US stocks are heading higher today as Japan and China released
upbeat indicators, but fears of intervention in Syria remain high.
Secretary of State John Kerry said that Bashar Assad could avert a
US-led strike if he hands over his chemical weapons, but expressed
that this is an extremely unlikely situation. In two days, the
Senate will vote on a resolution authorizing a limited attack on
With no major economic releases scheduled, stock futures are
(INDEXDJX:.DJI) futures were up 0.24% at 14,945. Futures contracts
(INDEXSP:.INX) rose 0.27% to 1,658.00 and
(INDEXNASDAQ:.IXIC) futures gained 0.48% to 3,144.50.
Japanese stocks surged today after a crop of great news for the
country. On Saturday, the International Olympic Committee awarded
the 2020 Summer Olympics to Tokyo. The Tokyo bid committee said
that hosting the games will bring 2.96 trillion yen into the
economy and create 150,000 jobs. The government will spend an
estimated 153.8 billion yen on new construction by 2020.
On the same day, the Cabinet Office reported that the Japanese
economy grew much faster than initially expected in the April-June
quarter. GDP was revised up to an annualized 3.8% from a
preliminary reading of 2.6%.
(INDEXNIKKEI:NI225) jumped 2.5% to a five-year high of 14,025 on
Monday. The yen also fell to 99.48 to the dollar.
China also released some positive figures. China's trade surplus
rose by $10.82 billion to $28.61 billion in August as exports rose
7.2%, up from 5.1% in July. Imports slowed, however. Inflation also
rose 2.6% year-over-year in August. The decline in producer prices
also slowed to 1.6%.
European indices are mostly lower, despite a Sentix report today
that investor confidence on the continent was positive for the
first time since 2011. Madrid was one of the other contenders for
the 2020 games. Today, Spain's
(INDEXDB:537M) index fell 0.74%.
Delta Air Lines
) rallied 4.8% in the pre-market as it will join the S&P 500
after Tuesday's market close. It will replace
), which will be taken private by Bain Capital.
) will offer $20 billion in corporate bonds to cover the $130
billion cost of buying
) stake in Verizon Wireless. This offering handily beats
) record $17 billion offering.
Today, the World Trade Organization cut its forecast for world
economic growth to 2.5% from 3.3% in 2013. Its prediction for 2014
was also cut to 4.5% from 5%. The details of its action will be
released in a report on Sept. 19.