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Minyanville's Before The Bell: Weak Global Sentiment Means U.S. Futures Lower


Futures are pointing lower as global sentiment is weak. Read more to prepare for the trading day!

Global Sentiment is weak this morning with U.S. futures trading lower. As of 7:15 AM EST, S&P futures are down 4.20 points at 1472, and Nasdaq futures are down 1.8 points at 1993.

Asian Markets closed lower this morning as investors are watching for signs of the U.S. economy. The Hang Seng closed down -0.08%, Nikkei down -0.63%, and Taiwan's Taiex fell -0.63%. The Shanghai Composite fell to a lower close after touching a new record high. Fears of oversupply in the IPO market convinced investors to take profits. The China Securities Regulatory Commission is set to review an IPO by China Construction Bank for a record $7.9 bln. (From WSJ)

India's market continued to add to its gains giving it the longest winning streak in 16 months. The Sensex closed up +0.28%. (From Bloomberg)

Australia bucked the trend as well as positive economic data came out greater than expected. The country's GDP climbed 0.9% from the previous three months vs. consensus estimates of 0.5%. GDP figures on a year-over-year basis stood at 4.3%. (From Bloomberg) Australia's ASX 200 ended up 0.41%.

Markets in Europe are trading lower. The CAC is trading down by 0.28%, FTSE down by -0.20%, and the DAX is barely holding onto its gains at +0.01%.

Stocks in Europe got a brief boost after encouraging statements by Deutsche Bank's (DB) CEO Josef Ackerman. The CEO said that there are signs that "turbulent" conditions are stabilizing and that he is "optimistic about the environment globally for financial institutions." Deutsche Bank rose 2.8% at midday in Frankfurt. (From Bloomberg) Please read Minyan Peter's warning in Professor Katz's Minyan Mailbag: Three Reasons Credit Levels Will Stay High.

Sony (SNE) CEO Howard Stringer is set to challenge Apple (AAPL) by expanding into the video-downloading service. People familiar with the situation say Mr. Stringer is planning to use the Playstation 3, portable videogame machines, and Bravia high-def tv platforms to develop products and services for video-downloading. (From WSJ) For more on the tech sector, please read Professor Udall's 21 Bullish Predictions For Tech.

In case you missed everything on Friday, click here for Professor Tuttle's Week In Review. In addition, click here for more company-specific ideas in our Stocks to Watch. And as we head into the last stretch until the New Year, make sure you read Toddo's Ten Themes for the Back Nine.

As we all head back to work today, the focus is back on what the Fed will do. Below is a list of economic data set to be released today. Please Click here for the full radar.

10:00 Construction Spending: -0.1% cons
10:00 ISM Index: 53.0 cons
5:00 Auto Sales: 5.0 mln cons
5:00 Truck Sales: 7.0 mln cons

Welcome back, Minyans! Hope you all had a great weekend. Good luck and Good Trading!
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No positions in stocks mentioned.

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