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08Oct2015 Pre-Market Commentary: US Futures Are Experiencing Volatile Conditions And Expected To Be Seen In Today's Session As It Opens Lower

Written by Gary

US stock futures index turned lower from resistance yesterday, then took back those modest retreats. Futures this morning have fallen fractionally lower and are showing signs of increased volatility for today's session. Initial jobless claims fall by 13,000 to 263,000 with little reaction from the premarkets.

Markets are expected to open lower.


Here is the current market situation from CNN Money

European markets are mixed today. The FTSE 100 is up 0.22% while the DAX gains 0.10%. The CAC 40 is off 0.08%.

What Is Moving the Markets

Here are the headlines moving the markets.

U.S. jobless claims fall to near 42-year low

WASHINGTON (Reuters) - The number of Americans filing new applications for jobless benefits fell more than expected to a near 42-year low last week, pointing to ongoing tightening in the labor market despite the recent slowdown in hiring.

Equity rally stalls as German data casts cloud over global growth

LONDON (Reuters) - Global stocks held just off three-week highs on Thursday after unexpectedly weak trade and machinery orders data from Germany and Japan hinted that recovery momentum is stalling in more of the world's biggest economies.

Oil pares gains after U.S. inventories cloud outlook

LONDON (Reuters) - Oil prices held steady after surrendering early gains on Thursday, as an unexpectedly large rise in U.S. inventory levels dented some of the recent optimism that the oversupply plaguing the market could soon vanish.

Dell in talks to buy data storage company EMC

(Reuters) - Dell Inc [DI.UL], the world's third largest personal computer maker, is in talks to buy data storage company EMC Corp , a person familiar with the matter said, in what could be one of the biggest technology deals ever.

Sony cuts U.S. prices for PlayStation 4 ahead of holiday season

TOKYO (Reuters) - Sony Corp said it was cutting the price of its PlayStation 4 videogame console to around $350 from $400 to boost sales ahead of the year-end holiday season.

Volkswagen plays down hopes of quick answers over emissions cheating

WOLFSBURG, Germany (Reuters) - Volkswagen said on Wednesday it would take time to get to the bottom of its rigging of diesel emissions tests, hours before the carmaker is due to give updates on its findings to German regulators and U.S. lawmakers.

Despite Surging Job Cuts, Initial Jobless Claims Tumble Back Near 42 Year Lows

Job cuts have already surpassed last year's total, according to Challenger, Gray & Christmas with the highest annual total since 2009, when nearly 1.3 million layoffs were announced at the tail-end of the recession... so how does the government explain the fact that initial jobless claims have once again re-tumbled back to close to 42-year lows...

Initial claims dropped 13k this week to 263k - just shy of the lowest levels sicne 1973...

As Job cuts soar...

One of these is lying...

The third quarter ended with a surge in job cuts, as U.S.-based employers announced plans to shed 58,877 in September, a 43 percent increase from the previous month, according to a report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc. The September total was third large ...

NATO Threatens To Send In Troops After Russia Stations Ground "Battalion" In Syria

As the propaganda “war†between East and West intensifies ahead of what might ultimately transform into an actual war in the skies above Syria, the world is transfixed with the scope of Russia’s week-old military campaign in support of the Assad regime.

Thanks to the fact that the West selected Islamic militants as its anti-Assad weapon of choice, Putin gets to pitch the entire effort as a “war on terror†which means The Kremlin effectively has a license to brag and sure enough, slickly-produced ISIS videos of beheadings have now been definitively replaced by slickly-produced videos of Russian warships launching cruise missiles at terrorist targets.

In short, Moscow is on a roll both militarily (of course that’s not difficult when you’re a superpower playing against a couple of JV militias) and perceptually, which makes it possible to continually ratchet up the pressure on anti-regime forces as the global applause only seems to grow with each incremental escalation much to chagrin of both the Pentagon and Washington’s Mid-East allies and as we said earlier this week, "a very likely course of events is that despite Russia's denials, the Pentagon will use the gambit of a Russian ground campaign, credible or not, to get permission from Congress to send a 'small', at first, then bigger ground force of US troops in Syria to, you guessed it, 'fight ISIS', but really to do everything to prevent Russian troops from taking over key strategic positions."

On Thursday we get the latest set of headlines from Syria, starting with NATO asserting that Russia has a ground battalion at the ready supported by tanks. Here’s Reuters:

According To Bernanke, This Was The "Biggest Impact Of QE"

Are you ready for this... are you sitting down... you better be sitting down. Here it comes



BERNANKE SAYS BIGGEST IMPACT OF QE WAS TO 'CREATE JOBS'

just :0

From "hope" to "nope"...


Silver Loses Key Technical Support After 'Weak' China Open Plunge

Having closed yesterday above the 200-day moving average for the first time since May, the weaker-than-expected Chinese equity market open sent the precious metal tumbling and it is extending losses in the early US session.

And as the morning flush hits, Silver falls further...

Charts: Bloomberg

Deutsche Bank Sees Big Loss on Write-Down in Corporate Banking

Deutsche Bank warned it will take a $6.5 billion charge on assets in its investment bank and retail- and private-banking operations for the third quarter and said it could cut its dividend this year.

Global Stocks Edge Lower as Investors Await Fed Minutes

Global stocks edged lower, as investors waited for more clues on the timing of the first increase in U.S. interest rates in nearly a decade when the minutes of the September meeting of the U.S. Federal Reserve are released.

Redemption Risk Of Bond Mutual Funds And Dealer Positioning. Fifth In A Six-part Series.

from Liberty Street Economics

-- this post authored by Tobias Adrian, Michael Fleming, Or Shachar, and Erik Vogt

Market participants have recently voiced concerns that bond markets seem to become illiquid precisely when they want to sell bonds. Some possible reasons for a decline in corporate bond market liquidity in times of stress include the increasing share of corporate bond ownership by mutual funds and the reduced share of corporate bond ownership by dealers. In this post, we examine the potential effects of outflows from bond mutual funds and the role of dealers' positioning in corporate bonds.

Dancing On The Heads Of Snakes

from STRATFOR

-- this post authored by Scott Stewart

Yemen's fractured militant landscape is becoming more complex as groups vie for influence on the battlefield. On the morning of Oct. 6, armed assailants launched a complicated attack involving multiple vehicle bombs against the al Qasr hotel and resort in Aden province. The hotel, which housed senior Yemeni officials as well as Saudi and Emirati military officers, is located in a large compound just across the bay from the city of Aden. It was probably chosen to serve as the government's temporary headquarters precisely because it is situated outside the city and was likely spared the ravages of the monthslong street war that has plagued Aden.

Need to Know: Why this stock-market rebound isn't just a 'flash in the pan'

The latest rush higher by stocks easily could flame out. But one market watcher has found historical grounds for why the recent runup won’t be as ephemeral as a roman candle.

London Markets: FTSE 100 climbs for 7th day after BOE keeps policy loose

U.K. stocks turn higher after the Bank of England keeps interest rates on hold and signals monetary policy will remain accommodative, as long as the inflation outlook is murky

Earnings Summary for Today

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To contact me with questions, comments or constructive criticism is always encouraged and appreciated:

gary@econintersect.com

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