Evening Headlines
Bloomberg:
- Stocks Rout Hits Asia After U.S. Slide, Yen Gains. An equities rout that wiped out this year’s gains for U.S. stocks spread to Asia Thursday as concerns mount that corporate profits and economic growth are peaking amid rising borrowing costs. The yen climbed on demand for haven assets, while Treasuries and the dollar held gains. Stock gauges in Japan and South Korea lost more than 2 percent, and futures sank in Asian markets yet to open, threatening to push the MSCI Asia Pacific Index deeper into a bear market. The S&P 500 Index erased this year’s gains following mixed earnings reports from companies such as AT&T and Texas Instruments. The benchmark extended its October rout to almost 9 percent, making it the worst month since February 2009, while the Nasdaq Composite Index fell into a correction. “The fear is palpable in stock markets at the moment,” Greg McKenna, a markets strategist at McKenna Macro, wrote in a note Thursday. “When folks are struggling to explain the driver of a move that means an obvious circuit breaker is also not in evidence. So this could get much worse before it gets better. Collapses happen after falls. That’s the danger.” Japan’s Topix index tumbled 2.9 percent and the Nikkei 225 Stock Average slumped 3.3 percent as of 9:20 a.m. in Tokyo. Australia’s S&P/ASX 200 Index fell 1.9 percent. South Korea’s Kospi index slid 2.2 percent. FTSE China A50 contracts lost 1.4 percent. Hong Kong Hang Seng Index futures lost 0.3 percent. S&P 500 futures rose 0.1 percent.
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Miami Herald:
Miami Herald:
Telegraph:
Night Trading
Earnings of Note
Company/Estimate
Before the Open:
Night Trading
- Asian equity indices are -2.5% to -1.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 91.75 +2.25 basis points.
- Asia Pacific Sovereign CDS Index 10.25 +.25 basis point.
- Bloomberg Emerging Markets Currency Index 66.48 -.02%.
- FTSE 100 futures -.73%.
- S&P 500 futures +.24%.
- NASDAQ 100 futures +.49%.
Earnings of Note
Company/Estimate
Before the Open:
- (AAN)/.76
- (ALK)/1.81
- (MO)/1.06
- (AAL)/1.13
- (BUD)/1.02
- (BWA)/.99
- (BMY)/.91
- (CELG)/2.23
- (CME)/1.43
- (CMC)/.43
- (COP)/1.19
- (DNKN)/.73
- (GPI)/2.33
- (HSY)/1.55
- (IP)/1.48
- (LEA)/4.01
- (MCK)/3.29
- (MRK)/1.14
- (NEM)/.19
- (ODFL)/1.96
- (PTEN)/-.12
- (PX)/1.70
- (RTN)/1.97
- (RCL)/3.96
- (SHW)/5.75
- (LUV)/1.08
- (SWK)/2.03
- (TSCO)/.87
- (TWTR)/.14
- (VLO)/1.97
After the Close:
- (AKS)/.23
- (GOOG)/10.69
- (AMZN)/3.09
- (BYD)/.26
- (CERN)/.63
- (CMG)/2.02
- (CY)/.38
- (DECK)/1.70
- (EXPE)/3.15
- (FSLR)/.40
- (GILD)/1.63
- (INTC)/1.15
- (MAT)/.22
- (MHK)/3.58
- (SYK)/1.68
- (WDC)/3.03
8:30 am EST
- Advance Goods Trade Balance for September is estimated at -$75.1B versus -$75.5B in August.
- Wholesale Inventories MoM for September is estimated to rise +.5% versus a +1.0% gain in August.
- Retail Inventories MoM for September.
- Durable Goods Orders for September is estimated to fall -1.5% versu sa +4.4% gain in August.
- Durables Ex Transports for September is estimated to rise +.4% versus unch. in August.
- Cap Goods Orders Non-Defense Ex-Air for September is estimated to rise +.5% versus a -.9% decline in August.
- Initial Jobless Claims for last week are estimated to rise to 215K versus 210K the prior week.
- Continuing Claims are estimated to rise to 1644K versus 1640K prior.
- Pending Home Sales MoM for September is estimated unch. versus a -1.8% decline in August.
- The Kansas City Fed Manufacturing Activity Index for October is estimated to rise to 14.0 versus 13.0 in September.
- None of note
Other Potential Market Movers
- The Fed's Mester speaking, ECB rate decision, ECB press conference, Germany IFO Business Climate Index, BTIG Biotech Healthcare Conference and the (ORCL) financial analyst meeting could also impact trading today.