Sep E-mini stock futures this morning are down -1.75 points (-0.06%) on concern about fallout from President Trump’s latest legal woes after his former lawyer pleaded guilty late Tuesday afternoon to illegal campaign-finance charges. Losses in U.S. stock indexes were contained, and European stocks rose +0.52% to a 1-week high on strength in energy stocks as Oct WTI crude oil climbed +1.70% to a 1-week high. Crude oil rallied after API data late Tuesday showed U.S. crude inventories fell -5.17 million bbl last week. Also, Target rose more than 5% in pre-market trading to give a boost to retail stocks after it reported better-than-expected Q2 EPS and raised its full-year EPS forecast. Asian stocks settled mixed as China’s Shanghai Composite closed down -0.70% and Japan’s Nikkei Stock Index closed up +0.64% at a 1-week high. Trade concerns weighed on Chinese stocks ahead of a Chinese delegation’s arrival in the U.S. for two days of trade talks today and tomorrow. Strength in Japanese exporters lifted the Nikkei Stock Index to a 1-week high on optimism over trade on reports that the U.S. and Mexico have moved closer toward a consensus on forging a new North American Free Trade Agreement. The dollar index is down -0.12% at a 1-1/2 week low. EUR/USD is up +0.25% at a 1-1/2 week high. USD/JPY is up +0.08%. Sep 10-year T-notes are up +2.5 ticks at a 2-1/2 month high.
The Japan Jun all-industry activity index fell -0.8% m/m, right on expectations and the biggest decline in 5-months.
Morning Markets Last Chg %chg
E-mini S&P 500 (U8) 2860.00 -1.75 -0.06%
Europe Euro Stoxx 50 3429.46 17.80 0.52%
Japan Nikkei Index 22363 143 0.64%
China Shanghai Comp. 2715 -19 -0.70%
10yr T-notes (CBT)(U8) 120.170 0.025 0.06%
U.S. Dollar Index 95.139 -0.117 -0.12%
Euro FX (EUR/USD) 1.1600 0.0029 0.25%
Dollar-yen (USD/JPY) 110.40 0.09 0.08%
Sterling (GBP/USD) 1.2896 -0.0005 -0.04%
WTI Crude Oil (V8) 66.96 1.12 1.70%
Brent Crude Oil (V8) 73.90 1.27 1.75%
Gasoline (Nymex) (V8) 1.9434 0.0324 1.70%
Gold (Comex) (Z8) 1203.6 3.6 0.30%
Silver (Comex) (U8) 14.795 0.029 0.20%
Copper (Comex) (U8) 2.678 -0.018 -0.67%