ASIA: Fell hard… except for Japan. Japan outperformed the region and it’s probably because the yen has weakened substantially overnight, and is now near 81.9; more comfortably away from the near 80 mark hit had hit previously.
South Korean GDP growth missed expectations, growing 0.7% quarter-on-quarter in Q3 vs. 0.8% expected.
Australian inflation came in below expectations, at 0.7% in September vs. expectations for 0.9%. The Aussie dollar interestingly has fallen nearly 1.5% against the U.S. dollar. BHP and Rio Tinto fell on weakness in the commodities space.
EUROPE: Is dropping. Heineken’s reported, with revenue missing analyst estimates. Shares are tanking. SAP has however beaten revenue estimates and maintained its guidance… yet its shares are down over 4.5%. But it’s not all doom and gloom — Deutsche Bank reported a smaller than expected loss and is up 1.7%.
MACRO: The dollar index has broken above 78. Trashing the dollar has been in style lately, but one has to point out that the dollar index is above 2009’s low around 75. So it hasn’t been that weak lately, just volatile.
The euro, oil, and gold have eased back.
U.S. FUTURES: Are falling already. Watch for durable goods orders at 8:30 AM ET and new home sales at 10:00 AM. Procter & Gamble (PG) reports today as well.