Post by huh on Oct 10, 2016 6:56:43 GMT -5
10 things you need to know before the opening bell
China's currency is the weakest it's been in over six years. The Chinese yuan hit 6.7040 per dollar following its resumption of trade after the Golden Week holiday, making for its lowest print versus the US dollar since September 2010.
The Mexican peso is surging. The peso, which has been thought to be tracking sentiment for Donald Trump's prospects of winning the US presidency, is up 1.7% at 18.9793 per dollar after a tumultuous week for the Republican nominee. A stronger peso has been viewed as a sign Trump, who has talked tough against Mexico on the campaign trail, is losing momentum.
German exports grew by the most since May 2010. Data from Germany's Federal Statistics Office showed that seasonally adjusted German exports rose 5.4% in August, making for their biggest increase in more than six years. The euro is shrugging off the news, down 0.3% at 1.1167 against the dollar.
Saudi Arabia's oil minister says OPEC needs to be careful not to "shock the market." "Prices have dropped too low and that has impacted investment," Khalid al-Falih, the Saudi energy minister, said while speaking at the World Energy Conference in Istanbul. "Many companies and countries are hurting ... We don't want to give the market the wrong signal and shock the market's prices." West Texas Intermediate crude oil is down 0.4% at $49.61 a barrel.
Jamie Dimon says Brexit makes the euro's collapse "5 times more likely." JPMorgan's CEO believes a British exit from the European Union will create "years of uncertainty" but will not be not a disaster.
Deutsche Bank is sliding. Shares of the investment bank have rallied off their opening lows but remain down 0.6% in Germany as a deal with the US Department of Justice over misselling mortgage-backed securities has yet to come to fruition, Reuters reports.
Noble Group is selling its North American energy distribution unit to Calpine. The $1.05 billion deal gets Noble closer to its goal of raising $2 billion and cutting debt, Reuters reports.
Tesla has a new product in the works. On Sunday, Tesla CEO Elon Musk announced on Twitter that a new product "unexpected by most" would be announced on October 17, just 11 days before the SolarCity/Tesla solar roof unveiling.
Samsung has reportedly stopped production of its Note 7. The temporary production halt, reported by the South Korean news agency Yonhap, citing a source, comes after five reports surfaced suggesting replacement Galaxy Note 7 devices remained plagued by the same faulty battery problem that occurred in the original device.
Stock markets around the world are mostly higher. China's Shanghai Composite (+1.5%) outperformed in Asia, and Germany's DAX (+0.4%) leads the gains in Europe. S&P 500 futures are down 2.00 points at 2,154.50.
The US Treasury market is closed in observance of Columbus Day. Additionally, US economic data is absent from the calendar.
www.businessinsider.com/opening-bell-october-10-2016-2016-10
(hmm, no ad blocker today. [shrug])
China's currency is the weakest it's been in over six years. The Chinese yuan hit 6.7040 per dollar following its resumption of trade after the Golden Week holiday, making for its lowest print versus the US dollar since September 2010.
The Mexican peso is surging. The peso, which has been thought to be tracking sentiment for Donald Trump's prospects of winning the US presidency, is up 1.7% at 18.9793 per dollar after a tumultuous week for the Republican nominee. A stronger peso has been viewed as a sign Trump, who has talked tough against Mexico on the campaign trail, is losing momentum.
German exports grew by the most since May 2010. Data from Germany's Federal Statistics Office showed that seasonally adjusted German exports rose 5.4% in August, making for their biggest increase in more than six years. The euro is shrugging off the news, down 0.3% at 1.1167 against the dollar.
Saudi Arabia's oil minister says OPEC needs to be careful not to "shock the market." "Prices have dropped too low and that has impacted investment," Khalid al-Falih, the Saudi energy minister, said while speaking at the World Energy Conference in Istanbul. "Many companies and countries are hurting ... We don't want to give the market the wrong signal and shock the market's prices." West Texas Intermediate crude oil is down 0.4% at $49.61 a barrel.
Jamie Dimon says Brexit makes the euro's collapse "5 times more likely." JPMorgan's CEO believes a British exit from the European Union will create "years of uncertainty" but will not be not a disaster.
Deutsche Bank is sliding. Shares of the investment bank have rallied off their opening lows but remain down 0.6% in Germany as a deal with the US Department of Justice over misselling mortgage-backed securities has yet to come to fruition, Reuters reports.
Noble Group is selling its North American energy distribution unit to Calpine. The $1.05 billion deal gets Noble closer to its goal of raising $2 billion and cutting debt, Reuters reports.
Tesla has a new product in the works. On Sunday, Tesla CEO Elon Musk announced on Twitter that a new product "unexpected by most" would be announced on October 17, just 11 days before the SolarCity/Tesla solar roof unveiling.
Samsung has reportedly stopped production of its Note 7. The temporary production halt, reported by the South Korean news agency Yonhap, citing a source, comes after five reports surfaced suggesting replacement Galaxy Note 7 devices remained plagued by the same faulty battery problem that occurred in the original device.
Stock markets around the world are mostly higher. China's Shanghai Composite (+1.5%) outperformed in Asia, and Germany's DAX (+0.4%) leads the gains in Europe. S&P 500 futures are down 2.00 points at 2,154.50.
The US Treasury market is closed in observance of Columbus Day. Additionally, US economic data is absent from the calendar.
www.businessinsider.com/opening-bell-october-10-2016-2016-10
(hmm, no ad blocker today. [shrug])
