Day Traders Diary
10/4/13U.S. equity futures hold modest gains with the S&P 500 futures up 0.2%.
Reviewing overnight developments:
In Asia, Hong Kong's Hang Seng -0.3%, Japan's Nikkei -0.9%, and China's Shanghai Composite was closed for Golden Week.
Regional economic data was limited:
The Bank of Japan maintained its policy stance, leaving its key interest rate unchanged at 0-0.1%.
India's HSBC Services PMI slipped to 44.6 from 47.6.
Japan's LDP party is expected to consider implementing corporate tax cuts and lowering the sales tax on food.
Major European indices hover near their highs. Germany's DAX +0.1%, Great Britain's FTSE +0.1%, and France's CAC +0.5%. Elsewhere, Italy's MIB +1.4% and Spain's IBEX +0.6%.
Economic data was scarce:
Eurozone PPI was unchanged month-over-month (0.1% expected, 0.2% prior).
Germany's PPI slipped 0.1% month-over-month (0.1% forecast, -0.1% previous) while the year-over-year reading fell 0.5% (0.1% consensus, 0.5% last).
Looking at news:
The European Stability Mechanism chief Klaus Regling said he expects Greece to require a third bailout package.
In U.S. corporate news:
Apple (AAPL 485.30, +1.89) is +0.4% after agreeing to acquire Cue for more than $40 million.
Union Pacific (UNP 153.70, -1.68) is -1.1% after lowering its third quarter earnings guidance below consensus.
Forest Oil (FST 6.75, +0.40) is +6.3% following an agreement to sell some of its Texas oil and gas assets to Templar Energy for $1.0 billion.
The September nonfarm payrolls report will not be released at its regular time due to the ongoing government shutdown.
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