Here is what you need to know.
Goldman Sachs says Hurricane Harvey makes a government shutdown less likely. The odds of a government shutdown have fallen to from 50% to 35% in the wake of Hurricane Harvey, according to Goldman Sachs economist Alec Phillips.
There was mixed data out of China. China’s National Bureau of Statistics said manufacturing PMI climbed to 51.7 in August while non-manufacturing PMI fell 53.4, its lowest since May 2016.
Euro area inflation jumps. A flash estimate released by Eurostat on Thursday showed consumer prices in the euro area jumped 1.5% year-over-year in August, led by a 4% surge in energy prices.
The NFL’s preseason ratings are up. Ratings for the preseason are up 12% versus a year ago, and UBS analyst Doug Mitchelson says that’s good news for the NFL because there’s been a notable correlation between preseason and regular season viewership.
The NYSE wants companies to delay dropping big news right after the closing bell. In a filing with the US Securities and Exchange Commission, the New York Stock Exchange proposed companies wait until at least 4:05 p.m., or until it publishes the stock’s closing price for the day, before releasing news, Reuters says.
Expedia has a new CEO. Mark Okerstrom, Expedia’s chief financial officer and executive vice president of operations, has been named president and CEO, replacing Dara Khosrowshahi, who left to head Uber.
Box gives weak guidance. The company announced a second-quarter loss of $US0.11 a share on revenue of $US122.9 million, both ahead of expectations, but forecast both figures below Wall Street estimates for the third quarter.
Stock markets around the world are up. Australia’s ASX (+0.90%) led the gains overnight and Germany’s DAX (+0.64%) is out front in Europe. The S&P 500 is set to open higher by 0.19% near 2,462.
Earnings reports keep coming. Campbell Soup and Dollar General report ahead of the opening bell while Lululemon releases its quarterly results after markets close.
US economic data is heavy. Initial claims, PCE prices, and personal income and spending will all be released at 8:30 a.m. ET before Chicago PMI crosses the wires at 9:45 a.m. ET and pending home sales are due out at 10 a.m. ET. The US 10-year yield is up 2 basis points at 2.15%.
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