At
0500 BST today, FTSE 100 futures are trading 16.2 points higher.
At
0500 BST today, German DAX Xetra 30 futures are trading 28.1 points higher,
while French CAC-40 futures are trading 16.0 points higher.
At
0500 BST today, DJIA futures are trading 41.0 points higher.
Nikkei
225 index is trading flat at 9,130.6.
In
Asia, crude oil for October delivery is trading 0.7% or $0.69 higher at $97.95
per barrel.
At
0400 BST today, the GBP is trading 0.1% higher against the USD at $1.5897,
slightly higher against the EUR at €1.2677, and marginally higher against the
JPY at ¥124.80.
US Market
Snapshot
At
0500 BST today, DJIA futures are trading 41.0 points higher.
Yesterday,
DJIA edged down 0.2% to settle at 13,172.8. NASDAQ edged up 0.2% to end at
3,073.7. S&P 500 rose marginally to close at1, 413.5.
US
stocks ended on a mixed note yesterday, trimming earlier losses, after the Fed
meeting minutes highlighted the central bank is preparing to take new steps to
bolster the economic recovery. Markets were trading in the negative territory
earlier following weak export data from Japan and caution over Greece's meeting
this week.
Apple
rose 2.0%, after a broker raised its target-price. Toll Brothers, PulteGroup
and DR Horton rallied between 3.8% and 4.1%, as sales of existing homes climbed
in July.
EBay
and Discover Financial Services rose 2.5% and 3.9%, respectively, after both
agreed to team up with PayPal on mobile payments. Williams Sonoma jumped 11.6%,
as its second-quarter earnings surpassed market expectations.
However,
Dell fell 5.4%, weighed down on disappointing second-quarter results and as it
forecasted weak personal-computer demand for second-half.
After
the closing bell, Hewlett-Packard dropped 4.8%, as it swung to a fiscal
third-quarter net loss. Retailer, Guess plunged 16.3%, as its second-quarter
results missed market estimates.
Asian Market
Snapshot
Asian
markets are trading mostly higher this morning, after the US Fed meeting
minutes hinted at another round of monetary easing, overshadowing a
preliminarily data that showed a drop in China’s manufacturing PMI slipped to a
nine-month low.
In
Japan, Hitachi, Mitsubishi Motors, Pioneer and Panasonic paced losses, as the
yen rose to a one-week high yesterday. Sharp surged after media reports that
the company might receive additional ¥200 billion in loans.
In
Hong Kong, Sinopharm gained as it reported a rise in earnings for the
first-half fiscal.
In
South Korea, Korea Zinc rose after gold prices climbed to near record-highs. LG
Display paced gains, amid speculation that it is manufacturing components to be
used in the next version of the iPhone.
Nikkei
225 index is trading flat at 9,130.6. Hang Seng index is trading 0.6% higher at
20,010.7. Kospi is trading slightly higher at 1,936.0.
UK Market
Snapshot
At
0500 BST today, FTSE 100 futures are trading 16.2 points higher.
BP
announced that the company’s terminals in the past week have delivered
off-specification gasoline to approximately 200 retail outlets in the northwest
Indiana and Chicago that has resulted in mechanical problems in vehicles.
Tullow
Oil announced that Blackrock has lowered its stake in the company to 10.8%.
European Market
Snapshot
At
0500 BST today, German DAX Xetra 30 futures are trading 28.1 points higher,
while French CAC-40 futures are trading 16.0 points higher.
According
to media reports, ThyssenKrupp is about to sell its subsidiary Tailored Blanks
to Chinese peer Wuhan Iron and Steel.
Carrefour
plans to raise up to €3 billion to fund a revival plan for its struggling
European hypermarket.
Commodities
In
Asia, crude oil for October delivery is trading 0.7% or $0.69 higher at $97.95
per barrel.
Yesterday,
crude oil for October delivery gained 0.4% or $0.42 to $97.26 per barrel, after
the Energy Information Administration reported a higher-than-expected decline
of 5.4 million barrels in US crude inventories for the week ended 17 August.
Growing
speculations that US Federal Reserve would soon implement new stimulus measures
and ongoing fears over supply disruption from Middle East region also supported
oil prices.
Gold
for immediate delivery is trading 0.4% higher today, at $1,661.55 per ounce.
Gold
for December delivery settled down 0.2% or $2.40 at $1,640.50 per ounce
yesterday, as investors decided to book profit following the recent rally in
gold prices and cautiously awaited the release of the US Federal Open Market
Committee minutes.
Later
in the day, the Fed minutes revealed most members favoured additional monetary
stimulus to support the domestic economic recovery.
Yesterday,
copper 3-month futures gained 0.7% or $52.5, to close at $7,577.00 /MT.
Aluminium 3-month futures rose 0.9% or $15.0, to close at $1,770.00 /MT.
Currencies
At
0400 BST today, the GBP is trading 0.1% higher against the USD at $1.5897,
slightly higher against the EUR at €1.2677, and marginally higher against the
JPY at ¥124.80. Bank of England policy maker Adam Posen stated yesterday that
the UK economy had stagnated.
The
EUR is trading slightly higher against the USD at $1.2539. The EUR is trading
marginally lower against the JPY at ¥98.44. The EUR is trading lower against
the JPY before the release of manufacturing and services purchasing managers’
indexes for the eurozone.
The
USD is trading lower against most of its major counterparts, ahead of Federal
Reserve Bank of Chicago President Charles Evans speech amid expectations of
additional stimulus measures and ahead of jobless claims and housing data due
later in the day.
Yesterday,
the USD ended lower against major currencies, after minutes from the Federal Reserve’s
latest policy meeting revealed that many members backed additional monetary
easing to support the economy unless the economy shows signs of expansion.
The
CAD ended lower against the USD, after a report indicated that Canadian retail
sales unexpectedly fell in June. However, losses were capped, following the
release of Federal Open Market Committee (FOMC) minutes that showed US policy
makers remain committed to more monetary stimulus unless the economy improves
considerably.
Macroeconomic
Snapshot
The
National Association of Realtors (NAR) stated that, existing home sales in the
US rose 2.3% to an annual rate of 4.47 million in July, from 4.37 million
recorded in June.
According
to Mortgage Bankers Association (MBA), for the week ended 17 August 2012,
mortgage application volume in the US, on a seasonally adjusted basis, declined
7.4% from one week earlier.
According
to the minutes of US Federal Reserve (Fed), many Fed policy makers stated that,
additional stimulus probably would be needed soon unless the US economy shows signs
of a durable pickup.
On
a year-on-year basis, super market sales in Japan declined 4.9% in July,
compared to a 3.9% drop recorded in the previous month.
Standard & Poor's
stated that, China’s government has significant capacity to support economic growth,
if needed.
Source: www.etxcapital.com
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