China's Imports Rise & Samsung's VP Steps Down - This is What You Need to Know

European stocks opened mixed as currency gains offset a boost from stronger-than-expected import data from China

Author:: Edward Hardy
Publish date:: Oct 13, 2017 3:43 AM EDT

This is what you need to know on Friday:

1. European stocks are set to start the final day of the trading week in a cautious mood, with investors eye key inflation data and an uncertain start to the corporate earnings season in the United States.

2. China said that September imports rose 18.7% from the same period last year, while exports surged by 8.1%. The world's second-biggest economy also imported a record amount of iron ore last month, official customs data showed, and have been importing around 8.5 million barrels of oil each days since the start of the year and topped 9 million barrels last month alone.

3. Kwon Oh-Hyun, Samsung's (SSNLF) vice president and heir apparent to the incarcerated former chairman, Jay Y. Lee, will step down after more than three decades at the world's second-biggest smartphone maker to make room for what he called "a new spirit and young leadership".

4. U.S. equity futures are pointing to modest gains on Wall Street, with the Dow Jones Industrial Average set to add around 9 points while the broader S&P 500 looks largely unchanged ahead of key bank earnings reports from Bank of America BAC and Well Fargo WFC. Investors will also see key September inflation data from the Bureau of Labor Statistics and retail sales data from the Department of Commerce.

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