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US Futures are Higher on News That the Senate Passed a 2018 Budget Resolution

US Futures are higher on news that the Senate passed a 2018 budget resolution. With a 51-49 vote, the Senate approved a budget that will now have to be reconciled with the House’s version.  The passage of the budget is viewed as a key step toward tax reform.  Treasury yields are higher on the news as the FOMC has not accounted for tax reform in their current projections.  At 10am, the market will get a reading on September home sales, which are expected to fall slightly to 5.3M units.  European shares are higher, led by banks and materials stocks, on positive earnings results.  Asian shares closed higher despite warnings on Thursday from a Chinese Central Governor’s warning of too much optimism leading to sharp declines in asset prices.

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30 Hits

US Futures are Lower After Another Record-Setting Day

US Futures are lower after another record-setting day.  The Dow closed above 23,000 yesterday for the first time led by strong results from IBM.  Futures today are pointing to a lower opening on the 30th anniversary of “Black Monday.”  In economic data, weekly jobless claims fell by 22K to 222K, marking the lowest jobless claims data since 1973, according to Bloomberg.  The Philadelphia Fed reported that their manufacturing index rose to 27.9 in October, well above the estimate of 22.  Prices paid also rose more than expected to 38.1 from 34.4.  European shares are lower on mixed earnings result.  Asian shares closed mixed as China’s 3Q GDP growth of 6.8% YOY failed to excite investors.

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24 Hits

US Futures are Trading Higher Despite Weaker Housing Starts

US Futures are trading higher despite weaker housing starts.  September housing starts declined for the 3rd month in a row to a 1.127M annualized pace, lower than the estimates of 1.17M.  Housing permits also disappointed at 1.215M against estimates of 1.238M.  Later today the market will get clarity around the data that the Fed considered in their September meeting when the Fed’s Beige book is released at 2pm.  European shares are trading higher on better earnings.  Asian shares closed mostly higher on the commencement of the 19th National  Congress of the Communist Party of China.  President Xi Jinping highlighted China’s past achievements and the challenges of the future.

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23 Hits

US Futures are Flat as Investors Digest Earnings and Economic Data

US Futures are flat as investors digest earnings and economic data.  The Labor Department reported that September import and export prices came in higher than expected, rising 0.5% m/m and 0.8% m/m, respectively.  The higher import prices are likely due to higher oil and food costs.  The Federal Reserve’s report on Industrial Production showed an increase of 0.3% m/m in September.  European shares are slightly higher.  Two ECB members will speak later today in Europe.  Asian shares closed higher for the 11th day in a row led by Japanese shares.

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34 Hits

US Futures are Slightly Higher as Earnings Season Kicks Off

US Futures are slightly higher as earnings season kicks off.  S&P 500 earnings are expected to grow 4.8% year-over-year in Q3.  The October Empire Manufacturing Survey came at 30.2, higher than the average estimate of 20.0.  European shares are being led higher by material stocks after China trade data.  Asian shares closed mostly higher as investors digested higher inflation data in China.

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30 Hits

US Futures Rose and Yields Fell as Economic Data was less than Anticipated

US futures rose and yields fell as economic data was less than anticipated.  September month over month CPI rose 0.5%, slightly below expectations of an increase of 0.6%.  Retail sales for September rose 1.6%, below the 1.7% expectation.  Lower inflation and retail sales gave the market hope for a slower Fed normalization.  The market will get readings on business inventories and consumer sentiment at 10 am.  European shares are mixed as speculation that the ECB will reduce monthly bond purchases from 60B to 30B euros in January.  Asian shares closed mostly higher after strong earnings from Samsung and China trade data was released.

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34 Hits

US Futures are Lower After Muted Response to Data

US Futures are lower after muted response to data.  First time claims for unemployment insurance came in at 243K, below the consensus estimate of 252K, as the market rebounded from the hurricane related data points.  The Bureau of Labor Statistics reported that producer prices rose 0.4% in September above the expectations for a 0.2% rise.  Producer prices, ex- food and energy, also came in higher than expected at 0.4% vs. expectations of 0.2%.  The big banks have begun reporting earnings with earnings and revenue beating expectations for both JPM and C.  European shares are mixed as Brexit discussions have come to a halt.  Asian shares closed mostly higher led by the Nikkei 225 touching a 21-year high.

