U.S. stock index futures pointed to a marginally higher open (SPY +0.7%) this morning morning and then slipping into negative territory. European and U.K. stocks are broadly lower in mid-morning trade and Asian shares ended mostly lower. Crude prices rallied to the highest level since June and Gold prices inched up.
Here is the current market situation from CNN Money
European markets are lower today with shares in France off the most. The CAC 40 is down 0.40% while London's FTSE 100 is off 0.36% and Germany's DAX is lower by 0.32%.
Tuesday's Key Earnings
Darden Restaurants (NYSE:DRI) +0.6% boosting profit guidance.
Micron Technology (NASDAQ:MU) -4.6% AH swinging to a loss.
In Asia, Japan +0.5% to 16819. Hong Kong +0.4% to 23788. China closed. India -0.4% to 28220. In Europe, at midday, London +0.6%. Paris +0.7%. Frankfurt +0.7%. Futures at 6:20, Dow -0.1%. S&P flat. Nasdaq flat. Crude +1.8% to $49.58. Gold +0.5% to $1275.50. Ten-year Treasury Yield +1 bps to 1.7%
Looking at the last three columns, the first one (Actual), is what was reported this morning. The second column (Forecast) is what analysts had forecast and the third column is the previous report. Full calendar HERE.
LONDON (Reuters) - Oil rose towards $52 a barrel on Wednesday, hitting its highest since June, supported by an industry report that U.S. inventories probably fell for a fifth straight week and OPEC's deal to cut supply.
(Reuters) - U.S. seeds and agrochemicals company Monsanto Co , which agreed last month to be bought by Germany's Bayer AG for $66 billion, reported a smaller quarterly loss on Wednesday, helped by higher corn seed volumes and lower expenses.
HONG KONG/SINGAPORE (Reuters) - McDonald's Corp is nearing a deal to sell 20-year franchise rights for its Singapore and Malaysia outlets to Saudi Arabia's Reza group, in a transaction estimated at up to $400 million, people familiar with the matter said.
(Reuters) - BlackRock Inc , the world's biggest asset manager, said it would cut prices across its growing U.S. iShares Core exchange-traded funds (ETFs) to help wealth advisers transition to a new rule governing retirement products.
TOKYO (Reuters) - Japan's Honda Motor Co Ltd and Yamaha Motor Co Ltd on Wednesday said they were joining forces to develop scooters for the domestic market, burying the hatchet on a decades-old rivalry and consolidating production in response to a shrinking motorcycle market.
WASHINGTON (Reuters) - The U.S. Supreme Court is set to hear arguments on Wednesday in a closely watched case in which the eight justices will consider whether to impose limits on prosecutors contemplating insider trading charges against hedge fund managers and other traders.
LONDON (Reuters) - Britain's financial industry could lose up to 38 billion pounds ($48.34 billion) in revenue in a so-called 'hard Brexit' that would leave it with restricted access to the European Union's single market, according to a report commissioned by an industry group.
While we found it hard to call a winner in last night's VP "interruptionfest", others were quicker to point out that it was Trump who was the biggest beneficiary from last night's debate. As the Hill noted overnight, Donald Trump got help from an unexpected quarter on Tuesday night as Hillary Clinton's running mate, Tim Kaine, delivered an uneven performance in the year's sole vice presidential debate, adding that "stylistically at least, Trump's vice presidential nominee, Mike Pence, was the clear winner of the encounter." It notes that his superiority was especially clear in the early stages. Pence was steady and controlled in those crucial moments while Kaine interrupted and appeared overly aggressive, even to independent observers.
Bloomberg confirms as much noting that "Donald Trump's weeklong slide in the presidential race started when he showed up to the first debate unprepared and spoiling for a fight. On Tuesday evening, Mike Pence helped slow it by doing the opposite."
Calm and measured, Pence showed off his preparation for his vice-presidential showdown with Democrat Tim Kaine, fending off a slashing, interrupting opponent. The Indiana governor prepared for the debate "since the night he received the call from Mr. Trump," a campaign aide told ABC News, enlisting Wisconsin Governor Scott Walker as Kaine's stand-in during practice sessions last week.
In what would under other circumstances likely be a major media spectacle, Politico reported that the Obama administration is moving to dismiss charges against an arms dealer whom it had accused of selling weapons destined for Libyan rebels and who had threatened to expose Hillary Clinton's talks about arming anti-Qaddafi rebels.
According to a motion filed in federal court in Phoenix, the DOJ on Monday filed a motion to drop the case against the arms dealer, an American named Marc Turi. One potential reason for the surprising move is that as Politico writes, the deal averts a trial that threatened to cast additional scrutiny on Hillary Clinton's private emails as Secretary of State, and to expose reported Central Intelligence Agency attempts to arm rebels fighting Libyan leader Moammar Qadhafi.
Turi was indicted in 2014 on four felony counts: two of arms dealing in violation of the Arms Export Control Act and two of lying to the State Department in official applications. The charges accused Turi of claiming that the weapons involved were destined for Qatar and the United Arab Emirates, when the arms were actually intended to reach Libya. Turi's lawyers argued that the shipments were part of a U.S. government-authorized effort to arm Libyan rebels. It's unclear if any of the weapons made it to Libya, and there's no evidence linking weapons provided by the U.S. government to the Benghazi attacks.
According to Politico government lawyers were facing a Wed ...
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