U.S. stock futures indexes are displaying active volatility that should carry over into the session opening. China closed in the green and the midday EU markets are solidly above the unchanged line. WTI oil has climbed into the $46 range and the U.S. dollar is also climbing making analysts wonder which is going to break down first.
By all accounts the markets will open higher and may dive to negative numbers starting a volatile session of exaggerated movements.
Here is the current market situation from CNN Money
European markets are broadly higher today with shares in France leading the region. The CAC 40 is up 1.47% while London's FTSE 100 is up 0.76% and Germany's DAX is up 0.26%.
BERLIN (Reuters) - Volkswagen shares tumbled more than 20 percent on Monday, their biggest ever one-day fall, as the German carmaker was plunged into turmoil by accusations from U.S. authorities that it falsified emissions data.
-- this post authored by Angela Deng, Beverly Hirtle, and Anna Kovner
In March, the Federal Reserve and thirty-one large bank holding companies (BHCs) disclosed their annual Dodd-Frank Act stress test (DFAST) results. This is the third year in which both the BHCs and the Fed have published their projections. In a previous post, we looked at whether the Fed's and the BHCs' stress test results are converging in the aggregate and found mixed results.
LONDON (Reuters) - Wall Street was expected to start the week higher on Monday with a rebound in European stocks, the dollar and oil markets pointing to a tentative recovery in confidence following another difficult day in Asia.
(Reuters) - U.S. stock index futures were slightly higher on Monday after Wall Street closed lower last week as the Federal Reserve's decision to keep interest rates unchanged stoked fears of slowing global economic growth.
[Forward from Rick: With the Fed's decision not to raise rates, investors are more likely to return their focus to the deflationary forces that have been pushing government bond prices higher, and yields lower, for decades. Look for this trend to continue and possibly even pick up steam in the months ahead, says our good friend Doug Behnfield in the guest commentary below. A Colorado-based financial adviser, Doug's unconventional and often provocative ideas have been featured here many times in the past. He believes, as we do, that odds of a rate hike are remote and that it might have to await the next recovery cycle, which could feature inflation brought on by protectionism. (What would happen if rates go negative, as now seems quite possible? Click here for a scary rumination on the subject at ZeroHedge.)]
After sliding early in Sunday pre-market trade, overnight US equity futures managed to rebound on the now traditional low-volume levitation from a low of 1938 to just over 1950 at last check, ignoring the biggest single-name blowup story this morning which is the 23% collapse in Volkswagen shares in the aftermath of the company's emissions lying scandal which has cost the company â‚¬15 billion in market cap and has dragged Germany's Dax lower...
... and instead have piggybacked on what we said was the last Hail Mary for the market: the hope of more QE from either the ECB or the BOJ. Tonight, it was the latter and while Japan's market are closed until Thursday for public holidays, its currency which is the world's preferred carry trade and the primary driver alongside VIX manipulation of the S&P500, has jumped from a low of just over 119 on Friday morning to a high of 120.4, pushing the entire US stock market with it.
As Reuters reported over the weekend, sources suggest that the BoJ is again contemplating an overhaul of its QQE program with an increase in its JPY 80 trillion monetary base as its main option to achieve its inflation goal, adding that it has not ruled out moving away from its money printing program in the long term due to a lack of success in reaching the price goal. "QQE is not a programme intended to last another five, 10 years," said a former BOJ policymaker with knowledge of current monetary ...
Russia's gold reserves rose to 42.4 million troy ounces as of September 1 compared with 41.4 million troy ounces a month earlier, the Russian central bank announced on Friday.
The monthly accumulation of 1 million ounces in just one month was one of the more sizeable monthly purchases by Russia and equates to 31.1 metric tonnes in August alone.
The value of the bank's holdings rose to $47.68 billion from $44.96 billion a month earlier, Russia said in a statement on its website.
The amount bought was more than the 30.5 metric tons that Russia purchased in March, then the highest amount in six months.
Russia is now the seventh biggest holder of gold reserves after the U.S, Germany, the IMF, Italy and France and the rising gold power China. Russia has more than tripled its reserves since 2005 and holds the most gold bars since at least 1993, International Monetary Fund data shows.
Nations globally have been increasing their gold holdings in recent years, a reversal from two decades of selling. China, Kazakhstan, Ukraine and Belarus are among other nations that have been accumulating gold.
Gold remains a large part of many central banks' reserves, decades after they stopped using it to back paper and the electronic currency of today.
Russia has been steadily buying bullion since 2007 and the advent of the global financial crisis. Russia was accumulating gold even prior to tensions with the West and international sanctions over the Ukrainian conflict.
Gold has protected the Russian reserves and ac ...
BERLIN (Reuters) - Shares in Volkswagen plunged the most in almost six years in early Monday trading after U.S. authorities accused the German carmaker of falsifying emissions data, which means it could face penalties of up to $18 billion.
The Federal Reserve's decision to hold short-term interest rates steady in the face of deteriorating global economic growth is expected to limit gains this year in the U.S. dollar. That is good news for exporters and emerging-market countries.
ZURICH (Reuters) - Zurich Insurance Group AG abandoned its proposed 5.6 billion pound ($8.7 billion) bid for British insurer RSA Insurance Group PLC on Monday after forecasting a $200 million loss in its general insurance business due to explosions at the Chinese port of Tianjin.
LONDON (Reuters) - Standard Chartered was still reviewing if some of its clients were Iranian or Iran-connected entities in 2013, the Financial Times said, saying it had identified transactions that could put the bank at risk of more U.S. penalties.
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