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Sep E-mini stock futures this morning are down -2.50 points (-0.09%) and European stocks are down -0.10%. Weakness in technology stocks is leading the overall market lower with Nvidia down nearly 4% and Applied Materials down almost 6% in pre-market trading after both companies gave weaker-than-expected forward earnings guidance. Renewed turmoil in Turkish financial markets is also weighing on equity prices with the Turkish lira down more than 5% against the dollar after U.S. Treasury Secretary Mnuchin said Turkey will face additional sanctions unless it releases American pastor Brunson. Asian markets settled mixed as China’s Shanghai Composite closed down -1.34% at a fresh 2-1/3 year low and Japan’s Nikkei Stock Index closed up +0.35%. Chinese stocks moved lower after President Trump said China needs to offer more at the bargaining table when the two countries meet for trade talks in Washington at the end of the month. The yuan strengthened against the dollar after the New York Times reported the U.S. will seek to pressure China to lift the value of the yuan in coming trade talks. The dollar index is down -0.15%. EUR/USD is up +0.11%. USD/JPY is down -0.33%. Sep 10-year T-notes are up +5.5 ticks.

The Eurozone Jun current account balance shrank to a surplus of +23.5 billion euros from an upward revised +24.4 billion euros in May, the smallest surplus in 14-months.

Morning Markets Last Chg %chg
E-mini S&P 500 (U8) 2842.25 -2.50 -0.09%
Europe Euro Stoxx 50 3374.02 -3.54 -0.10%
Japan Nikkei Index 22270 78 0.35%
China Shanghai Comp. 2669 -36 -1.34%
10yr T-notes (CBT)(U8) 120.140 0.055 0.14%
U.S. Dollar Index 96.501 -0.144 -0.15%
Euro FX (EUR/USD) 1.1389 0.0012 0.11%
Dollar-yen (USD/JPY) 110.53 -0.37 -0.33%
Sterling (GBP/USD) 1.2715 -0.0001 -0.01%
WTI Crude Oil (U8) 65.85 0.39 0.60%
Brent Crude Oil (V8) 72.23 0.80 1.12%
Gasoline (Nymex) (U8) 1.9983 0.0109 0.55%
Gold (Comex) (Z8) 1184.3 0.3 0.03%
Silver (Comex) (U8) 14.655 -0.058 -0.39%
Copper (Comex) (U8) 2.618 0.002 0.06%

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