Trade Balance and Jobless Claims Before the Bell
US stock markets are looking for a flat open after the S&P 500 moved up 0.78% yesterday, but prices could change quickly depending on the outcome of two data releases an hour before the bell. The news is set to be mixed: the monthly trade deficit is expected to expand to $28 billion in July as imports rise faster than exports, but the weekly labor data should show 20k fewer people filing for first-time jobless claims.
Globally, equities have been turning in both directions. Asia saw the Nikkei soar 1.95% and the Hang Seng climb 1.05%, but China’s Shanghai Index moderated by 0.73% following steady gains in the prior seven days. In London, the FTSE 100 is currently trading down 0.60% after news that the Bank of England was holding the key interest rate at 0.50%. In France, the trade deficit posting its narrowest margin in four years, but the CAC 40 is trading down 0.36% as investors put more weight on the weaker-than-anticipated industrial production figures.
Gold, after inching past the $1,000 mark earlier in the week, has fallen $5 to $986, while the US$ index is slowly climbing this morning after touching a 2009 low on Tuesday. Commodities, meanwhile, are a bit weaker: oil up just 0.3% at $71.50, while base metals are down 1%-3%, and grain prices are flat.
Key Releases 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...