Market Overview

Benzinga Market Primer, Wednesday August 15

Benzinga Market Primer, Wednesday August 15

U.S. stocks are flat to slightly lower in early Wednesday trading. European markets also trading lower on continued fears of economic contraction throughout the eurozone. The Dow Jones futures are down 6 points to 13,128; S&P futures are trading lower by 3points to 1400 and NASDAQ futures are down 2.8 to 2724.6.

News Around the World

Asia/Pacific Rim Markets

  • Shanghai exchanged closed at 2,118.94, down 23.58 points or 1.10 percent
  • Nikkei 225 Index closed virtually unchanged in light trading to 8,925, shedding 4.84 points.
  • Hang Seng Index fell 1.18 percent, losing 239.39 points to 20,052.29
  • China reported a slowdown by steelmakers putting a damper on future economic expansion.
  • Australia reported consumer confidence fell the most in five months dropping the S&P/ASX 200 Index down 0.3 percent.

European/UK Markets

  • The German DAX was trading at 6,945.26, down 28.23 points.
  • The French CAC was trading directionless to 3438.26 losing 12 points.
  • Stoxx Europe 600 dropped from its four month high as investors wait on U.S. data
  • FTSE 100 was trading lower around a 0.25 percent to 5.844.86 down 20.45 points
  • StandardCharter Bank agreed to pay a U.S. regulators $340 million settlement. The bank stock was trading up 5 percent during mid morning session.
  • BOE Leaves its key interest rate unchanged at 0.5 percent
  • UK employment reaches highest level since July-August 2008 Claims fell 59,000.

Commodities Summary

  • WTI crude oil futures were trading at $93.24 a barrel, down 18 cents.
  • Brent North Sea oil was trading up 12 cents to 114.16 a barrel.
  • Gold was trading at $1597.10 down $3, breaking the $1600 level.
  • Silver was off 2.1cents to $27.55 an ounce in listless trading.
  • Copper futures were trading at $3.343 losing 0.018 on the day

Currencies

  • EUR/USD 1.2334 up 0.0004
  • USD/JPY 78.93 up 0.15
  • GBP/USD 1.5691 up 0.0001
  • USD/CAD 0.9926 up 0.0013
  • AUD/USD 1.0474 don 0.0025

U.S. Economic Reports and News

  • 8:30 EST July CPI Consensus 0.2 percent last 0.2 percent
  • 8:30 EST July Core CPI consensus 0.2 percent last 0.0 percent
  • 8:30 EST Aug. Empire Manufacturing Survey forecast 5.0 last 7.4
  • 9:15 EST July Industrial Production forecast 1.0 percent, last 0.4 percent
  • 9:15 EST July Capacity Utilization consensus 79.4 percent last 78.9 percent
  • 10:00 EST Aug. NAHB Index consensus 35 last 35
  • 10:30 EST 08/11 Crude Inventories forecast N/A last -3.729 million barrels

Before the Bell

  • Abercrombie & Fitch (NYSE: ANF)
  • Deere (NYSE: DE)
  • Target (NYSE: TGT)

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