10 Things You Need To Know This Morning

Jessica Alba

Photo: Vittorio Zunino Celotto/Getty Images

Good morning. Here’s what you need to know.

  • Asian markets were mixed in overnight trading with the Nikkei down for a fourth straight session. Europe is mixed and U.S. markets have opened modestly higher.
  • Chinese non-manufacturing PMI eased to 53.7 in September, the lowest level since November 2010. This follows a slowdown in Chinese manufacturing PMI. China Crash 2012: Here’s why it’s finally happening >
  • The eurozone composite PMI fell to a four-month low of 46.1 in September, but beat expectations. Meanwhile, retail sales in the euro area climbed 0.1 per cent in August.
  • Apple’s suppliers in Asia have begun mass producing a smaller iPad which could be announced later this month, according to the Wall Street Journal. The mini iPad is reported to have a 7.85-inch screen.
  • The September ADP employment report beat expectations adding 162K to the private payroll.
  • Best Buy founder Richard Schulze and four private equity firms are scrutinizing the company’s books in what is being seen as a step towards a $11 billion buyout, according to Reuters.
  • Australia’s trade deficit widened to $2.07 billion in August, its widest level in over four years. This was attributed to a decline in export earnings. The country’s central bank is now expected to cut interest rates again to bolster the economy, according to the WSJ. Why everyone is slamming Australia >
  • The first presidential debate is scheduled to take place in Denver, Colorado at 9 p.m. ET tonight. The debate will focus on domestic policy and be moderated by Jim Lehrer.
  • The ISM non-manufacturing index for September is out at 10 a.m. ET. Consensus is for the composite index to decline to 53.5.¬†Follow the release at Money Game >
  • Chinese banks have pulled out of meetings of the IMF and the World Bank that are being held in Tokyo next week, according to the WSJ. Sino-Japanese relations have deteriorated amid a dispute over the Senkaku/Diaoyu Islands. Why a tiny uninhabited island chain is causing a huge row between China and Japan >
  • Bonus – Jessica Alba and husband Cash Warren flew coach, while their children and nanny got first class seats.

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