Morning Wire — US Stock-Index Futures Nearly Flat

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US index futures are essentially flat this morning following a report that European manufacturing is slowing and that China’s factory output was lower for the fourth consecutive month. Rising crude prices are also weighing on equities. In Europe, the unexpected drop in PMI showed that German expansion is slowing and the major indexes are lower. In Asia, markets finished higher today, thanks to a weaker Japanese yen and some hopes that China would once again step on its economic accelerator to get manufacturing output back up.

At about 8:15 a.m. ET, Germany’s DAX is down -0.66% at 6,862.36 and France’s CAC 40 is down -0.31%, at 3,454.60. In London, the FTSE 100 is down -0.29%, at 5,911.14.

In Asia, the Hang Seng index closed up 0.33%, at 21,549.30 and the Nikkei index closed up 0.96%, at 9,554.00. The Shanghai exchange closed up 0.93%, at 2,403.59.

Dow futures are down -0.03%, at 12,941.00. The Nasdaq 100 is down -0.02%, at 2,590.50 and the S&P is down -0.08%, at 1,359.00.

In the currency markets, the US dollar is weaker against the euro and stronger against the British pound and the Japanese yen. The US dollar index is up 0.13% at 79.211.

In commodities, WTI and Brent crude are mixed this morning, with WTI down -0.22% at $106.02/barrel and Brent is up 0.17% at $121.87/barrel. Gold is down -0.02% this morning, at $1,758.20/ounce.

Paul Ausick

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