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13Oct2015 Pre-Market Commentary: U.S. Futures Down, Europe And Asia In The Red, Oil Slipping, Investors Weary About Good Third-Quarter Corporate Earnings

Written by Gary

Global Markets are in the red this morning with the U.S. stock futures indexes off a half percentage point as weak Chinese trade data rekindled fears about the health of the global economy. European markets are lower with shares in Germany leading the slide with the DAX down 1.34% while France's CAC 40 is off 1.26% and London's FTSE 100 is lower by 0.96%.

US markets are expected to open lower with investors sitting on wallets awaiting 3rd. Quarter corporate earnings reports.


Here is the current market situation from CNN Money

European markets are broadly lower today with shares in Germany off the most. The DAX is down 1.58% while France's CAC 40 is off 1.40% and London's FTSE 100 is lower by 0.91%.

China's trade slump has extended into September, adding more evidence that the world's second largest economy is stalling.

After erasing last week's big gains through yesterday's 5.3% drop, oil prices now have even less to look forward to: the Iran nuclear deal. Tehran's parliament passed a bill this morning supporting the nuclear accord reached with six world powers, removing a major obstacle to putting the agreement into practice. Should sanctions be lifted, Iran would double its oil exports to 2.3M barrels a day, multiplying tensions in the world's sensitive oil markets. Crude futures -0.5% to $46.86/bbl.

Russia's economy could shrink 3.8% this year on the back of lower oil prices and international sanctions say Russian economists.

What Is Moving the Markets

Here are the headlines moving the markets.

China economic picture remains cloudy as September export fall eases, imports slump

BEIJING/SHANGHAI (Reuters) - China's exports fell less than expected in September, with monthly figures showing recovery, but a sharper fall in imports left economists divided over whether the country's ailing trade sector is showing signs of turning around.

Strong dollar eats into J&J quarterly sales

(Reuters) - Johnson & Johnson reported a 7.4 percent fall in quarterly sales as the impact of a strong dollar more than offset higher sales of its mainstay older drugs.

Stock futures fall on weak China trade data

(Reuters) - U.S. stock index futures were lower on Tuesday as weak Chinese trade data rekindled fears about the health of the global economy.

Global shares fall as Chinese data dims economic outlook

LONDON (Reuters) - World share prices fell on Tuesday, snapping their longest winning streak since February after Chinese trade data gave a further sign the world's economic growth engine is sputtering and a big fall in oil prices triggered profit-taking.

Gold & Silver Jump, Rebound From Overnight Asian Dump

As Asia opened last night, gold and silver came under pressure (ahead of China's biggest Yuan strengthening since November 2014). As US re-awakens from Columbus Day vacation, it appears demand is back (and in heavy volume) for precious metals...

4 Warnings And Why You Should Pay Attention

Submitted by Lance Roberts via STA Wealth Management,

When I was growing up my father, probably much like yours, had pearls of wisdom that he would drop along the way. It wasn't until much later in life that I learned that such knowledge did not come from books, but through experience. One of my favorite pieces of "wisdom" was:

"Exactly how many warnings do need before you figure out that something bad is about to happen?"

Of course, back then, he was mostly referring to warnings he issued to me "not" to do something I was determined to do such as jumping off the roof with a bedsheet convinced it was a parachute. After I had broken my wrist, I understood what he meant.

Over the weekend, those warnings came to mind as the recent bounce in the financial markets once again has individuals scrambling to grab "bedsheets" to jump off the roof once again. Of course, much of their behavior is driven by mainstream commentary suggesting that the recent market rout is over.

However, there are currently plenty of warning signs that suggest that individuals might want to reconsider the risks before taking that leap. Here are four warnings to consider.

Warning 1: Profit Margins

Edward Harrison at Credit Writedowns picked up on the issue of declining profit margins that I addressed last week.

Frontrunning: October 13



Playboy to Drop Nudity as Internet Fills Demand (NYT)

Stock futures fall on weak China trade data (Reuters)

Any Hall is down 20% YTD (WSJ)

Global Stocks Slide With Metals After Chinese Imports Tumble (BBG)

Clinton's tack to the left to be on display in Democratic debate (Reuters)

Switzerland Said to Impose 5% Leverage Ratio on Big Banks (BBG)

AB InBev, SABMiller brew up $100 billion deal (Reuters)

Cutting Staff Pay to Keep Workers (WSJ)

Oil Surplus to Persist in 2016 as IEA Sees Demand Growth Slowing (BBG)

Cracks Emerge in Bond Market (WSJ)

Germany's Schaeuble warns against addiction to low interest rates (Reuters)

Pimco Times Treasuries Market by Adding Before Second-Hal ...

Oil Bull Andrew Hall Stands His Ground

The main fund at Astenbeck Capital Management lost 7% in September, leaving it down 20% for 2015 as of Oct. 1 and on track for its worst year since its inception in 2008.

Global Stocks Fall on China Data

Global stocks were lower after the release of fresh evidence that China’s economy is slowing.

September 2015 Small Business Optimism Index Increased Insignificantly

The National Federation of Independent Business's (NFIB) optimism index improved 0.2 to 96.1 - and still not above the 42 year average of 98.. The market was expecting the index between 94.8 to 96.5 with consensus at 95.8.

Early Headlines: China Imports Crash, Asia And Europe Markets Lower, Obamacare Dropouts, U.S. Banks 'Nationalized', Earth Cracks The Moon And More

Written by John Lounsbury

Early Bird Headlines 13 October 2015

Econintersect: Here are some of the headlines we found to help you start your day. For more headlines see our afternoon feature for GEI members, What We Read Today, which has many more headlines and a number of article discussions to keep you abreast of what we have found interesting.

early-bird-301-180

Metals Stocks: Gold prices retreat after week-long rally

Gold futures headed lower on Tuesday in early trade as the metal appears to be taking a breather after a multiday runup in prices.

Market Snapshot: U.S. stock futures slip; Dow on track to halt 7-day runup

Wall Street looks set for a lower open, with weak Chinese trade data getting blamed for the slip after a seven-session winning streak for the Dow industrials.

Earnings Summary for Today

Earnings Calendar provided by Investing.com.

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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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