Catalonia Independence and California Wildfires - This is What You Need to Know

Catalan lawmakers could form an ad-hoc alliance with Socialists in Madrid which could potentially topple the coalition government of Prime Minister Mariano Rajoy and trigger fresh national elections

Author:: Edward Hardy
Publish date:: Oct 10, 2017 3:42 AM EDT

This is what you need to know on Tuesday:

1. European stocks open lower Tuesday as sentiment from negative session on Wall Street drifts into regional markets and investors keep a keen eye on developments in Catalonia as its President prepares to address parliament on independence.

2. Catalan lawmakers could form an ad-hoc alliance with Socialist in parliament in Madrid which, if joined by lawmakers from the Basque region, could potentially topple the coalition government of Prime Minister Mariano Rajoy and trigger fresh national elections.

3. A modestly weaker U.S. dollar, which fell 0.13% against a basket of six global currencies overnight, has regional European currencies marked higher at the start of trading and will likely add pressure to benchmarks in both London and Frankfurt.

4. Wildfires fanned by overnight winds roared out of control over large areas of California's wine country Monday, burning at least 1,500 homes and buildings and covering the entire San Francisco bay area in smoke.

5. Early indications from U.S. equity futures suggest a modest rebound for Wall Street at the opening bell after last night's dips into the red, with Dow mini futures pointing to a 22-point, or 0.1% advance and S&P mini futures indicating a smaller 0.04% gain.

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