Here are the most important events in the financial markets that every trader should know:
Global Equities Mixed
The Dow Jones Shanghai edged lower by 0.49 percent and Japan’s Nikkei 225 dipped 0.25 percent as the China services PMI data kept losses from hitting the levels of the significant decline in the United States. Meanwhile, the S&P/ASX All Australian 200 rallied by 0.44 percent.
At 7:01 AM ET today, stocks in Europe gained with the European benchmark Euro Stoxx 50 climbing by 0.36 percent, the German DAX surging 0.02 percent, the CAC 40 adding 0.55 percent, and the FTSE 100 soaring 0.52 percent.
US equities also gained slightly, as Dow futures inched higher by 0.27 percent, NASDAQ 100 futures advanced 0.34 percent, and S&P 500 futures rose 0.33 percent at 7:02 AM ET.
Caixin China Services PMI Strengthens
The Caixin China general services PMI grew at a faster than expected pace, even though the employment component post its first contraction since the month of August in 2013.
Regardless of this, the figures reflected that the most rapid economic growth for China in 11 months, muting concerns over China’s economic slowdown.
Oil Rebounds on Decline in Inventories
On Tuesday, the American Petroleum Institute stated that crude oil inventories dropped 4.3 million barrels at the end of the prior week. This information came as a surprise for market analysts who were expecting a build of 2.9 million barrels.
Investors will now focus on the weekly inventories report of the US Energy Information Administration today, with analysts anticipating a build of 3.5 million barrels to a fresh record high.Publication source