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33 Hits

US Futures are Slightly Lower as Weekly Mortgage Applications Fall on Higher Rates

US Futures are slightly lower as weekly mortgage applications fall on higher rates.  The Mortgage Bankers Association announced that mortgage applications for the week of 10/6 saw applications fall by 2.1% on weakness in refinance activity as rates creep higher.  At 10 am, the market will get data on August job openings when the latest JOLTS report is released.  Expectations are for job openings to fall slightly to 6.16M in August.  At 2 pm, the FOMC will release the minutes from their September 20th meeting and new insights are not expected from the release.  Markets are currently pricing in a 92% chance of a rate hike in December.  European shares are mostly lower as political uncertainty continues.  Asian shares closed mostly higher.

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49 Hits

US Futures are Higher as the Market Awaits Comments From Two Fed Presidents

US Futures are higher as the market awaits comments from two Fed Presidents.   Minneapolis Fed President Neel Kashkari and Dallas Fed President Robert Kaplan will both speak later today.  The market continues to look for clues on the probability of future rate hikes.  The NFIB released the September Small Business Optimism report this morning that came in below estimates at 103.  Weakness was broad in sales expectations and not limited to hurricane ravaged states.  European shares are flat.  Spain’s IBEX slumped by about 1%.  The Catalan parliament is meeting today to consider a declaration of independence.  Asian shares closed mostly higher.

 

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57 Hits

US Futures are Higher as Volatility Remains Low

US Futures are higher as volatility remains low.  Equity markets are open today but bond markets are closed in observation of Columbus Day.  This week will kick off earnings season with some of the largest banks set to report earnings on Thursday and Friday.  European shares are mixed after the ECB stress test results showed European banks are managing interest rate risk well.  Asian shares closed mostly higher despite a lower than expected Caixin services PMI in China.

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53 Hits

US Futures are Lower Following the Release of September's Non-Farm Payroll Data

US Futures are lower following the release of September’s non-farm payroll data. September payrolls dropped by 33K, below the expectations of an increase of 80K.  The hurricanes had a significant impact on these numbers so too much weight shouldn’t be placed on this one month of data.  July and August non-farm payrolls were also revised lower by a combined 55K.  Rates rose across the board on the higher than expected rise in average hourly earnings of 0.5%, above the consensus of 0.3%.  Speculation that the Fed will raise rates in December gained traction.  The unemployment rate fell to 4.2% from 4.4%.  European shares were mostly unchanged as the markets absorb the US data and currency fluctuations.  Asian markets closed higher on signs of global economic strength.

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66 Hits

US Futures are Trading Higher as Economic Data was Mostly In-Line With Estimates

US Futures are trading higher as economic data was mostly in-line with estimates.  The August trade balance showed a deficit of $42.4B vs expectations of a deficit of 42.5B.  Jobless claims for the week of September 30th came in at 260k vs a consensus estimate of 265K.  Factory orders for August will be released at 10 am.  European shares are mixed as the ECB minutes failed to excite the markets.  The ECB minutes stated that while substantial policy support is still needed, conditions are falling into place that may provide the opportunity to scale back net asset purchases.  The ECB debated over a longer time-frame of smaller purchases and a shorter time-frame of larger purchases.  In Asia, shares were mixed for open markets.  China, South Korea and Hong Kong were closed for public holidays.

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73 Hits

US Markets Take a Breather as Futures Edge Slightly Lower

US markets take a breather as futures edge slightly lower.  In economic data, the ADP employment report for September showed that private sector jobs grew by 135K.  August was revised lower by 7K to 228K.  The Mortgage Bankers Association reported that mortgage applications dropped 0.4% last week.  The markets will closely follow remarks by Fed Speaker Janet Yellen as she is due to deliver the opening remarks at a conference in St. Louis later today.  European shares are mostly lower, led by retailers, since euro zone sales data was weak.  Asian shares closed mostly higher, while markets in China and South Korea remained closed for holidays.

