At
0500 BST today, FTSE 100 futures are trading marginally lower.
At
0500 BST today, German DAX Xetra 30 futures are trading 6.6 points down, while
French CAC-40 futures are trading marginally lower.
At
0500 BST today, DJIA futures are trading 24.0 points down.
Markets
in Japan were closed on account of public holiday.
In
Asia, crude oil for November delivery is trading 0.5% or $0.42 lower at $89.45
per barrel.
At
0400 BST today, the GBP is trading 0.2% lower against the USD at $1.6113, 0.1%
higher against the EUR at €1.2396, and 0.2% lower against the JPY at ¥126.69.
US Market
Snapshot
At
0500 BST today, DJIA futures are trading 24.0 points down.
On
Friday, DJIA edged up 0.3%, to end at 13,610.2. NASDAQ slid 0.4%, to close at
3,136.2. S&P 500 eased marginally to settle at 1,460.9.
US
markets closed mixed on Friday, as early euphoria over a better-than-expected
September jobs report faded amid renewed concern about the eurozone debt
crisis.
First
Solar slumped 11.0%, after a broker downgraded the stock to “Negative” from
“Positive”, citing reliability related issues of module-junction box. Zynga
lost 11.9%, as it cut its full-year earnings and revenue outlook late Thursday.
Apple
lost 2.1%, apparently weighed down by an encouraging quarterly profit posted by
its rival, Samsung. Hewlett-Packard
continued its slide, dropping 1.4%, after a broker downgraded its rating on the
stock to “Neutral” from “Buy”.
However,
Home Depot rose 2.4%, hitting a new 52-week high, as Minyanville named it as
one of the top buys in the services sector. Boeing added 1.4%, after it
delivered 149 commercial air-planes in the third quarter, a sharp rise from a
year ago.
After
the closing bell, Celadon Group rose 1.7%, as its projected first-quarter
earnings that surpassed market expectations.
Asian Market
Snapshot
Asian
markets are trading lower this morning, as investors exercised caution before a
meeting of the European finance ministers at Luxembourg, aimed to ease the
European debt crisis.
In
Hong Kong, Prada SpA lost values, as China's retail sales growth slowed during
the Golden Week holiday. SIM Technology Group tumbled as it mulled to raise
$22.7 million. ZTE Corp paced losses, as a US congressional investigation
concluded that the company posed a security threat to the US and should be
barred from US contracts and acquisitions.
In
South Korea, Samsung Electronics paced losses, as a survey of US consumers
revealed that the patent ruling in a legal-row with Apple had a mostly-negative
impact on Samsung’s long-term competitive position in smart-phones and tablets.
Japanese
markets were closed on account of public holiday. Hang Seng is trading 0.7%
down, at 20,855.9. Kospi is trading 0.7% lower, at 1,980.5.
UK Market
Snapshot
At
0500 BST today, FTSE 100 futures are trading marginally lower.
Axa
Plc is considering plans to branch into legal services to remain competitive in
the market and continue to offer customers choice.
Britain’s
defence secretary has warned that the French and German governments must reduce
their stakes in EADS for the UK to allow a proposed merger with BAE Systems Plc.
European Market
Snapshot
At
0500 BST today, German DAX Xetra 30 futures are trading 6.6 points down, while
French CAC-40 futures are trading marginally lower.
According
to “Welt am Sonntag”, BMW AG's motorcycle unit is mulling to improve vehicle
sales both this year and in 2013 and is eyeing to expand its product portfolio
and improve sales in Asia and America.
According
to Reuters, PPR is preparing to sell its book and CD retailer Fnac and online
fashion store La Redoute as part of a strategy to concentrate on business
luxury and sports brands.
Commodities
In
Asia, crude oil for November delivery is trading 0.5% or $0.42 lower at $89.45
per barrel.
On
Friday, crude oil for November delivery fell 2.0% or $1.83 to $89.88 per
barrel, as continued uncertainty about the European debt crisis overshadowed a
report that showed surprise drop in the US unemployment rate. Additionally,
there was no support for oil prices as fears that unrest in the Middle East and
North Africa would lead to further supply problems begun to wane.
Gold
for immediate delivery is trading 0.5% lower today, at $1,770.97 per ounce.
Gold
for December delivery dropped 0.9% or $15.70 to $1,780.80 per ounce on Friday,
as a dip in US unemployment rate in September weakened the case for any
additional US Fed stimulus action, decreasing the demand for the yellow metal
as an inflation hedge.
On
Friday, copper 3-month futures fell 0.4% or $34.5, to close at $8,295.50 /MT. Aluminium
3-month futures rose 1.5% or $30.0, to close at $1,990.00 /MT.
Currencies
At
0400 BST today, the GBP is trading 0.2% lower against the USD at $1.6113, 0.1%
higher against the EUR at €1.2396, and 0.2% lower against the JPY at ¥126.69.
The
EUR is trading 0.3% lower against the USD at $1.2998 and 0.3% lower against the
JPY at ¥102.22, ahead of reports due later in the day which are expected to
show that German industrial production and exports dropped in August. Investors
are also expected to remain watchful about the European Finance Ministers meet
in Luxembourg today, while German Chancellor Angela Merkel is expected to visit
Greece tomorrow.
The
AUD is trading lower against the USD, before data due in the week which might
show that unemployment in Australia increased in September.
On
Friday, the USD ended lower against the EUR, as stronger-than-expected US
economic data indicated that the world’s biggest economy is recovering and
decreased demand for the dollar as a safe haven asset. The USD ended higher
against the JPY.
However,
the JPY traded higher earlier in the trading session, as the Bank of Japan kept
its monetary policy unchanged and refrained from additional easing measures.
The
CAD ended higher against the USD, after Canada reported strong jobs growth for
September.
Macroeconomic
Snapshot
On
a quarterly basis, the GDP in eurozone fell 0.2% in the second quarter of the
year, compared to a 0.3% drop in the previous quarter.
On
a seasonally adjusted monthly basis, German factory orders declined 1.3% in
August, compared to 0.3% growth recorded in July.
US
non-farm payroll employment rose by 114,000 in September, compared to an
upwardly revised increase of 142,000 in August. Meanwhile, the unemployment
rate eased to 7.8% in September from 8.1% recorded in August.
US
consumer credit jumped $18.2 billion in August, compared to a revised fall of
$2.45 billion recorded in July.
On
a weekly basis, the US ECRI leading index’s annualized growth rate rose to 4.7%
from 3.7% rise recorded in the previous week.
The
US federal budget deficit shrank by $207 billion this fiscal year, but stayed
above the $1 trillion mark.
Japan’s leading index rose
to a seasonally adjusted 93.6 in August, from 93.0 in July.
Source: www.etxcapital.com