Sep E-mini stock futures this morning are down -15.50 points (-0.55%) and European stocks are down -0.77% as global equity and commodity markets decline on growth concerns. Weakness in energy stocks, mining companies and raw-material producers are leading losses in world stock markets as Sep COMEX copper tumbles -2.54% to a 13-1/2 month low, Sep WTI crude falls -1.31% and Dec COMEX gold sinks -0.69% to a 1-1/2 month low. The Turkish lira rose for a second day and climbed more than 3% against the dollar after Turkey’s banking regulator limited the amount of currency swap transactions banks can participate in by half to 25% of shareholder equity. Asian markets settled lower as well as China’s Shanghai Composite closed down sharply by -2.08% at a 1-week low and Japan’s Nikkei Stock Index closed down -0.68%. Concern that China’s economic momentum will continue to slow is weighing on stocks and on the yuan, which fell to a 17-month low of 6.197 per dollar today. The dollar index is up +0.15% at a 13-1/2 month high. EUR/USD is down -0.26% at a 13-1/4 month low. USD/JPY is down -0.03%. Sep 10-year T-notes are up +5 ticks.
UK Jul CPI was unch m/m and rose +2.5% y/y, right on expectations. The Jul core CPI rose +1.9% y/y, right on expectations.
UK Jul RPI rose +0.1% m/m and +3.2% y/y, weaker than expectations of +0.2% m/m and +3.4% y/y. Jul RPI ex mortgage interest payments rose +3.3% y/y, weaker than expectations of +3.4% y/y.
The UK Jun house price index rose +3.0% y/y, stronger than expectations of +2.6% y/y.
China Jul home prices rose +1.21% m/m, the largest increase in 22-months.
Morning Markets Last Chg %chg
E-mini S&P 500 (U8) 2825.50 -15.50 -0.55%
Europe Euro Stoxx 50 3383.30 -26.14 -0.77%
Japan Nikkei Index 22204 -152 -0.68%
China Shanghai Comp. 2723 -58 -2.08%
10yr T-notes (CBT)(U8) 120.085 0.050 0.13%
U.S. Dollar Index 96.878 0.147 0.15%
Euro FX (EUR/USD) 1.1315 -0.0029 -0.26%
Dollar-yen (USD/JPY) 111.12 -0.03 -0.03%
Sterling (GBP/USD) 1.2706 -0.0017 -0.13%
WTI Crude Oil (U8) 66.16 -0.88 -1.31%
Brent Crude Oil (V8) 71.73 -0.73 -1.01%
Gasoline (Nymex) (U8) 2.0300 -0.0041 -0.20%
Gold (Comex) (Z8) 1192.4 -8.3 -0.69%
Silver (Comex) (U8) 14.815 -0.238 -1.58%
Copper (Comex) (U8) 2.614 -0.068 -2.54%