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75 Hits

US Futures are Higher, Looking to Continue the Trend of Record Highs

US futures are higher, looking to continue the trend of record highs.  On Monday, most US markets closed at record highs as the low volatility rally continued.  Motor vehicle sales will be reported today and are expected to improve for September.  Germany’s stock exchanges are closed for a national holiday and the rest of Europe’s trading is near unchanged.  The exception is the Spanish IBEX, which remains under pressure from uncertainty around Catalonia.  Asian shares closed mostly higher after being closed on Monday.

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79 Hits

US Futures are Slightly Higher Despite a Mass Shooting in Las Vegas Overnight

US futures are slightly higher despite a mass shooting in Las Vegas overnight.  Sadly, more than 50 people are confirmed dead and over 200 injured after a gunman opened fire on a country music concert in Las Vegas on Sunday evening.  US stocks continue to shrug off negative headlines as the DJIA closed Friday with positive returns for its eighth quarter in a row.  Later today, economic data being reported will include PMI manufacturing, ISM manufacturing and construction spending.  Most European shares are higher with the exception of Spain.  The Catalonia referendum was in favor of independence from Spain and clashes with police resulted in many people being injured as they went out to vote.  Markets in China, India and South Korea were closed on Monday.  The Japanese Nikkei closed higher on improving business confidence.

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74 Hits

US Futures are Trading Mostly Flat This Morning on the Last Trading day of the Quarter

US futures are trading mostly flat this morning on the last trading day of the quarter.  So far this quarter, the S&P is up over 3% and the Dow is up close to 5%.  Later this morning we will get the Chicago PMI for September along with consumer sentiment.  Markets in Asia closed mostly higher led by the Hang Seng and European markets are trading higher led by the DAX.  

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77 Hits

US Futures are Slightly Lower This Morning as Investors Weighed Trump's Tax Plan

US futures are slightly lower this morning as investors weighed Trump’s tax plan.  Markets traded higher in the previous session as investors were optimistic about the new tax plan. However, some of that excitement seems to have waned as  questions arise as to how it will be implemented.  In economic data, the final read on second quarter GDP showed a 3.1% increase compared to estimates of 3% and weekly jobless claims came in higher than expected.  Markets in Asia closed mostly lower led by the Hang Seng and European markets are trading mixed with the FTSE lower while the DAX is higher.

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88 Hits

US Futures are Slightly Higher as the Market Awaits Details on President Trump's Tax Proposal

US futures are slightly higher as the market awaits details on President Trump’s tax proposal.  President Trump is expected to discuss details of his tax reform proposal at a speech in Indianapolis later today.  A slightly hawkish speech delivered by Janet Yellen yesterday has put pressure on bond prices, causing yields to rise. In economic news, August new orders for durable goods came in above expectations, rising 1.7%, led by non-core capital goods.  European shares are higher on optimism around the proposed merger in the rail industry between Siemens and Alstom.  Asian shares closed mixed.

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76 Hits

US Futures are Slightly Lower as Markets Look to Bounce Back Following a Sell-Off led by Tech Stocks

US futures are slightly lower as markets look to bounce back following a sell-off led by tech stocks.  Geopolitical tensions in North Korea continue to loom over global markets after North Korea’s Foreign minister said President Trump’s tweet was a declaration of war.  Investors will also look ahead to economic data this morning which include the flash services PMI, new home sales and consumer confidence.  Markets in Asia closed mostly lower led by the Nikkei and European markets are trading slightly higher with the DAX leading the way.    

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69 Hits

US Futures are Lower This Morning as Investors Weighed the Elections in Germany

US futures are lower this morning as investors weighed the elections in Germany.  Angela Merkel’s party will be the largest parliamentary group following the election but they will have less of a majority than expected.  Merkel’s party won 33% of the vote but that is down from 41.5% in 2013.  Investors will also be looking to see if the Obamacare replacement bill will gain any ground following revisions.  Asian markets closed mostly lower with the Hang Seng and the Shanghai indices closing lower while the Nikkei closed up.  European markets are trading mixed with the DAX higher but the CAC and FTSE  lower.    

