Our great week that started out for the month of August took a turn for the worse yesterday as the DJIA lost 38.00 points and closed down at 10,636.38. DJIA futures are trading down another 0.3% and S&P futures are down 0.35%. In Europe, the FTSE is down 1.2%, the DAX is down 0.5%, and the CAC is down 0.26%. In Asia, Japan was down a harsh -2.1% and Hong Kong closed up 0.4%.
Nymex WTI crude is lower around $81.80 per barrel ahead of inventory data; Gold is higher above $1,194.00 per ounce.
Treasury bond prices were directionless with the yield on the 10-Year at 2.91% is and the yield on the 30-Year was 4.04%.
Wednesday morning’s major media headline snapshot from Reuters, WSJ, NYTimes, FT, Bloomberg, and more is available here.
These are today’s top economic data:
- 7:00 AM EST Weekly Mortgage Applications
- 7:30 AM EST Challenger Job Cuts Report
- 8:15 AM EST ADP National Employment Report (exp. +39,000)
- 10:00 AM EST July ISM Non-Manufacturing (exp. 53.1)
- 10:30 AM EST Weekly DOE Petroleum Inventory
At 10:00 AM EST Treasury will have its quarterly refunding announcement. Treasury Assistant Secretary Miller and Deputy Assistant Secretary Rutherford will host.
At 4:00 PM EST Treasury Secretary Geithner is in an economic panel discussion outlining the administration’s pro-growth agenda.
Major earnings today are as follows: morning: AGU, AFAM, ANR, AOL, ARJ, CAM, CNP, XEC, CLH, CGX, EP, GRMN, HI, OC, PCG, RL, PHM, Q, SIRI, TRK, TWX, UMC; afternoon: NDN, ADCT, ALNY, ANDE, ATML, ATW, BBND, CELL, CBOU, CENT, CLWR, DIVX, ENOC, ROCK, GLBL, SOLR, HIG, INAP, IPI, JACK, KND, MUR, NWSA, PRE, PRU, SONE, SD, SINA, TS, RIG, UNTD, WCAA.
Have a great trading day!
JON C. OGG
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