Today the markets received weak manufacturing data from the U.S., Eurozone and China.. The Dow gave .42% to close at 13035.94. The Transports gained a modest .02% to close at 5008.36. The Nasdaq declined .21 points to close at 2772.03. The S & P 500 fell by .12% to close at 1404.94.
The FTSE 100 fell by 1.5% to 5672.01. The DAX fell 1.17 to 6932.58 and the CAC 40 fell by 1.58% to 3399.04. Spain’s IBEX 35 gained .73% to rise to 7488.20.
The Nikkei fell by .10% to 8775.51. The Hang Seng fell by .66% to 19429.91 and the Shanghai Composite fell by 75 bps to 2043.65.
Rates illustrated a shift into more riskier assets. The US 10 yr rose 1.47% to 1.576, German 10yr rose 100 basis points to 1.392. The Italian 10yr fell almost 200 basis points to 5.585. Spain’s 10yr fell 3.75% to 6.569. The U.K. 10yr fell 1.4% to 1.461 and Japan’s 10yr rose .264% to 0.798
Crude futures rose 21 basis points to 95.50, Gold rose 10 basis points to 1697.70, Corn fell 3 basis points to 804.75 & Silver fell 17 basis points to 32.36
The Brazilian Real weakened against the USD after beginning the session strong on increased volume. Traders reacted to a downgrade of the Eurozone by Moody’s. Traders were also concerned with the nation’s near term export prospects. Industrial output also rose less than the prior month, albeit posting a .3% increase vs analysts’ .2% forecast. The country’s Ibovespa fell 1.8% on slow growth abroad.
The USD strengthened amid weak manufacturing data globally.
The Canadian Dollar was mostly flat on the day.
The RBA left interest rates at 3.5%. Swiss GDP contracted. GDP for the quarter was down .1% from the prior quarter. Annual GDP slow to .5 from 1.2 prior. Numbers came in way below expectations of 1.6.
EU PPI rose. Ex construction prices were up 40 basis points vs June numbers. This was the largest monthly increase since March. Annual PPI remained at 1.8% Energy prices acconted for a majority of the increase in prices.
Great Britian posted better than expected PMI reading, 53.7 vs an expected 51.0
Netflix (NFLX) fell 6.35% on a new deal between Amazon and Epix. to stream Amazon’s content. NFLX’s exclusive deal with Epix ended on Sept. 1st.