- Asian stock indexes sank as investors focused on the U.S.
budget debate and China's selection of leaders.
- The Nikkei declined 1.51 percent; S&P/ASX 200 dropped
0.72 percent; Hang Seng plunged 2.41 percent; KOSPI fell 1.19
percent; the Shanghai Composite slipped 1.63 percent.
- Chinese industrial production grew 9.4 percent in October
from the previous year, a better rate of growth than the one seen
- Chinese retail sales surged 14 percent in October and were
greater than the 1.46 percent increase in September.
- European stock indexes climbed after strong earnings results
from Swiss Re and Hermes International. Look for increases in the
Vanguard MSCI Europe ETF (NYSEArca:VGK).
- U.S. stock futures advanced, but eyes were on jobless claims
and the ECB interest rate announcement.
- Analysts estimate that weekly jobless claims increased by
7,000 to 370,000 this week. They also estimated the trade deficit
increased to $45.4 billion from $44.2 billion due to a decrease
in exports mainly owing to higher oil prices.
No major earnings news affecting
All commodities news is as of 7 a.m. ET.
Gold and Silver Drop
- Gold declined 0.14 percent, or $2.47, to $1715.28. Expect a
decline in the SPDR Gold Shares physical bullion ETF
- Silver descended 0.26 percent, or $0.08, to $31.74. Expect
decreases in the iShares Silver Trust (NYSEArca:SLV).
WTI and Brent Oil Advance
- The December contract for WTI crude oil gained 1.03 percent,
or $0.87, to $85.31 per barrel.
- The December contract for Brent crude oil rallied 0.79
percent, or $0.84, to $107.66 per barrel.
- Expect growth in the United States Oil Fund (NYSEArca:USO)
and in the United States Brent Oil Fund (NYSEArca:BNO).
On Wednesday, Nov. 7, 2012, the top ETF in nominal inflows was
the SPDR S&P 500 (NYSEArca:SPY), with creations of $1.78
billion. The top ETF in nominal outflows was the SPDR S&P
MidCap 400 (NYSEArca:MDY), with redemptions of $112.71 million.
None as of yet today
None as of yet today
- International Trade - 8:30 a.m. ET
- Jobless Claims - 8:30 a.m. ET
◦ Housing Starts - 8:15 a.m.
◦ Merchandise Trade - 8:30 a.m.
◦ Unemployment - 1:45 a.m. ET
◦ Merchandise Trade - 2:00 a.m.
◦ Merchandise Trade - 2:45 a.m.
◦ Retail Sales - 5:00 a.m. ET
◦ BOE Announcement - 7:00 a.m.
◦ ECB Announcement - 7:45 a.m.
◦ Industrial Production - TBD
◦ Retail Sales - TBD
◦ Consumer Price Index - 8:45 p.m.
◦ Producer Price Index - 8:45 p.m.
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