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98 Hits

US Futures are Lower This Morning After Geopolitical Tensions Rose With North Korea

US futures are lower this morning after geopolitical tensions rose with North Korea.  The North Korean regime responded to President Trump’s UN speech with a warning of the “highest level of hardline countermeasure in history”.  Markets in Asia closed lower on the back of the threats from North Korea.  European markets are trading mixed with the CAC higher while the DAX is slightly lower.  Later this morning we will get PMI data.  

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101 Hits

US Futures are Slightly Lower as Markets Continue to React to the Fed's Statements From Yesterday

US futures are slightly lower as markets continue to react to the Fed’s statements from yesterday.  The Fed announced it will begin to unwind its balance sheet beginning in October and left open the possibility of one more interest rate hike this year.  In economic data, weekly jobless claims came in at 259,000 compared to estimates of 300,000 and the Philadelphia Fed said its manufacturing index came in at 23.  Markets in Asia closed mixed with the Shanghai index closing lower while the Nikkei inched higher.  European markets are trading mixed as the CAC leads the way higher while the FTSE is down slightly.  

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79 Hits

US Futures are Mixed This Morning as the Fed's Two-Day Meeting Comes to a Close

US futures are mixed this morning as the Fed’s two-day meeting comes to a close.  Investors are expecting the Fed to announce its plans to unwind its large balance sheet.  No major economic data was released this morning and later this morning we will get existing home sales.  Oil is trading higher with brent and crude up 1% each in early trade.  Markets in Asia closed higher led by the Shanghai index.  European markets are trading mixed as traders there await the announcement from the Fed.   

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99 Hits

US Futures are Higher This Morning as the Fed Begins Their Two Day Meeting

US futures are higher this morning as the Fed begins their two day meeting.  Investors will be looking to see if the FOMC will begin winding down its large balance sheet.  In economic data, US housing starts came in at 1.18 million compared to estimates of 1.175 million and import prices rose 0.6% compared to estimates of a 0.4% rise.  Markets in Asia closed mixed with most indices closing down with the exception of the Nikkei which rose on the back of a weaker yen.  European markets are trading mixed with the FTSE higher and the DAX down slightly.                                                                         

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92 Hits

US Futures are Higher This Morning as Markets Look to Reach new All-Time Highs

US futures are higher this morning as markets look to reach new all-time highs.  Economic data due out later today includes the NAHB home builders survey.  The market will look ahead to Wednesday’s announcement from the FOMC following their two day meeting.  Investors will be looking for clues as to when the Fed will tighten more and reduce their $4.5 trillion balance sheet.  Asian markets closed higher led by the Hang Seng and European markets are trading higher led by the FTSE.        

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84 Hits

US Futures are Mixed This Morning as Investors Weighed Economic Data and Geopolitical Tensions

US futures are mixed this morning as investors weighed economic data and geopolitical tensions.  Geopolitical tensions rose again as North Korea fired another missile over Japan yesterday.  Japan’s prime minister has asked the United Nations to act on this threat.  In economic data, retail sales fell 0.2% compared to estimates of a 0.1% rise and the Empire State manufacturing index beat expectations.  Later today we will get consumer sentiment data.  Markets in Europe are trading lower led by the FTSE as reports of a London Tube explosion, which is being treated as a terror attack, weighed on sentiment.  Asian markets closed mixed with the Shanghai index closing lower while the Nikkei closed higher.

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87 Hits

US Futures are Lower This Morning Following Inflation Data

US futures are lower this morning following inflation data.  Markets are reacting negatively to data that showed CPI coming in at a 0.4% gain compared to estimates of a 0.3% gain.  In other economic data, weekly jobless claims came in at 284,000 compared to estimates of 300,000.  Oil is continuing its move higher with crude oil trading above $50 a barrel as global oil demand estimates rose.  Asian markets closed lower led by the Shanghai index after weaker than expected economic data out of China.  Markets in Europe are trading lower led by the FTSE.       

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92 Hits

US Futures are Slightly Lower This Morning as the Two Day Rally Slows Down

US futures are slightly lower this morning as the two day rally slows down.  All 3 major indices are trading around all-time highs following this week’s two day rally.  In economic data, mortgage applications rose 10% and PPI rose just 0.2% which was below estimates.  Markets in Asia closed mostly higher led by the Nikkei.  European markets are trading mixed with the FTSE lower while the DAX and the CAC are trading slightly higher.        

