Morning Wire — US Stock-Index Futures Down Sharply

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US index futures are down sharply this morning as investors express concern over last week’s lower-than-expected US job gains. Asian markets especially are worried that projected growth of US GDP is in danger. Also in Asia, China reported a higher-than-expected increase in consumer prices to 3.6%. Economists expect the Chinese government to ease current lending and banking restrictions.

At about 8:45 a.m. ET, Germany’s DAX is down -0.13% at 6,775.26 and France’s CAC 40 is up 0.19% at 3,319.81. In London, the FTSE 100 is up 0.35%, at 5,723.67.

In Asia, the Nikkei closed down -1.47% at 9,546.26. The Hang Seng index closed down -0.95 at 20,593.00 and Shanghai closed down -0.90% at 2,285.78.

Dow futures are down -0.93%, at 12,857.00. The Nasdaq is down -1.03%, at 2,725.50 and the S&P is down -1.08%, at 1,375.20.

In the currency markets, the US dollar is stronger against the euro and the British pound, and weaker versus the Japanese yen. The US dollar index is up 0.06% at 79.932.

In commodities, WTI and Brent crude are lower this morning, with WTI down -1.5% at $101.76/barrel and Brent is down -1.25% at $121.89/barrel. Gold is up 1.03% this morning, at $1,646.90/ounce.

Paul Ausick

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