5 Things to Watch This Morning : about stock & equity markets
1. U.S. stock markets closed for Labour Day
Trade volumes were expected to remain light on Monday, with many investors in the U.S. away for the Labor Day holiday. Trading in gold and other metals ends at 1:00PM ET, while U.S. stock markets are closed for trading all day.
2. Federal Reserve rate hike outlook remains in focus
Market sentiment remained subdued after mixed U.S. payrolls data failed to quell uncertainty over the prospect of a near-term interest rate hike from the Federal Reserve. The Labour Department reported Friday that the U.S. economy added 173,000 jobs last month, below forecasts for an increase of 220,000 and slowing from gains of 245,000 a month earlier. But the unemployment rate ticked down to 5.1%, its lowest level since April 2008
3. Shanghai roller-coaster continues
The Shanghai Composite, which reopened after a four-day extended weekend, took investors on a roller coaster ride, rising almost 2% after the open, only to turn negative after the midday break to end down 2.5%. China’s National Bureau of Statistics revised down the 2014 GDP growth rate to 7.3% from the previously announced 7.4% on Monday. China has set a growth target of about 7% for 2015, the slowest pace in 25 years.
4. European markets rebound from Friday’s losses
A modest rebound in European equity market helped soothe investors’ tattered nerves. European markets fell sharply on Friday as global stocks dropped after a mixed August jobs report failed to allay uncertainty about whether the Federal Reserve will increase interest rates later this .
5. Oil futures extend losses as supply glut worries persist
Oil futures extended losses from the prior session on Monday, as ongoing worries over the health of the global economy fueled concerns that a global supply glut may stick around for longer than anticipated.
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