Good morning! Here’s what you need know before US markets open Wednesday.
Germany’s Manufacturers Are Contracting. PMI data out for the Eurozone this morning shows the German industrial sector contracting for the first time in 15 months, with the Eurozone’s overall figure suggesting minuscule growth.
Airlines Will Have To Replace 1,300 Boeing Cockpit Displays. The US Federal Aviation Administration is ordering the change to avoid signal interference.
US Auto Sales Are Out Later. At 10.30 a.m. ET, US auto sale figures are out for September. Analysts are expecting 16.7 million sales for September. ISM and Markit manufacturing figures are also out at 9 a.m. and 8.45 a.m. ET, respectively.
Chinese Manufacturing Is Holding Up. China’s manufacturing PMI came in at 51.1, marginally higher than analyst expectations and up from last month.
European Markets Are Mostly Down. France’s CAC 40 is currently 0.38% lower than yesterday’s close, while the UK’s FTSE 100 is down 0.46%. Germany’s DAX is up 0.11%. The Hang Seng is closed and Japan’s Nikkei ended down 0.56%.
Hong Kong’s Protests Are Still Raging On. The massive demonstrations are ongoing, and tensions are high. Today is China’s national day, and neither Beijing nor the protestors are backing down.
Angie’s List May Be Sold. Shares of Angie’s List were up as much as 22% in pre-market trade on Wednesday after a report that the company may be sold.
France Won’t Meet Its Deficit Targets For Years. France’s finance minister on Wednesday forecast that the country’s budget deficit would scrape below the European Union ceiling by 2017.
The US Is Searching For Other Ebola Victims. After the first confirmed case in the United States, US authorities are searching for other infected individuals.
The UK’s Major Retailers Are Getting Hammered. After a formal investigation into Tesco’s £250 million disappearing profit was launched, investors are souring on other major supermarkets.
Adidas Is Buying Back €1.5 Billion ($1.9 Billion) In Shares. The sportswear firm’s share price jumped this morning when the major buyback was announced.