FINANCIAL MARKETS
Euro STOXX 50 futures were up 10 points to 4,232, FTSE futures were down 5.5 points to 7,444 and German DAX futures were up 29 points by 04:30 GMT to 15,755.
Asian equities tumbled, with tech stocks falling as tensions between China and the United States escalated, while the dollar was on the verge of capturing its longest winning streak in nine years as investors braced for US interest rates to hike even longer would stay higher.
Oil extended losses, moving further from 10-month highs hit this week, as health concerns over a slowing Chinese economy and a stronger US dollar erased gains from supply cuts at major oil producers Saudi Arabia and Russia.
MACRO DATA
Today, we have:
– Industrial production in Spain and France
– GDP of Japan
– CPI for Germany
– Wholesale stocks in the United States
COMPANIES
Repsol enters US onshore wind market with $768 million purchase of ConnectGen (Reuters); Chevron and Repsol abandon oil and gas exploration blocks in Mexico’s Gulf waters (Reuters)
Ferrovial lands more than $1,000 million in US highway upgrade contracts (Reuters)
ECONOMY AND POLITICS
The increasing restrictions Beijing has placed on government staff’s use of the iPhone sparked concerns among US lawmakers on Thursday, fueling fears that US tech companies, which are most exposed to China, are being hit by rising tensions between the two countries would be (Reuters). )
Japan’s economy grew less-than-expected in the second quarter and wages plummeted in July, casting doubt on central bank forecasts that strong domestic demand will keep the country on course for recovery (Reuters)
Data released on Thursday shows US employers have yet to increase layoffs as many economists had expected, another sign the job market remains resilient despite Federal Reserve efforts to contain it (Reuters)
