10 Things You Need To Know Before The Opening Bell
Dec 16, 2013, 17:51 IST
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- Markets in Asia were lower in overnight trading. The Japanese Nikkei 225 and the Shanghai Composite fell 1.6%, while the Hong Kong Hang Seng dropped 0.6%. European markets are rising, led by the Spanish IBEX 35, which is currently up 1.5%. In the United States, futures point to a positive open.
- The preliminary results of Markit's HSBC China manufacturing purchasing managers index survey revealed an unexpected slowdown in manufacturing growth in December. The index fell to 50.5 from 50.8, whereas economists' consensus forecast was for a tick up to 50.9. Numbers above 50 on the index indicate varying degrees of expansion, while numbers below 50 indicate varying degrees of contraction.
- The results of the Bank of Japan's quarterly Tankan survey showed that business sentiment hit a six-year high in Q4. Confidence as measured by the Large Manufacturers Index rose to 16 from 12, while the Small Manufacturing Index unexpectedly turned positive, rising to 1 from -9.
- On Sunday, the European Union suspended trade talks with Ukraine as tens of thousands of Ukrainian demonstrators protested their government's handling of the potential deal. EU enlargement chief Stefan Fuele said the Ukrainian government's arguments on terms of the deal had "no grounds in reality."
- Markit's eurozone manufacturing PMI rose to 52.7 in December from November's 51.6 reading, according to preliminary survey results, while the services PMI fell to 51.0 from 51.2. The composite eurozone PMI, which blends the manufacturing and services numbers, rose to 52.1 from 51.7, suggestive of a slight acceleration in eurozone growth this month.
- At a country level, German manufacturing PMI rose to 54.2 in December from 52.7, while services PMI fell to 54.0 from 55.7, indicating a pickup in manufacturing growth and a modest slowdown in service-sector expansion. French manufacturing PMI fell to 47.1 from 48.4 and services PMI fell to 47.4 from 48.0, indicative of a worsening contraction in both sectors.
- The eurozone trade surplus rose to €17.2 billion in October from €10.9 billion in September and €9.6 billion in October 2012, ahead of the consensus Wall Street estimate for a rise to €15.0 billion. The figures were boosted by rising exports and falling imports, highlighting continued weakness in the domestic eurozone economy.
- The results of the New York Fed's Empire State Manufacturing Survey are released at 8:30 AM ET. Economists predict the survey's headline index rose to 5.00 in December from November's -2.21 reading, indicating an improvement in New York state manufacturing activity over the past month.
- Out at 8:58 AM are the preliminary results of Markit's U.S. manufacturing PMI survey. Economists predict the report's headline index rose to 55.0 in December from November's 54.2 reading, indicating an acceleration in American manufacturing growth this month.
- November U.S. industrial production data round out the day's releases at 9:15 AM. Economists predict industrial output expanded 0.6% in November after falling 0.1% in October. Manufacturing production is expected to have risen 0.4% in November after posting a 0.3% gain in October. Capacity utilization is expected to have edged up to 78.4% from 78.1%. Follow all of the data LIVE on Business Insider »