Here is what you need to know.
Consumer confidence is slowing down in China. The latest Westpac-MNI China consumer sentiment index fell 2.2% to 111.5, and showed notable weakness in the labour market as the employment outlook indicator sank to a six-month low of 92.2.
Eurozone inflation disappointed. Data from Eurostat showed consumer prices in the eurozone rose 0.2% year-over-year in August, missing the 0.3% print that economists had forecast. The euro is little changed near 1.1145.
UK home prices jumped after Brexit. Nationwide home prices climbed 0.6% month-over-month in August, and have yet to show any impact from the UK’s June 23 vote to exit the European Union. The British pound is stronger by 0.5% at 1.3140.
Africa’s largest economy is in recession. Still reeling from the oil crash and a decision to un peg its currency from the dollar, Nigeria’s economy contracted by 2.1% in the second quarter, and is now in a recession for the first time in more than 20 years.
Canada has applied to join the Asia Infrastructure Investment Bank. Canada seeks to join other US allies such as Britain, Germany, Australia and South Korea in becoming a member of the China-led bank which rivals the World Bank and Asian Development Bank, Reuters reports.
America’s stock markets are slowing down. The New York Stock Exchange, Nasdaq, and Chicago Stock Exchange have all announced measures to take away some of the edge from high-frequency traders.
SWIFT discloses more cyber attacks. The global financial messaging system announced new hacking attacks on its member banks and said that some victims lost money, but declined to give a specific dollar amount, Reuters reports.
Stock markets around the world are mixed. Japan’s Nikkei (+1.0%) booked solid overnight gains and Britain’s FTSE (-0.3%) lags in Europe. S&P 500 futures are down 1.25 points at 2,174.00.
Earnings reporting is light. Salesforce.com is set to report its quarterly results after the closing bell.
US economic data picks up. ADP Employment will be released at 8:15 a.m. ET and Chicago PMI will cross the wires at 9:45 a.m. ET. Then, at 10 a.m. ET, pending home sales are due out. The US 10-year yield is higher by 2 basis points at 1.58%.
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