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| US Market |
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| 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 higher opening on Wednesday following the release of a report showing weaker than expected private sector job growth in September. The data may offset some of the recent concerns about the outlook for monetary policy.
A report on September service sector activity may also attract attention, although traders may be reluctant to make significant moves ahead of the labor Department’s more closely watched monthly jobs report on Friday.
Stocks moved to the downside during trading on Tuesday after Bloomberg reported the European Central Bank would probably wind down its $90 billion monthly bond purchases.
The ECB later said the report was erroneous, but investors remained concerned about the health of the European economy and financial sector.
The major averages eventually ended the day moderately lower but off their lows for the session. The Dow fell 85.40 points or 0.5 percent to 18,168.45, the Nasdaq edged down 11.22 points or 0.2 percent to 5,289.66 and the S&P 500 slid 10.71 points or 0.5 percent to 2,150.49. |
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| US Economic Reports |
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| CADUSD | Oil | Gold | Allbanc |  |  |  |  | | Please click on the images to view our interactive charts | |
| Payroll processor ADP released a report showing that U.S. private sector employment increased by less than expected in the month of September.
ADP said private sector employment rose by 154,000 jobs in September after climbing by a downwardly revised 175,000 in August.
Economists had expected employment to climb by about 170,000 jobs compared to the increase of 177,000 jobs originally reported for the previous month.
A separate report from the Commerce Department showed that the U.S. trade deficit unexpectedly widened in the month of August, as the value of imports rose by more than the value of exports.
The report said the trade deficit widened to $40.7 billion in August from $39.5 billion in July, while economists had expected the deficit to narrow to $39.0 billion.
At 10 am ET, the Institute for Supply Management is scheduled to release its report on activity in the service sector in the month of September.
The ISM’s non-manufacturing index is expected to rise to 52.9 in September from 51.4 in August, with a reading above 50 indicating growth in the service sector.
The Commerce Department is also scheduled to release its report on factory orders in the month of August at 10 am ET, with orders expected to dip by 0.2 percent. |
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| European Markets |
| European stocks fell after recent gains on Wednesday, as fears of the Brexit fallout, Fed rate uncertainty and fresh worries over possible monetary tightening by the European Central Bank sapped investors' risk appetite.
Disappointing regional data also weighed on the markets. While a measure of Eurozone private sector activity expanded at the weakest pace in twenty months in September, Eurozone retail sales declined for the first time in five months in August.
British service sector activity expanded for the second straight month in September, but at a slower pace than in the previous month. |
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| Asian markets |
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| USDCAD | USDEUR | USDGBP | USDJPY |  |  |  |  | | Please click on the images to view our interactive charts | |
| Asian stocks turned in a mixed performance on Wednesday, as hawkish comments from Federal Reserve officials and speculation that the European Central Bank may start unwinding its quantitative easing program offset gains by energy companies.
Japanese shares extended gains from the previous session to hit a 3-1/2-week high. The Nikkei 225 Index rose 83.59 points or half a percent to 16,819.24, its highest level since September 9th. The broader Topix index closed 0.57 percent higher at 1,347.81.
Exporters Panasonic, Canon, Toyota Motor, Honda and Nissan Motor posted notable gains as the yen weakened further against the dollar.
Hitachi soared 6.4 percent after reports that it plans to sell Hitachi Koki Co. and a portion of Hitachi Kokusai Electric. Asahi Group Holdings declined 1.7 percent on a Nikkei report that it plans to offer more than 500 billion yen or $4.87 billion for British brewer SABMiller's beer operations in five Eastern European countries.
Investors shrugged off the Nikkei services PMI report, which showed that Japan's services sector activity contracted at the fastest pace since April 2014 in September.
Australian shares retreated after the International Monetary Fund warned that the global recovery remains "weak and precarious.”
Economic reports painted a mixed picture, with the country's services sector contracting for a second consecutive month in September, raising fresh concerns about a broader slowdown in the economy, while Australian retail sales surged in August to hit a seven-month high.
The benchmark S&P/ASX 200 Index slid 31.10 points or 0.57 percent to 5,452.90, and the broader All Ordinaries index closed 32.90 points or 0.59 percent lower at 5,537.
Meanwhile, Hong Kong's Hang Seng index climbed 98.87 points or 0.42 percent to 23,788, as energy stocks benefited from an overnight surge in oil prices. Markets in mainland China remain closed all week. |
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| Currency and Commodities Markets |
| Crude oil futures for November delivery are climbing $0.92 to $49.61 a barrel after slipping $0.12 to $48.69 a barrel on Tuesday. Gold futures are trading currently at $1,275.90 an ounce, up $6.20 from the previous session’s close of $1,269.70 an ounce. On Tuesday, gold plunged $43.
On the currency front, the U.S. dollar is trading at 103.08 yen compared to the 102.90 yen it fetched at the close of New York trading on Tuesday. Against the euro, the dollar is valued at $1.1208 compared to yesterday’s $1.1204. |
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