Daily Market Preview: Hurricane Irma Forces Evacuation and Peltz Piles Pressure on Procter and Gamble
This is your daily market preview:
1. European stocks open modestly higher Thursday as investors react to a surprising deal on the U.S. debt ceiling and prepare for what could be a pivotal meeting of the European Central Bank later today in Frankfurt.
2. European Central Bank President Mario Draghi was hit with an unprecedented one-two punch of German pressure Wednesday as the country's top banker and its venerable finance minister called for an end to ultra-low interest rates just a few miles down the road from the Bank's headquarters in Frankfurt.
3. The city of Miami is preparing for its largest evacuation in more than a decade Thursday as the U.S. National Hurricane Cents warned that Irma, potentially the most powerful storm to hit the American mainland since 1992, is maintaining its category 5 wind speed as it bears down on the south Florida coast.
4. Activist investor Nelson Peltz late Wednesday released a 93-page white paper detailing his campaign for change at Procter & Gamble (PG) - Get Report , including ideas to eliminate what he called an "insular" culture as well as an effort to increase M&A activities and restructure the packaged goods company into three global business units.
5. U.S. equity futures are suggesting a pullback from yesterday's closing levels, perhaps linked to the looming human and economic damage that a triple-threat of Hurricanes, including the category 5 Irma, could bring to the southeast United States later this week as they bear down on the Florida and south Texas coasts.
Watch More with TheStreet:
