• US stock market, economy and companies update (September 29, 2015)

    US equities are seeing modest gains this morning after two days of losses. The S&P500 briefly traded below the key 1880 level that also held in the late August slide, and has moved higher in midday trading. As of writing, the DJIA is up 0.16%, the S&P500 is up 0.35% and the Nasdaq is up 0.39%.

    London-traded shares of Glencore are trading up more than 16% this morning on reports management has held talks with a group of investors upset about the company's recent equity raise. Glencore sought to calm investors' fears about the firm's balance sheet during a period of depressed commodity prices, claiming it has very strong lines of credit.

    In remarks made in New York this morning, Japanese Prime Minister Shinzo Abe began discussing a new stage of his economic overhaul, dubbed "Abenomics 2.0." Abe vowed to continue aggressive monetary easing and boost fiscal spending, promising to do whatever necessary to put Japan's economy on robust growth path. Abe claimed the deflation mindset that plagued Japan for so long has been thrown off (despite the negative reading in the August national CPI data). USD/JPY bottomed out after two days of declines around 119.25, then rose to 120.15 after the slightly better Japan business confidence reading and Abe's speech.

    Tesla shares are up more than 1% after two sessions of losses ahead of the much-anticipated rollout of its Model X vehicle. The electric car maker will host a special event later today to unveil the falcon-winged model, which is more than a year behind schedule.

    Looking Ahead
    - 17:00 (KR) South Korea Oct Business Manufacturing Survey: No est v 71 prior; Non-Manufacturing Survey: No est v 73 prior
    - 19:05 (UK) Sept GfK Consumer Confidence: No est v 7 prior
    - 19:50 (JP) Japan Aug Preliminary Industrial Production M/M: No est v -0.8% prior; Y/Y: No est v 0.0% prior
    - 19:50 (JP) Japan Aug Retail Sales M/M: No est v 1.4% prior (revised from 1.2%); Retail Trade Y/Y: No est v 1.8% prior (revised from 1.6%); Large Retailers' Sales: No est v 2.1% prior

    Economic Data
    - (ZA) South Africa Q2 Non-Farm Payrolls Q/Q: -0.5% v -0.5% prior; Y/Y: -1.8% v -0.5% prior
    - (UK) Sept CBI Industrial Reported Sales: 49 v 284e
    - (BR) Brazil Sept FGV Inflation IGPM M/M: 0.95% v 0.8%e; Y/Y: 8.35% v 8.2% prior
    - (DE) Germany Sept Preliminary CPI M/M: -0.2% v -0.1%e; Y/Y: 0.0% v 0.1%e
    - (DE) Germany Sept Preliminary CPI EU Harmonized M/M: -0.3% v 0.0% prior; Y/Y: -0.2% v 0.1% prior
    - (CA) Canada Aug Industrial Product Price M/M: -0.3% v 0.5%e; Raw Materials Price Index M/M: -6.6% v -7.5%e
    - (US) July S&P/ CaseShiller 20 City M/M: -0.2% v +0.1%e; Y/Y: 4.96% v 5.15%e; House Price Index: 181.9 v 182.64e
    - (US) July S&P/ CaseShiller M/M: 0.34% v 0.09% prior; Y/Y: 4.369% v 4.49% prior; House Price Index: 175.11 v 173.84 prior
    - (US) Sept Consumer Confidence Index: 103 v 97e

    [I]Contributed by Trade The News[/I]
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