OVERNIGHT MARKETS AND NEWS
December E-mini S&Ps (ESZ14 -0.35%) this morning are down -0.33% and European stocks are down -0.44% as Amazon.com dropped 10% in pre-market trading after lowering Q4 revenue guidance and as BASF SE is down nearly 3% after it cut profit targets and abandoned its sales goal for next year. Travel and leisure companies are also on the defensive after a New York City doctor tested positive for the Ebola virus after returning from aid work in West Africa. The Russian ruble fell to a record low of 41.99 per dollar on speculation that Standard & Poor’s will cut Russia’s credit rating later today. Asian stocks closed mixed: Japan +1.01%, Hong Kong -0.13%, China -0.22%, Taiwan -0.97%, Australia +0.54%, Singapore -0.43%, South Korea -0.19%. Japan’s Nikkei Stock Index rose to a 2-week high amid optimism for U.S. earnings and European growth, while China’s Shanghai Stock Index fell to a 1-month low after China new home prices last month fell in 69 of 70 cities tracked by the government, the most on record and a sign that the slump in China’s property market continues. Commodity prices are mixed. Dec crude oil (CLZ14 -0.83%) is down -0.89%. Dec gasoline (RBZ14 -0.86%) is down-0.94%. Dec gold (GCZ14 +0.28%) is up +0.21%. Dec copper (HGZ14 +0.26%) is down -0.10% on signs of increased supplies after LME copper inventories rose +2,050 MT to 159,550 MT, a 3-1/4 month high. Agriculture and livestock prices are mostly higher. The dollar index (DXY00 -0.04%) is down -0.03%. EUR/USD (^EURUSD) is up +0.05%. USD/JPY (^USDJPY) is down -0.10%. Dec T-note prices (ZNZ14 +0.21%) are up +6.5 ticks.
China Sep new home prices fell in 69 of 70 cities tracked by the government, the most since Jan 2011 and a sign that the downturn in China’s property market continues.
The German Nov GfK consumer confidence unexpectedly rose +0.1 to 8.5, better than expectations of -0.3 to 8.0.
