The First Look: Your 10-Second Guide To What Happened Overnight

China Bull

ASIA: Asian stocks markets surged, except for Japan. China’s PMI manufacturing came in at 54.7 in October, up 0.9 from September, indicating faster expansion. HSBC’s private PMI reading confirmed the growth acceleration, coming in at 54.8 vs. 52.9 in September according to the Wall Street Journal.

Stocks in Tokyo were however spooked at just how fast the yen strengthened after initially weakening beyond 81 per U.S. dollar. The yen’s now back near 80.50.



EUROPE: Are closed. European markets are up well in early trade. Watch for the UK’s PMI manufacturing index at 5:30 AM ET.



MACRO: Relatively stable on the macro front. The dollar is slightly weaker while gold is popping a bit. Chinese steelmakers continue to be plagued by oversupply concerns according to



U.S. FUTURES: Are rising. Watch for personal income and outlays at 8:30 AM ET, with ISM manufacturing and construction spending at 10:00 AM.


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