European Stocks Trade Sideways
Economic Moves: The economic calendar is loaded with important reports during the U.S. session. At 8:15 a.m. EDT investors will get the ADP Non-Farm Employment report. Investors might use the ADP numbers to gauge Friday's nonfarm payrolls report, which usually has a very strong effect in the global markets. The last three ADP reports came in worse than expected. At 08:30 a.m., the monthly Canadian gross domestic product report may show that the economy expanded 0.4% in July, the most in almost a year.
Crude oil for October delivery was recently trading at $67.40 a barrel, up 70 cents. Crude oil continues struggling to break above the $67.50 area, where it topped since the beginning of the week. A break above this level can only come on positive S&P futures and on a market able to sell the dollar. At 10:30 a.m., the market will get the crude oil inventories report.
Gold for October delivery was recently trading up by $7 to $1.001.50. Gold managed to break above the $1,000 area for the first time in almost a weak. The breakout came during the European session, as the precious metal gathered additional momentum.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV