Stocks were trading higher this morning as fears of an imminent
invasion of Syria abated after the UK Parliament voted against
using force in Syria.
The US still has not made a decision on whether to attack. The
New York Times
today that America is prepared to do so despite waning
international support. According to Le Monde, French President
Francois Hollande reportedly said that France may strike as early
as Wednesday. Britain's Parliament voted against action in a
preliminary vote yesterday, and it will decide whether to get
involved at all next week.
As the threat of an imminent military strike ebbed, fear trades
such as gold and oil declined today. US stock futures are higher
this morning, but likely to record a loss for the week.
(INDEXDJX:.DJI) futures were up 0.13% to 14,853 while futures
contracts on the
(INDEXSP:.INX) rose 0.20% to 1,639.90.
(INDEXNASDAQ:.IXIC) futures gained 0.22% to 3,096.25.
Investors also have a rash of global economic reports to interpret
US personal income and consumer spending both rose 0.1% in July.
Later this morning, economists expect to see that final reading of
the August consumer sentiment index remains unchanged from the
preliminary reading of 80.
Japan just released some encouraging data that suggests that
Abenomics is on track. The most important point in the batch was
CPI, which is still tame despite radical anti-deflation measures.
Consumer prices were up 0.7% from a year earlier, the steepest rise
since Nov. 2008. However, excluding rising food and energy, prices
actually fell 0.1%. The unemployment rate unexpectedly fell to 3.8%
from 3.9%. July industrial production rose 0.2% after a 3.6% yearly
decline in June, missing estimates of a 1.9% rise. Manufacturing
PMI rose to 52.2 from 50.7. PMI readings over 50 signal expansion
in the sector. Household spending in July was softer than expected,
rising 0.1% after falling 0.4% in June.
Eurozone consumer prices for August rose 1.3% year-over-year and
the EU Commission's Economic Sentiment Index rose 2.7 points to
95.2. Italy's unemployment rate rose 0.2 percentage points in July
to 12.1%, matching the eurozone-wide rate, which was flat from
June. German retail sales fell 1.4% between June and July, missing
estimates of a 0.5% rise.
) prepares to sell its 45% stake in Verizon Wireless to
), reports are surfacing that
) is interested in evaluating Vodafone as an acquisition. Bloomberg
that AT&T would be less interested in Vodafone if it expands
into fixed-line or cable businesses.
) is reportedly interested in spinning off GE Capital's consumer
lending business. GE provides financing options such as
store-branded credit cards for
) and has 55 million customers.
(CRM) shares rose 8.75% in after-hours trading after it reported
better-than-expected earnings yesterday as sales rose 31%. Adjusted
EPS was $0.09 on revenue of $957.1 million.