OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ14 +0.44%) this morning are up +0.43% and European stocks are up +0.51% before U.S. Sep payrolls data is released later this morning. European stocks received a boost after Eurozone Aug retail sales came in much stronger than expected. Asian stocks closed higher: Japan +0.30%, China, South Korea and India closed for holiday, Hong Kong +0.57%, Taiwan +1.45%, Australia +0.39%, Singapore +0.76%. Japan’s Nikkei Stock Index rebounded from a 1-month low and closed higher after Prime Minister Abe pledged assistance for smaller companies hurt by the recent plunge in the yen. Hong Kong’s Hang Seng Index shook off losses and closed higher after government officials agreed to demands by student leaders for talks as protests continue to disrupt travel in the heart of Hong Kong. Commodity prices are mixed. Nov crude oil (CLX14 -0.57%) is down -0.32%. Nov gasoline (RBX14 -0.66%) is down -0.51%. Dec gold (GCZ14 -0.56%) is down -0.67%. Dec copper (HGZ14 +0.15%) is up +0.08%. Agriculture and livestock prices are mostly higher. The dollar index (DXY00 +0.40%) is up +0.43%. EUR/USD (^EURUSD) is down -0.39% after the Eurozone Sep Markit composite PMI was revised down to a 10-month low. USD/JPY (^USDJPY) is up +0.52% as the yen weakened after BOJ Governor Kuroda said a weakening currency was unlikely to hurt the economy. Dec T-note prices (ZNZ14 -0.01%) are unchanged.
The Eurozone Sep Markit composite PMI was revised down to 52.0 from the previously reported 52.3, the slowest pace of expansion in 10 months.
Eurozone Aug retail sales rose +1.2% m/m and +1.9% y/y, much stronger than expectations of +0.1% m/m and +0.7% y/y.
The China Sep non-manufacturing PMI fell -0.4 to 54.0, the slowest pace of expansion in 8 months.
The UK Sep Markit/CIPS services PMI fell -1.8 to 58.7, a bigger decline than expectations of -1.5 to 59.0.
