With CEO Annie Seelaus
The tone in the world equity market is firm this morning, as stocks overseas rallied led by the biggest jump (7.7%) in Japanese shares in almost seven years. US equity markets are following suit.
Overseas equity markets are higher for the second day in a row and futures signal that shares in the US should rebound as trading resumes following the Labor Day holiday (DJIA+277 and S&P +34.75).
Equities are down with the DJIA -168 and S&P -18.50. All eyes are on the payroll number this morning and investors look to this data that may bolster the case for the Federal Reserve to raise interest rates.
World equity markets are higher today but remain volatile. Credit is opening unchanged this morning with the Investment Grade Index 81.6/82.1 -.9 and the US Treasury note are little changed, at 2.18%.
US stocks tanked 2.8% yesterday on evidence that China’s economy continues to weaken on the manufacturing front. This morning, trading in Europe’s equities is mixed and is up stateside.
An ugly start for equities as concerns about global growth resurface, sending stocks into a tailspin and volatility soaring. The sell off was triggered by weak Chinese manufacturing numbers and snowballed from there.
Markets are opening up mixed this morning with equities trading up in Japan and down in Europe and stateside. Oil was up over 10% yesterday, the most in six years, and was last trading $47.15/bbl.
Global equities are up on news that China’s government resumed its intervention in the stock market to stabilize the market (Euro Stoxx up 2.98%, Nikkei +1.08%, Hang Seng +3.60%, DJIA Fut +168, S&P FUt +19.25).
After the ugly close in the US equity market yesterday, global equities are generally off less than 1% this morning. The Treasury market is down with the 30-year off 1 point at 2.848% and oil is trading unchanged.
After yesterday’s turmoil, the equity markets are better today with both European and Asian markets up around 4%. US equity futures are up big with DJIA +558 and S&P +66.25.
Stocks, Bonds & Beyond
With Founder and Chairman Rich Seelaus