BT Three Minute Markets Update
Summary: BT's Chief Economist Chris Caton and our expert product managers provide a recorded regular update on current market conditions. The updates are current, quick and easy to listen to.
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Podcasts:
Red ink everywhere: FTSE -2.4%, DAX -2.7%, S&P -1.5%, Dow -1.7%; global concerns about China go on.
We'll start +0.4% with Europe up FTSE +1.8%, DAX +2.7% (+7.2% in past year) while US was quiet after a good day yesterday and good data in the combined ISM figures.
A better night will see us start +0.5%: FTSE +0.4%, DAX +0.3%, Dow & S&P +1.8% China won't report this week and US data is promising.
China's manufacturing index, lowest in two years, drove markets down; we will start -1% and fall from there, FTSE -3%, DAX -2.4%, Dow -2.8%, SP -3%
August closes down, DAX -0.4% Dow -0.7% S&P -0.8% Australia had its worse month since January 2014.
FTSE +0.9%, DAX -0.2%, Dow -0.1%, S& +0.1% as markets quietened and ended up for the week as a whole, US personal income and spending came in moderate.
Second good night in a row +5% in China, FTSE +3.6%, DAX +3.2%, Dow +2.3%, S&P +2.4% so we should do okay today.
Should be a good start today: FTSE -1.7% DAX -1.3% Dow +3.3% S&P +3.9% in response to the previous day
Another wild night with Europe up & Australia defying the Futures Index (which is predicting -0.9% for our start today) FTSE +3.1%, DAX +5%, Greece +9%, following Chinese policy changes which didn't help US markets, Dow & SP -1.3%
China continues to bring markets down: FTSE & DAX -4.7% biggest fall in several years; the Dow opened -1000pts (-6%) but clawed a lot back to finish -3.6%, S&P -3.9%. We will be buffered by the AUD fall, but not much.
An ugly day on Friday, markets around the world dropped: FTSE -2.8% DAX -3% SP -3.1% Dow -3.2% We will fall at least 2%
FTSE -0.6% DAX -2.1% SP -1.8% Dow -2.1% due to concerns about the falls in Chinese markets and renewed concern about Greece.
S&P -0.85% Dow -0.9% FTSE -1.9% DAX -2.1% so we should be down after yesterday's up market. AUD at 0.735 USD. FOMC's minutes haven't rules out a rate rise but it seems unlikely although it must be priced in by now.
American housing starts climbed to an 8-year high, actual 1.21M against consensus 1.18M.
NEHB's housing market index rose 1 point, matching consensus and is at its highest point, but manufacturing indicators were down.
