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Limited News Has Stock Indexes Higher

STOCK INDEX FUTURES

Stock index futures are higher after the Nasdaq booked another record close yesterday.

Jobless claims in the week ended August 28 were 340,000 when 350,000 were expected.

The fundamental and technical aspects remain supportive for stock index futures.

CURRENCY FUTURES

The U.S. dollar is a little higher on limited news.

Producer prices in the euro area increased 2.3% in July, which is the largest monthly increase since January 1995 and is well above market expectations of 1.1% growth.

The European Central Bank will hold its next policy meeting on September 9. It is likely that the central bank will continue to communicate that monetary policy will remain loose for longer despite calls for the ECB to scale-back its asset purchase program.

The economy of Switzerland expanded 1.8% on the quarter in the three months to June, rebounding from a downwardly revised 0.4% decline in the previous period.

Retail sales in Switzerland fell 2.6% year-on-year in July, which is the first annual decrease in five months.

There is growing talk that the Reserve Bank of Australia will delay tapering its bond buying program at its policy meeting on September 7.

INTEREST RATE MARKET FUTURES

There is growing evidence that the rate of growth in the global economy is slowing.

The flattening U.S. Treasury yield curve since May offered clues about the state of the global economy and inflation.  A flattening yield curve suggests a slower rate of global economic growth in the future.

Higher prices are likely for the 30-year Treasury bond futures.

Futures and options trading involve significant risk of loss and may not be suitable for everyone.  Therefore, carefully consider whether such trading is suitable for you in light of your financial condition.  The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM.  The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared.  The information provided is designed to assist in your analysis and evaluation of the futures and options markets.  However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.

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