Summary
Global stocks fall, US futures slide as Deutsche Bank trouble looms. Oil is higher on renewed talks of Opec freeze, despite Aramco saying it will not discuss cuts. Asian offices of US firms are cutting jobs: Tudor, BOA, Goldman and others on back of "slowing deal flow". Clinton leads in most polls by narrow margins going into tonights debate which is expected to garner huge ratings now seen since the Reagan debates. Rumors of Gennifer Flowers and Mark Cuban as cheerleaders in the front row are adding to the celebrification potential. Metals are mixed with only Gold holding its own. Gold legend Arnold Palmer died on Sunday.
Potential Market Movers
- Draghi speaks at 10AM- Deutsche Bank no doubt
- FOMC Tarullo talks at Yale at 11:45- look for trial balloons floated
- FOMC Kaplan speaks in San Antonio- more polling the markets through Open Mouth Operations
Silver & Gold
Markets diverge this morning. Today Gold is showing its safe haven status likely on Deutsche Bank concerns, while Silver, Platinum, and Copper are behaving according to their industial qualities in line with the China slowdown.
interactive chart HERE
Markets
Economic Calendar
DateTime (ET)StatisticForActualBriefing ForecastMarket ExpectsPriorRevised FromSep 2610:00 AMNew Home SalesAug-600K585K654K-Sep 279:00 AMCase-Shiller 20-city IndexJul-5.2%5.1%5.1%-Sep 2710:00 AMConsumer ConfidenceSep-NA98.0101.199.8Sep 287:00 AMMBA Mortgage Index09/24-NANA-7.3%-Sep 288:30 AMDurable OrdersAug--2.3%-1.9%4.4%-Sep 288:30 AMDurable Orders, Ex-TransportationAug--0.6%-0.4%1.5%-Sep 2810:30 AMCrude Inventories09/24-NANA-6.200M-Sep 298:30 AMGDP - Third EstimateQ2-1.3%1.3%1.1%-Sep 298:30 AMGDP Deflator - Third EstimateQ2-2.3%2.3%2.3%-Sep 298:30 AMInitial Claims09/24-257K259K252K-Sep 298:30 AMContinuing Claims09/17-NANA2113K-Sep 298:30 AMInternational Trade in GoodsAug-NANA-$59.3B-Sep 2910:00 AMPending Home SalesAug-0.7%1.0%1.3%-Sep 2910:30 AMNatural Gas Inventories09/24-NANA52 bcf-Sep 308:30 AMPersonal IncomeAug-0.2%0.2%0.4%-Sep 308:30 AMPersonal SpendingAug-0.3%0.2%0.3%-Sep 308:30 AMCore PCE PricesAug-0.2%0.2%0.1%-Sep 309:45 AMChicago PMISep-51.052.051.5-Read more by Soren K.Group
