Metals Reverse, Stocks Rise on China,UK Data

Summary

Overnight markets saw a reversal in Metals and  a rise in Chinese Stocks on strong PMI out of China. In the UK, the Pound Sterling rallied on a record Mfg number in the face of Bexit Cassandras from 2 months ago. PMI jumped far higher than estimates, printing 53.3 with expectations in the 49 area. EU stocks rallied strongly lead by banks, Commodity shares did well with Glencore bouncing over 1%. Domestically,  S&P futures remain relatively flat as the market awaits the Aug jobs number made more important by Fed "Hawk" Fischer's tough talk in J-Hole last week. There are a slew of minor data releases today in preview to tomorrow's jobs number and players will likely be waching them closer than usual for tea leave clues on Jobs. Apple is upset, Elon Musk is caught in a web of "mistakes" as new cash crunches arise, and Chinese gaming rebounds.

If it is consumed in industry, it benefitted last night

-interactive charts HERE

- by Soren k.

In Focus: UK post Brexit thus Far

Gives momentum to PM Theresa's push ot use Executive orders to trigger article 50 and make the EU exit complete

 

Global News

 

Market News

Soren's WatchList

- list comprised of reader suggestions and markets traded

PRICECHANGE% CHG GC=F1,309.20-2.20-0.17% SI=F18.73+0.02+0.12% PL=F1,059.60+3.50+0.33% HG=F2.08+0.01+0.34% NG=F2.98-0.02-0.77% CL=F45.22-0.09-0.20% GLD124.78-0.25-0.20% USO10.36-0.37-3.45% 

On MarketSlant

Global Markets

Shanghai 3,063.31-22.19 (-0.72%)Nikkei 225 16,926.84+39.44 (0.23%)Hang Seng Index 23,162.34+185.46 (0.81%)TSEC 9,001.15-67.70 (-0.75%)FTSE 100 6,785.41+3.90 (0.06%)EURO STOXX 50 3,050.49+27.36 (0.91%)CAC 40 4,484.08+45.86 (1.03%)

 

Currencies

EUR/USD1.1150-0.0008 (-0.08%)USD/JPY103.6685+0.3605 (0.35%)GBP/USD1.3241+0.0109 (0.83%)USD/CAD1.3118+0.0007 (0.05%)USD/HKD7.7572+0.0007 (0.01%)USD/CNY6.6798+0.0011 (0.02%)AUD/USD0.7538+0.0019 (0.25%

 

Economic Calendar

DateTime (ET)StatisticForActualBriefing ForecastMarket ExpectsPriorRevised FromAug 298:30 AMPersonal IncomeJul0.4%0.4%0.4%0.3%0.2%Aug 298:30 AMPersonal SpendingJul0.3%0.2%0.3%0.5%0.4%Aug 298:30 AMCore PCE PricesJul0.1%0.1%0.1%0.1%--Aug 309:00 AMCase-Shiller 20-city IndexJun5.1%5.3%5.1%5.3%5.2%Aug 3010:00 AMConsumer ConfidenceAug101.197.597.096.797.3Aug 317:00 AMMBA Mortgage Index08/272.8%NANA-2.1%-Aug 318:15 AMADP Employment ChangeAug177K190K170K194K179KAug 319:45 AMChicago PMIAug51.554.054.555.8--Aug 3110:00 AMPending Home SalesJul1.3%0.7%0.7%-0.8%0.2%Aug 3110:30 AMCrude Inventories08/272.276MNANA2.501M-Sep 17:30 AMChallenger Job CutsAug-NANA-57.1%-Sep 18:30 AMInitial Claims08/27-267K265K261K-Sep 18:30 AMContinuing Claims08/20-NANA2145K-Sep 18:30 AMProductivity-Rev.Q2--0.6%-0.6%-0.5%-Sep 18:30 AMUnit Labor Costs - Rev.Q2-2.5%2.1%2.0%-Sep 110:00 AMConstruction SpendingJul-1.0%0.6%-0.6%-Sep 110:00 AMISM IndexAug-52.052.252.6-Sep 110:30 AMNatural Gas Inventories08/27-NANA11 bcf-Sep 12:00 PMAuto SalesAug-NANA5.16M-Sep 12:00 PMTruck SalesAug-NANA9.10M-Sep 28:30 AMNonfarm PayrollsAug-200K180K255K-Sep 28:30 AMNonfarm Private PayrollsAug-190K175K217K-Sep 28:30 AMUnemployment RateAug-4.9%4.8%4.9%-Sep 28:30 AMAverage Hourly EarningsAug-0.2%0.2%0.3%-Sep 28:30 AMHourly EarningsAug-NANA0.3%-Sep 28:30 AMAverage WorkweekAug-34.534.534.5-Sep 28:30 AMTrade BalanceJul--$40.0B-$43.0B-$44.5B-Sep 210:00 AMFactory OrdersJul-2.2%2.0%-1.5%-

 

Good Luck

Sorenk@marketslant.com

All  tips treated as confidential and rumour until we get  outside confirmation. We recommend using a proxy email account for sensitive information- SK

 

 

*Taurus Excretum=Bullshit in Latin

Read more by Soren K.Group