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Japan’s August Household Confidence 36.2 (expected 37.5; last 37.1)
Toyota resumed work at 12 of its 14 plants in Japan after a daylong stoppage caused by a system malfunction.
Some of the biggest state-owned banks in China are considering another cut to the deposit rate in an attempt to boost growth.
Troubled developer Country Garden issued more stock.Major European indices trade on a mostly lower note.
STOXX Europe 600: -0.2%,
Germany’s DAX: -0.4%,
U.K.’s FTSE 100: +0.2%,
France’s CAC 40: -0.4%,
Italy’s FTSE MIB: +0.1%,
Spain’s IBEX 35: -0.2%.Eurozone’s August Business and Consumer Survey 93.3 (expected 93.7; last 94.5)
Germany’s July Import Price Index -0.6% m/m (expected 0.0%; last -1.6%); -13.2% yr/yr (expected -12.9%; last -11.4%)
Italy’s August Consumer Confidence 106.5 (expected 105.6; last 106.7)
Business Confidence 97.8 (expected 98.0; last 99.1).
May Industrial Sales 0.4% m/m (expected -0.1%; last 1.6%); 1.3% yr/yr (expected 7.5%; last -0.5%)Spain’s August CPI 0.5% m/m (expected 0.4%; last 0.2%); 2.6% yr/yr, as expected (last 2.3%)
The EU is on track to import a record amount of liquid natural gas from Russia this year
U.K.’s July Mortgage Approvals 49,440 (expected 51,000; last 54,610),
July Mortgage Lending GBP230 mln (expected -GBP460 mln; last GBP110 mln).
July BoE Consumer Credit GBP1.191 bln (expected GBP1.300 bln; last GBP1.637 bln)British Foreign Secretary Cleverly said during his trip to Beijing that the U.K. is looking for a pragmatic relationship with China.
Texas Instruments (TXN 167.14, -3.55, -2.1%): downgraded to Underperform from Mkt Perform at Bernstein
Sunrun (RUN 15.80, +0.64, +4.2%): upgraded to Buy from Neutral at Citigroup
Patterson Companies (PDCO 31.40, -1.93, -5.8%): reports EPS in-line, revs in-line; reaffirms FY24 EPS guidance
Sunrun (RUN 15.80, +0.64, +4.2%): upgraded to Buy from Neutral at CitigroupThe ADP Employment Change showed 177,000 jobs were added in August (consensus 195,000) following a revised count of 371,000 in July (from 324,000).
Q2 GDP increased at an annual rate of 2.1% in the second estimate (consensus 2.4%), down from 2.4% in the preliminary estimate. The Q2 GDP Price Deflator dropped to 2.0% in the second estimate from 2.2% in the preliminary estimate.
The goods trade deficit widened to $91.2 billion in the advance report for July from a revised deficit of $88.8 billion (from $87.8 billion).
Retail inventories rose by 0.3% in the advance report for July from a revised 0.5% in the prior reading (from 0.7%).
Wholesale inventories fell 0.1% in advance report for July from a revised 0.7% decline in the prior reading (from 0.3%).
Treasury yields turned lower in response to the data.
The 2-yr note yield, at 4.90% just before the data, is down seven basis points from yesterday to 4.84%.
The 10-yr note yield, at 4.15% just before the release, is down two basis points from yesterday to 4.10%.S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +5.00.
Dow 34,890.37 37.70 0.11%
S&P 500 4,514.88 17.25 0.38%
Nasdaq 14,019.31 75.55 0.54%
VIX 13.87 -0.58 -4.01%
Gold 1,971.40 6.30 0.32%
Oil 81.64 0.48 0.59%
BITCOIN 27,591
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