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| | US Market |  | | NYSE | AMEX | Dow Jones | Nasdaq |  |  |  |  | | Please click on the images to view our interactive charts | | | The major U.S. index futures are pointing to a slightly higher opening on Wednesday, with sentiment holding up even as fundamentals concerns remain. Meanwhile, across the Atlantic, the mood has turned buoyant, helped by a rebound in beaten down stocks and fairly positive private sector activity data. Notwithstanding, the dollar trading mostly higher, commodities are firmer. Though the domestic markets may strive to get back to winning ways, the underlying concerns may act as dampener.
On Tuesday, U.S. stocks declined notably, as risk aversion weighed down on all risk asset classes. The major averages opened lower and fell further in late morning trading. Thereafter, the averages moved roughly sideways before trimming some of its losses in late trading.
The Dow Industrials ended down 179.72 points or 1.09 percent at 16,331, the S&P 500 Index lost 24.23 points or 1.23 percent before closing at 1,943 and the Nasdaq Composite closed at 4,757, down 72.23 points or 1.50 percent.
Twenty-seven of the thirty Dow components closed lower for the session, while the remaining 3 stocks advanced modestly. Apple (AAPL), Boeing (BA), Cisco Systems (CSCO), Goldman Sachs (GS), Intel (INTC) and United Technologies (UTX) were among the biggest decliners of the session.
Among the sectors, transportation, gold, housing, semiconductor and computer hardware stocks were among the worst performers of the session.
On the economic front, the Federal House Finance Agency reported that house prices rose 0.6 percent month-over-month in July following a 0.2 percent increase in June. Annually, prices were 5.6 percent higher. |
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| | US Economic Reports | | | | CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | | | Markit is set to release the results of its flash U.S. manufacturing PMI for September at 9:45 am ET. Economists expect a PMI score of 53.1 for the month, up from 52.9 in August.
The Energy Information Administration is due to release its Weekly Petroleum Status report for the week ended September 18th at 10:30 am ET.
Crude oil stockpiles fell by 2.1 million barrels to 455.90 million barrels in the week ended September 11th. Inventories remained near levels not seen for this time of year in at least the last 80 years.
Meanwhile, distillate stockpiles increased by 3.1 million barrels but were in the middle of the average range for this time of the year. Gasoline inventories rose by 2.8 million barrels and were in the middle of the average range.
Refinery capacity utilization averaged 92.80 percent over the four weeks ended September 11th compared to 93.30 percent over the four weeks ended September 4th.
Atlanta Federal Reserve Bank President Dennis Lockhart is scheduled to speak in Columbus, Georgia at 12:30 pm ET.
The Treasury will release the results of its auction of 5-year notes at 1 pm ET.
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| | Stocks in Focus | | | | FTSE 100 | Euronext | Dax perf | CAC 40 |  |  |  |  | | Please click on the images to view our interactive charts | | | MetLife (MET) said its board has authorized the buy back of up to $1 billion worth of shares.
Copart (CPRT) reported better than expected fourth quarter earnings and revenues.
Remy International (REMY) announced that its shareholders have approved its previously announced agreement to be acquired by BorgWarner (BWA). |
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| | European Markets | | After some volatility in early trading, European stocks have recovered, as bargain hunters took advantage of the fairly positive domestic private sector activity data.
In corporate news, Swiss Re agreed to acquire Guardian Financial Services from Cinven for 1.6 billion pounds. , German's Axel Springer is reportedly in advanced talks to buy Business Insider in a deal that would value the U.S. digital publisher at about $500 million. On the economic front, flash estimate released by Markit showed that private sector activity in the eurozone slowed more than expected in September. The composite PMI fell to 53.9 from 54.3 in August, while economists expected a reading of 54. The manufacturing PMI came in line with expectations at 52, but down from 52.3 in August, while the service sector PMI fell 0.2 points to 54. Economists expected a 0.2-point improvement to 54.4. The French economy stalled as estimated in the second quarter, final data from the statistical office INSEE. GDP remained stable after expanding 0.7 percent in the first quarter and 0.1 percent in the fourth quarter of 2014. The second quarter growth rate came in line with the estimate published on August 14. |
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| | Asian markets | | | | USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | | | The Asian markets experienced notable weakness across the board, as global growth worries intensified following the release of anemic Chinese manufacturing activity data. The Japanese market was closed for a third straight session for a public holiday.
Australia's All Ordinaries opened lower and fell steeply in early trading. After moving sideways till early afternoon trading, the index took a leg down and began to move sideways once again. At the close of trading, the index was down 95.90 points or 1.87 percent at 5,035. The market witnessed across the board sell-off, with energy, financial and material stocks being the worst hit.
China's Shanghai Composite Index ended at 3,116, down 69.73 points or 2.19 percent, and Hong Kong's Hang Seng Index closed 496.60 points or 2.28 percent lower at 21,300.
On the economic front, a report released by Markit and Caixin showed that the Chinese manufacturing sector continued to contract in September. Flash estimate showed a PMI score of 47, the lowest reading in 6-1/2 years, down from 47.3 in August and lower than the consensus estimate of 47.5.
The Conference Board reported that its leading economic indicators index for Australia rose 0.3 percent month-over-month in July after declining for three straight months.
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| | Currency and Commodities Markets | | Crude oil futures are rising $0.31 to $46.67 a barrel after declining $0.60 to $46.36 a barrel on Tuesday. Meanwhile, an ounce of gold is trading currently at $1,128.60, down $3.80 from the previous session's close of $1,124.80. On Tuesday, gold fell $8.
On the currency front, the U.S. dollar is trading at 120.19 yen compared to the 120.15 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is valued at $1.1138 compared to yesterday's $1.1120.
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