Good morning! European markets are down early Tuesday, following some grim news from Germany’s manufacturers.
Here’s the scorecard:
France’s CAC 40 is down 0.69%
Spain’s IBEX is down 0.84%
Italy’s FTSE MIB is down 0.14%
Britain’s FTSE 100 is down 0.68%
Germany’s DAX is down 0.66%.
Asian markets closed mixed. The Nikkei closed down 0.67%, while the Hang Seng closed up 0.25%.
U.S. futures are down a little, with Dow futures down 48 points and and S&P futures down 5.6 points.
It’s a slow day for data. German industrial production dropped 4% from July to August, versus an expected decline of 1.5%. Industrial production numbers for the UK are out at 4:30 a.m. ET.
In the US later, consumer credit change data comes out at 3 p.m. ET, and there are speeches by Fed policymakers Narayana Kocherlakota and Bill Dudley.