Post by huh on Sept 15, 2016 6:51:02 GMT -5
10 things you need to know before the opening bell
It's the eighth anniversary of the failure of Lehman Brothers. The Dow Jones Industrial Average crashed 500 points that day, and Business Insider's Henry Blodget summed it up by saying, "On the whole, given that one major brokerage firm went bankrupt and another rushed to sell itself to avoid collapse, a 500-point fall (-4.4%) isn't that bad."
The Bank of England kept policy on hold. The BOE held its key interest rate at a record low 0.25%, as expected. Additionally, the central bank raised its third quarter growth forecast to up 0.3% from up 0.1%. The British pound is unchanged at 1.3240 following the decision.
The Swiss Central Bank says the franc is "still significantly overvalued." The central bank held its target range for three-month Libor at -1.25% to -0.25%, as expected. The Swiss franc is little changed near .9735 per dollar.
Australia's jobs report missed big. The Australian economy lost a seasonally adjusted 3,900 jobs (versus expectations for an increase of 15,000) in August as the unemployment rate dipped to 5.6%. The Australian dollar is higher by 0.1% at .7475 versus the dollar.
Vancouver is taxing empty homes. The 2% tax aimed at secondary homes left empty year-round is the latest effort to slow down Vancouver's out-of-control housing market, CBC News reports.
Tesla is investigating a fatal crash that might be linked to Autopilot. The Associated Press reports that a dash cam shows the car crashing into a slow-moving truck, and an official interviewed by CCTV said the Autopilot feature was engaged at the time of the accident.
Apple says it's sold out of the initial batch of iPhone 7 Plus. The phone is sold out in all colors, and while customers won't be able to get the phone Friday, when it is officially released, they will still be able to order it online, Reuters says.
Stock markets around the world are mixed. In Asia, Japan's Nikkei (-1.3%) lagged while Hong Kong's Hang Seng (+0.6%) led. In Europe, Spain's IBEX (+0.3%) paces the advance. S&P 500 futures are up 6.50 points at 2,126.75.
Oracle reports after markets close. Analysts expect adjusted earnings of $0.60 a share on revenue of $8.70 billion, according to the Bloomberg consensus.
US economic data heavy. Empire Manufacturing, initial jobless claims, Philly Fed, and retail sales are all due out at 8:30 a.m. ET before industrial production and business inventories are released at 9:15 a.m. ET and 10 a.m. The US 10-year yield is unchanged at 1.70%.
www.businessinsider.com/opening-bell-september-15-2016-2016-9
It's the eighth anniversary of the failure of Lehman Brothers. The Dow Jones Industrial Average crashed 500 points that day, and Business Insider's Henry Blodget summed it up by saying, "On the whole, given that one major brokerage firm went bankrupt and another rushed to sell itself to avoid collapse, a 500-point fall (-4.4%) isn't that bad."
The Bank of England kept policy on hold. The BOE held its key interest rate at a record low 0.25%, as expected. Additionally, the central bank raised its third quarter growth forecast to up 0.3% from up 0.1%. The British pound is unchanged at 1.3240 following the decision.
The Swiss Central Bank says the franc is "still significantly overvalued." The central bank held its target range for three-month Libor at -1.25% to -0.25%, as expected. The Swiss franc is little changed near .9735 per dollar.
Australia's jobs report missed big. The Australian economy lost a seasonally adjusted 3,900 jobs (versus expectations for an increase of 15,000) in August as the unemployment rate dipped to 5.6%. The Australian dollar is higher by 0.1% at .7475 versus the dollar.
Vancouver is taxing empty homes. The 2% tax aimed at secondary homes left empty year-round is the latest effort to slow down Vancouver's out-of-control housing market, CBC News reports.
Tesla is investigating a fatal crash that might be linked to Autopilot. The Associated Press reports that a dash cam shows the car crashing into a slow-moving truck, and an official interviewed by CCTV said the Autopilot feature was engaged at the time of the accident.
Apple says it's sold out of the initial batch of iPhone 7 Plus. The phone is sold out in all colors, and while customers won't be able to get the phone Friday, when it is officially released, they will still be able to order it online, Reuters says.
Stock markets around the world are mixed. In Asia, Japan's Nikkei (-1.3%) lagged while Hong Kong's Hang Seng (+0.6%) led. In Europe, Spain's IBEX (+0.3%) paces the advance. S&P 500 futures are up 6.50 points at 2,126.75.
Oracle reports after markets close. Analysts expect adjusted earnings of $0.60 a share on revenue of $8.70 billion, according to the Bloomberg consensus.
US economic data heavy. Empire Manufacturing, initial jobless claims, Philly Fed, and retail sales are all due out at 8:30 a.m. ET before industrial production and business inventories are released at 9:15 a.m. ET and 10 a.m. The US 10-year yield is unchanged at 1.70%.
www.businessinsider.com/opening-bell-september-15-2016-2016-9