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93 Hits

US Futures are Higher This Morning as Investors Look to Continue Yesterday's Rally

US futures are higher this morning as investors look to continue yesterday’s rally.  All 3 major indices closed sharply higher after the damages from Hurricane Irma seems to be much less than expected and geopolitical concerns out of North Korea eased.  Investors will be looking ahead to Apple’s much expected conference where they are expected to introduce the iPhone X.  Markets in Asia closed mostly higher led by the Nikkei.  European markets are trading mixed with the DAX and the CAC trading higher while the FTSE is down.

 

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103 Hits

United Asset Strategies is On Board to Help Raise Funds for Hurricane Irma Through Tim Duncan's U.S. Virgin Island Relief Mission

United Asset Strategies is onboard to help raise funds for Hurricane Irma through Tim Duncan’s U.S. Virgin Island Relief Mission.

 Lee DeLorenzo, CFP®, CPWA®, President of United Asset Strategies, Inc. (UASI), a wealth management firm based in Garden City, NY, has pledged to raise funds for Spurs legend Duncan’s Virgin Island Relief Fund.  DeLorenzo will match donations from UASI employees who donate money to this worthy cause.

 “I’ll never forget the long-lasting effects from Hurricane Hugo on my friends and business associates on St. Croix and it is very concerning to know there will be so much suffering coming for the US Territories over the coming months” says DeLorenzo.  She continued, “When I first saw the news about Tim Duncan’s “Don’t Forget About the Islands” efforts on the news, I knew this was a mission I wanted to join!”

  According to reports online, Duncan said he was donating $250,000 to the storm relief efforts in the islands and pledged to match other donations up to $1 million.  The U.S. Virgin Islands, Duncan’s birthplace and where he grew up, was so badly damaged by the Category 5 storm that Duncan took to The Player’s Tribune to ask for help.  Duncan set up the relief fund at https://www.youcaring.com/21usvirginislandrelieffund-942738.

 For more information about Lee DeLorenzo, CFP®, CPWA® and UASI, please call 516-222-0021 or visit www.unitedasset.com.

 

 

 

 

 

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122 Hits

US Futures are Higher This Morning as Damage From Hurricane Irma Seems to be Much Less Thank Initially Expected

US futures are higher this morning as damage from Hurricane Irma seem to be much less than initially expected.  While the damage from Irma is still significant, it was just downgraded to a Category 1 storm and the damage was significantly less than some had expected.  No major economic data is due out today.  Markets in Asia closed higher led by the Nikkei.  European markets are trading higher led by the DAX.

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70 Hits

US Futures are Lower This Morning Ahead of the Weekend as Investors are Cautious with Hurricane Irma Moving Towards the US

US futures are lower this morning ahead of the weekend as investors are cautious with Hurricane Irma moving towards the US.  Irma has already caused damage to a few of the Caribbean islands and it is on track to hit Florida over the weekend.  No major economic data was released this morning.  Later today we will get data for wholesale trade and consumer credit.  Markets in Asia closed mostly lower led by the Nikkei and European markets are trading mostly lower led by the FTSE.

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81 Hits

US Futures are Slightly Higher Despite Higher Weekly Jobless Claims

US futures are slightly higher despite higher weekly jobless claims.  The Labor Department reported that initial jobless claims rose 62,000 last week, well above consensus estimates.  This is the first report that includes some of the effects of Hurricane Harvey.  Also from the Labor Department, Q2 productivity was stronger than expected, rising at an annual rate of 1.5%.  European shares are higher as the ECB has left rates unchanged and commented that the outlook for growth and inflation remains unchanged.  Asian shares closed mostly higher.

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90 Hits

US Futures are Higher This Morning as Markets Look to Rebound From Yesterday's Sell-Off

US futures are higher this morning as markets look to rebound from yesterday’s sell-off.  Markets closed down sharply yesterday as investors sold off financial stocks with US treasuries rising.  Geopolitical fears out of North Korea continue to loom over markets after the North Korean regime fired  more nuclear tests over the weekend.  In US economic data, the US trade deficit came in at $43.7 billion compared to estimates of $44.7 billion.  Later today we will get data for PMI services and ISM nonmanufacturing.  Markets in Asia closed mostly lower led by the Hang Seng and European markets are trading mostly higher led by the DAX.

