Anything For You All: 10 things you need to know before the opening bell

Kamis, 03 Oktober 2019

10 things you need to know before the opening bell


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10 Things Before the Opening Bell

Here is what you need to know.

1. US stocks are showing signs of life after a bloodbath on Wednesday. "Ugly is the only way to describe it," one analyst said. "Not quite free-fall or panic, but very ugly."

2. The US will reportedly slap $7.5 billion worth of tariffs on European imports. On Wednesday, the WTO reached a historic ruling that authorized the US to impose punitive tariffs on $7.5 billion worth of European products. The news sent global stocks tumbling.

3. Scottish whisky makers said on Thursday jobs and investment were at risk after the United States slapped a 25% tariff on their single malt spirit, and France said the European Union could respond in the row over EU aircraft subsidies. Washington said it would impose duties on French wine, Scotch and Irish whiskies, and cheese from across the continent.

4. Goldman Sachs says $4 billion flowed out of Hong Kong to Singapore because of the protests. Protests in Hong Kong have raged for months now, and it's causing investors to move their money out of the city.

5. H&M the world's second-biggest fashion retailer, reported on Thursday a rise in fiscal third-quarter pretax profit that beat market expectations and said sales grew 8% in September in local currencies. The quarterly pretax profit increase was the Swedish group's first since the second quarter of 2017.

6. PepsiCo beat quarterly revenue estimates on Thursday, as ramped up advertising boosted demand for the company's sodas and snacks. Net revenue rose 4.3% to $17.19 billion in the third quarter ended Sept. 7, beating analysts' estimates of $16.93 billion, according to IBES data from Refinitiv.

7. Southeast Asia's Internet economy was forecast to grow 39% this year to $100 billion as millions of people in region went online to shop for the first time, and ride-share firms grew in popularity. The annual report by Google, Singapore's state investor Temasek Holdings and global business consultants Bain & Company also lifted its forecast for the region's growth through 2025 to $300 billion, from $240 billion previously.

8. Stocks are mixed after yesterday's heavy losses. US futures underlying the S&P 500 (+0.3%) and the Nasdaq (+0.4%) are both nudging higher. In Europe, the DAX is closed but the FTSE (-0.6%) is dropping after its biggest loss since 2016 yesterday. In Asia, stocks showed heavy losses with the Nikkei down as was the Shanghai Composite (-0.9%) but the Hang Seng (+0.3%) rose.

9. There are some interesting earnings out today. Costco and International Speedway are the highlights.

10. Today is a huge day for data. ISM non-manufacturing data is being released.