PPI, Jobless Claims, Existing Home Sales, Auction Supply
Stocks fell across Europe and Asia fell Thursday after Greece revealed that its 2009 deficit was a worse than anticipated 13.6% of GDP, against expectations of 12.7%. US stocks are following suit after a mixed session yesterday, but plenty of fresh data in the morning could change the markets direction.
One hour before the opening bell, Dow futures are down 30 points to 11,029 and S&P 500 futures are down 5.00 points to 1,195.25. The 2yr Treasury note is flat yielding 0.996% and the 10 year Treasury note is +0-01 at 99-02 yielding 3.741%.
Commodity prices are also weaker with WTI crude oil down 64 cents to $83.04 per barrel, while Spot Gold is trading $4.32 lower at $1,142.43.
Maintaining its flight-to-quality characteristics, the US dollar has strengthened, particularly against the euro.
In the newspapers, the Financial Times is leading with Goldman Sachs’ CEO Lloyd Blankfein calling the SEC lawsuit against his firm “political.”
In response to the comments, President Obama told CNBC the SEC did not give the administration any indication that it planned to file suit against Goldman; he added that the move was not politically motivated.
Meantime, Alan Greenspan, former Maestro of the Fed, said he is “very worried” about the long term prospects for the economy. He said the US lacks the “political ability” to reduce the deficit.
Key Events Today:
Leave a Comment
By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...Late-Stage Delinquencies are Surging
Aug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...Published by the Federal Reserve Bank of San Francisco
It was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...