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89 Hits

US Futures are Lower This Morning as Geopolitical Concerns Increased

US futures are lower this morning as geopolitical concerns increased following North Korea’s latest nuclear test. North Korea said it conducted its most power nuclear test to date this past Sunday. They will look to launch a new intercontinental ballistic missile as soon as this Saturday to celebrate the country’s founding day. Asian markets closed mixed as a better than expected Caixin PMI was met with heightened tensions with North Korea. Markets in Europe are trading mostly lower led by the FTSE. Later today, data for factory orders will be released.

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81 Hits

US Futures Are Higher This Morning Despite a Worse Than Expected Jobs Report

US futures are higher this morning despite a worse than expected jobs report.  The US added 156,000 jobs compared to estimates of 180,000 and the unemployment rate came in at 4.4%.  Later this morning we will get data for manufacturing PMI, manufacturing ISM and consumer sentiment.  Markets in Asia closed mostly higher led by the Nikkei and European markets are trading higher led by the CAC.

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95 Hits

US Futures are Lower This Morning Following North Korea’s Missile Launch Over Japan

US futures are lower this morning following North Korea’s missile launch over Japan.  Geopolitical tensions rose in the Asian region after a missile fired by North Korea flew over Japan.  Global markets fell on this news and safe havens rose as Gold and US Treasuries are higher.  Investors are also still weighing the impact of Hurricane Harvey which continues to pour rain over the southern Texas region.  In economic data, the S&P/Case Shiller 20 city index rose 5.8% annual gain compared to estimates of a 5.7% gain.  Later today we will get consumer confidence data.  Markets in Asia closed mostly lower and European markets are trading down sharply.

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89 Hits

US Futures Are Slightly Higher This Morning as Investors Weighed the Effects of Hurricane Harvey

US futures are slightly higher this morning as investors weighed the effects of Hurricane Harvey.  Investors will turn their attention to refineries as the damage from the storm caused some refineries to close down in the region.  In economic data, the Commerce Department showed the trade gap in goods widened by 1.8% to $65.1 billion in July.  Markets in Europe are trading mostly flat and Asian markets closed higher led by the Shanghai index.

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96 Hits

US Futures are Higher This Morning as Investors Await Comments out of Jackson Hole

US futures are higher this morning as investors await comments out of Jackson Hole.  ECB President Draghi and Fed Chair Yellen are expected to speak later today from the monetary policy symposium.  In economic data, durable goods fell 6.8% last month compared to estimates of a 6% drop.  This drop is the most in 3 years as transportation equipment fell sharply.  Markets in Asia closed higher with the Shanghai index leading the way.  European markets are trading higher with the FTSE leading the way.  

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103 Hits

US Futures are Higher This Morning as the Economic Policy Symposium at Jackson Hole Begins

US futures are higher this morning as the Economic Policy Symposium at Jackson Hole begins.  Investors will be looking ahead to speeches from ECB President Mario Draghi and Fed Chair Janet Yellen.  In economic data, weekly jobless claims came in at 234,000 compared to estimates of 238,000.  Markets in Europe are trading higher with the FTSE leading the way.  Asian markets closed mixed with the Shanghai lower while the Hang Seng closed higher.  

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89 Hits

US Futures are Lower This Morning After Trump's Comments About a Government Shutdown

US futures are lower this morning after Trump’s comments about a government shutdown.  President Trump threatened a potential government shutdown if needed to fund the border wall which he promised during his campaign.  These comments come a couple of weeks after the President’s controversial comments following the protests in Charlottesville.  Economic data due out later this morning include new home sales and the flash US composite PMI.  Markets in Asia closed flat to slightly higher as hopes of tax reform in the US gave investors in the region optimism.  European markets are trading lower as they track the US futures.

