to watch out for on the economic front, beginning with the federal government's weekly jobless claims at 8:30 a.m. ET.
The National Association of Realtors releases July home sales figures at 10 a.m. ET. Sales surged in June, but analysts don't expect the trend to continue.
Also at 10 a.m., the Philadelphia Fed will post its business outlook survey for August. Last month there were signs manufacturing was slowing down, and unemployment data wasn't favorable.
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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy.
When? At 9:45pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CNY to rise.
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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment.
When? At 10:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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What is it? It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.
When? At 10:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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What is it? This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes.
When? At 8:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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