- European indices traded mostly lower after the open despite stronger than expected macro readings from China
- Eurozone inflation data and US home sales in the macro spotlight
- Results from Wall Street's very large non-financial companies - watch out for Netflix (NFLX.US) and Tesla (TSLA.US)
- Markets watch closely for escalation in the Middle East after the tragedy in Al-Ahli hospital
European index futures opened lower today as global stock market sentiment weakened slightly again following concerns of a war escalation in the Middle East following the dramatic balance of the shelling of the Al-Ahli hospital in the Gaza Strip. Oil prices reacted with a rise (also following the API report released yesterday, which showed a much larger-than-expected drop in inventories), with the VIX index posting modest gains today.
Volatility on indices may also be elevated today ahead of the US open as results will be presented by large companies including Morgan Stanley and Procter&Gamble, as well as the largest regional bank holding company in the US, US Bancorp. However, it is likely to be the situation in the Middle East that will affect the market after Biden canceled a trip to Palestine, where he was also scheduled to meet with Islamic State and Palestinian representatives. Macro data from China surprised on the upside from both GDP and retail sales but failed to improve stock market sentiment.
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11:00 - Eurozone, CPI inflation for September y/y: Expected: 4.3% Previously: 4.3% (0.3% m/m vs. 0.5% previously)
- Core inflation. Expected: 4.5% Previously: 4,5%
14:30 - US, housing starts. 1.38 million vs. 1.28 million previously (7.8% m.m. increase vs. -11.3% m.m. decrease previously)
- Building permits: 1.45 million vs. 1.54 million previous (5.7% decrease vs. 6.8% increase previous)
16:30 - Oil inventories according to EIA. Expectations: -0.55 million decrease vs. 10.1 million increase previously
- Gasoline inventories. Expectations: 0.1 million decrease vs -1.3 million decrease previously
- Distillate inventories. Expectations: 1 million sapdek vs 1.8 million decrease previously
Speeches by central bankers
- 09:00 - Riksbank Thedeen
- 09:30 - ECB Edersen
- 13:00 - Riksbank Floden
- 18:00 - Fed Waller
- 18:30 - Fed Williams
- 19:00 - Fed Bowman, Barkin
- 21:15 - Fed Harker
Today's most important financial reports from Wall Street companies
- ASML (ASML.US) - before the market opens
- Procter&Gabmle (PG.US) - before the market opens
- Morgan Stanley (MS.US) - before the market opens
- US Bancorp (USB.US) - before the market opened
- Tesla (TSLA.US) - after the market close
- Netflix (NFLX.US) - after the market close
- Lam Research (LAM.US) - after market close
- Las Vegas Sands (LVS.US) - after market close
- Alcoa Corp (AA.US) - after market close
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