Overnight Markets And News
Dec E-mini S&Ps (ESZ18 +0.03%) this morning are up +0.17% as the market looks to U.S. mid-term elections tomorrow. European stocks are up +0.36% and GBP/USD is up +0.13 % at a 2-week high on optimism a Brexit deal will soon be reached after a Sunday report from the London Times said that UK Prime Minister May had secured concessions from Brussels to let her keep all of the UK in a customs union with the European Union. Optimism over a potential U.S.-China trade deal receded after Chinese President Xi Jinping, speaking at a Shanghai trade show Sunday night, failed to outline any new proposals that would suggest there was an impending resolution to the U.S.-China trade conflict. Energy stocks are weaker with Dec WTI crude oil (CLZ18 -0.29%) down -0.33% to a 6-3/4 month low as fears of a global crude shortage ease. Renewed U.S. sanctions on Iran begin today, although the U.S. will allow eight countries to continue buying crude from Iran. Gains in European stocks were limited after the Eurozone Nov Sentix investor confidence fell -2.6 to a 2-year low of 8.8. Asian stocks settled lower: Japan -1.55%, Hong Kong -2.08%, China -0.41%, Taiwan -0.17%, Australia -0.53%, Singapore -1.79%, South Korea -0.91%, India -0.17%. Asian equity markets fell back as enthusiasm for an imminent U.S.-China trade deal declined after White House economic adviser Kudlow downplayed the potential for a quick deal and Chinese President Xi Jinping refrained from mentioning a deal in a speech he made on Sunday night.
The dollar index (DXY00 +0.05%) is up +0.06%. EUR/USD (^EURUSD -0.16%) is down -0.18%. USD/JPY (^USDJPY +0.06%) is up +0.05%.
Dec 10-year T-note prices (ZNZ18 +0-020) are up +3.5 ticks.
The Eurozone Nov Sentix investor confidence fell -2.6 to a 2-year low of 8.8, weaker than expectations of -1.6 to 9.8.
The UK Oct Markit/CIPS services PMI fell -1.7 to a 7-month low of 52.2, weaker than expectations of -0.6 to 53.3.
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