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135 Hits

US Futures are Higher This Morning as They Track Global Markets Higher

US futures are higher this morning as they track global markets higher.  Markets in Asia closed higher led by the Hang Seng and European markets are trading higher led by the DAX.  US economic data due out today includes the FHFA Housing Price Index and the Richmond Fed manufacturing survey.  Investors will be looking ahead to the Fed’s Economic Policy Symposium at Jackson Hole which begins later this week.     

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95 Hits

US Futures are Slightly Lower This Morning as Political Uncertainty in the US Continues to Weigh on Markets

US futures are slightly lower this morning as political uncertainty in the US continues to weigh on markets.  Oil prices are trading slightly lower after a recent run up.  No major economic data is set to be released today.  Markets in Asia closed mostly higher led by the Shanghai index.  European markets are trading slightly lower with the DAX leading the way lower.  

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75 Hits

US Futures are Mixed This Morning as Markets Look to Bounce Back from Yesterday's Sharp Selloff

US futures are mixed this morning as markets look to bounce back from yesterday’s sharp selloff.  All 3 major indices were down sharply in trading yesterday as investors weighed the impact of President Trump’s statements following the incident at Charlottesville.  The terrorist attacks in Spain also added to pessimism with at least 13 people dead and many more injured.  Markets in Asia closed mostly lower with the Nikkei leading the way and European markets are trading down with the FTSE leading the way.  Later today we will get economic data for consumer sentiment.

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96 Hits

US Futures are Lower as the Market Digests the Fed Minutes and Economic Data

US Futures are lower as the market digests the Fed minutes and economic data.  In economic data, July industrial production rose 0.2%, slightly below expectations.  The Labor Department reported that initial claims for unemployment benefits dropped by 12,000 last week to 232,000, below estimates; and the Philadelphia Fed Index came in at 18.9 compared to an estimate of 18.  European shares are lower despite the drop in the Euro following the ECB minutes as concerns of an exchange rate overshoot were expressed.  Asian shares closed mixed as political turmoil slowed the recent dollar rally.

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103 Hits

US Futures are Higher this Morning Ahead of the Fed’s July Meeting Minutes

US futures are higher this morning ahead of the Fed’s July meeting minutes.  In economic data, housing starts for July came in below expectations and mortgage applications rose 0.1% last week.  Earnings season is winding down with Target reporting better than expected earnings before the bell.  Later today we will get earnings from L Brands and Cisco.  Markets in Asia closed mixed with the Shanghai index down slightly while the Hang Seng closed higher.  European markets are trading higher led by the CAC.

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98 Hits

US Futures are Higher this Morning as Tensions with North Korea Eased and Economic Data Came in Better Than Expected

US futures are higher this morning as tensions with North Korea eased and economic data came in better than expected.  North Korea announced they will not launch a missile attack on Guam but warned they may still attack if they are provoked by the US.  In economic data, retail sales came in better than expected and the Empire State manufacturing index rose more than expected.  Markets in Asia closed higher led by the Nikkei and European markets are trading higher led by the CAC as global markets rally following statements out of North Korea.

 

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84 Hits

US Futures are Higher this Morning as they Track Global Markets Higher

US futures are higher this morning as they track global markets higher.  Asian markets closed mostly higher with the Hang Seng leading the way and markets in Europe are trading higher led by the DAX as tensions in North Korea eased.  Markets were down sharply last week as tensions between North Korea and the US rose with North Korea warning the US that they may launch missiles toward Guam, a US territory.  No major economic data is due out today.

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96 Hits

United Asset Strategies - Phone System Problems Today

We are currently experiencing phone difficulties today. To reach us, please email  This email address is being protected from spambots. You need JavaScript enabled to view it. .

We apologize for any inconvenience this may cause.

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98 Hits

US Futures are Lower this Morning as Geopolitical Risks with North Korea Continue to Rise

US futures are lower this morning as geopolitical risks with North Korea continue to rise.  In response to President Trump’s comments of “fire and fury,” North Korea laid out plans to fire missiles towards Guam as a warning as tensions rose between the US and North Korea.  In economic data, weekly jobless claims came in 244,000 compared to estimates of 240,000 and the producer price index came in below expectations.  Markets in Asia closed lower led by the Hang Seng and European markets are trading lower led by the FTSE.           

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94 Hits

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