Work
With last week’s disappointing payroll numbers, it helpedgive some impetus to calls that US stocks are about to fall. Youinvestors are focusing on labor market data to assess thegrowth potential of the economy, while the bank’s policy makerscentral are evaluating the timing of reducing asset purchases. the number of vacanciesYesterday’s job market showed another record level of vacancies in July, as theemployers struggle to fill vacancies. This morning we will have weekly numbers ofclaims for unemployment insurance, which should continue with a downward trend
ECB
At 8:45 am Eastern time, the European Central Bank publishes its latest policy decisionmonetary policy, followed by a press conference with President Christine Lagarde 45minutes later. As in the United States, there is a firm focus at the moment of anyslowdown in the pace of asset purchases. If the bank signals any reduction inshopping, Lagarde will likely try to convince the markets that this is not thebeginning of end of the bank’s accommodative policy
China’s Problems
Crackdown on China’s tech sector continues with industry executivesinstructed to break their “lone focus” on profits by the country’s regulators. the southChina Morning Post reported that there will be a temporary freeze on approvals fornew online games, news that accelerated a stock sale that saw Tencent HoldingsLtd. finished the session 8.5% lower. Problems also continued for ChinaEvergrande Group, the most indebted developer in the world, which saw up to 11% of the price ofits shares fall due to fears of an increase in debt default
Market crash
Concern among global equity investors about prospects forgrowth and some nerves ahead of today’s ECB meeting mean there seems to befew reasons to increase risk exposure. Overnight, the MSCI Asia indexPacific fell 1%, while Japan’s Topix index closed down 0.7%. In Europe,the Stoxx 600 Index was down 0.4% at 6:50 am with cyclical companies under pressure. the futures ofS&P 500 pointed to a move lower at the open, the Treasury yield of10 years was at 1.326%, oil remained virtually unchanged and gold rose
Arriving
US weekly unemployment claims are at 9:30 am. the press conferenceof the ECB will also be at this time. The latest crude oil stock numbers areat 12:00. The US sells $24 billion in 30-year notes at 2 pm. There are 7 presidents andFed regional governors speaking today. Affirm Holdings Inc. and Dollarama Inc.among companies reporting results
Source:http://wintrademarkets.com/
