What you need to know before the open – 04/12
US markets saw a third day of losses yesterday, vindicating the assessment that investors have been keen to lock in some gains before a slew of key data over the second half of the week.
Most shares in Asia slumped in Wednesday trading as tapering fears saw investors cash in gains from recent rallies.
However, calls this morning suggest we could see a marginal bounce back in Europe today.
ETX Capital #MorningCall FTSE +2, DAX +10, CAC +3, IBEX -25, SP +0.5, DOW +8
— ETX Capital (@ETXCapital) December 4, 2013
With half an hour to go the FTSE100 is forecast to start +10 at 6542.
— David Jones (@DavidJones_IG) December 4, 2013
Key events:
- German Markit services PMI for November at 8.53am. Expected at 54.5 from 52.9.
- Eurozone Markit services PMI for November at 8.58am. Expected at 50.9 from 51.6.
- UK Markit services PMI for November at 9.28am. Expected at 62.0 from 62.5.
- Eurozone GDP (seasonally adjusted) for the third quarter at 10.00am. Expected at 0.1 per cent from 0.3 per cent.
- Eurozone retail sales for October at 10.00am. Expected at 0.0 per cent from -0.6 per cent.
- US MBA mortgage applications (29 November) at 12.00pm.
- US trade balance for October at 1.30pm. Expected at $-40bn from $-41.78bn.
- US ISM non-manufacturing PMI for November at 3.00pm. Expected at 55.0 from 55.4.
- US new home sales for September and October at 3.00pm. Expected: September at 427,000 from 421,000 and October at 432,000 from 421,000.