- Asian markets were mostly lower in overnight trading but the Shanghai Composite climbed 1.02 percent to its highest level in five-weeks. Europe is rallying like wild and U.S. futures are significantly higher.
- All eyes are on July's employment report which is due out 8:30 a.m. ET. Expectations are for nonfarm payrolls to increase by 100,000 and for the unemployment rate to hold steady at 8.2 percent.
- Yields on Spanish two-year bonds are falling this morning. This comes after European Central Bank president Mario Draghi said the ECB was looking to target the short end of the yield curve on sovereign debt.
- In earnings news, Procter & Gamble reported core earnings of $0.82 per share. Meanwhile, Viacom reported adjusted earnings of $0.97 per share, on revenue of $3.24 billion which is shy of expectations.
- Linkedin beat revenue expectations when it reported earnings after the bell yesterday. The company posted earnings of $0.16 per share, on revenue of $228.2 million. Linkedin also increased full-year 2012 revenue expectations to between $915 - $925 million.
- BHP Billiton took a $2.84 billion writedown on assets it acquired from Chesapeake Energy Corp. and a $450 million writedown on its Australian nickel assets.
- Chinese non-manufacturing PMI fell to 55.6 in July, from 56.7 in June, but stayed above the contractionary level of 50. There is concern that the slowdown in China's exports is spreading to the services sector.
- The ISM non-manufacturing index for July will be released at 10 a.m. ET. Consensus is for the composite index level is expected to rise to 52.
- Eurozone composite PMI inched higher to 46.5 in July, from 46.4 in June, but stayed below the contractionary reading of 50.
- Eurozone retail sales climbed for the second straight month in June. The rise in retail sales is however unlikely to be maintained as unemployment rises and consumer confidence declines.
没有评论:
发表评论