American premarket from Sergei Kostenko

Attention to data on employment in the United States

 

The U.S. stock market closed on Thursday amid growing under the influence of a news from Europe. ECB decision to actively and unreservedly buy short-term bonds of Spain and Italy inspired investors' optimism that the euro zone will be able to resolute struggle against the debt crisis.

In the largest decline were stocks of the banking sector.

American BKX bank index closed yesterday at 48.51 (+2.93%). Shares of companies JPMorgan Chase & Co., Citigroup Inc. and Bank of America Co. rose from 4.26% to 5.03%.

 

U.S. stock indexes for the previous trading day to close at: DJI-13,292.00 (+1.87%); S & P 500 - 1,432.12 (+2.04%); NASDAQ Comp. - 3,135.81 (+2.17%).

On the eve of the U.S. trading session, futures on the broad market index S & P 500 is 1,435.70 (+0.33%). U.S. Markets open in positive territory.

 

Oil futures in London before opening in New York to increase the release of statistics on employment in the United States.

Crude futures mark Brent Oil (ICE) day at 113.95 (+0.40%), U.S. crude oil WTI (ICE) 95.88 (+0.37%). Gold futures stood at 1,710.40 (+0.97%), quotes copper at 350.30 (-0.74).

Goldmann Sachs Commodity Index XOI last session stood at 1238.83 (+0.21%).

In the currency market, commodity currencies and the euro are well supported amid expectations of stabilization in the European debt market and the inclusion of the Fed printing press due to the weak U.S. labor market.

Futures on the dollar index, which reflects the value of the U.S. currency against a trade-weighted basket of currencies, is 80.85 (-0.23%).

 

If current data on employment in the non-agricultural sector of the U.S. will be worse than expected, it will be a good signal for the market launch of the increased likelihood of the Fed QE 3 this year, but will certainly have a negative pressure on the U.S. dollar. We are waiting for the release of statistics from the U.S..

 

Events today:

Moscow time

Canada 16.30 Number of building permits in July n / a; -1,5% m / m, -2.5% m / m

16.30 Canada Changing the number of employed in August n / a; 9.900; -30.400

16.30 Canada unemployment rate in August n / a; 7,3%; 7,3%

16.30 Canada Productivity Q2. 2012 n / a; 0,2% q / q and 0.1% q / q

16:30 U.S. Change in number of employees (excluding agriculture) August n / a; 121.000; 163.000

16.30 U.S. unemployment rate in August n / a; 8,3%; 8,3%

16:30 U.S. Change in average hourly wages in August n / a; 0,2% m / m and 0.1% m / m

18.00 Canada Business Index from August Ivey n / a; 64,5; 62,8

18.00 Assessment of changes in UK NIESR GDP from June-August, n / a; n / a; -0,2%

 

Sergei Kostenko