Via Dave Lutz at JonesTrading, here’s a quick guide to what traders are chatting about before the markets open on Thursday:
Good Morning! US Futures are under pressure, with Nasdaq off over 1%. The source of the stress comes from Germany, where DAX is off early 2% on BMW headlines X3 Emissions are 11x the EU standard. VW was trying to stage a rally, but has succumbed to the headwinds, as BMW fell 8% in trading. The FTSE is trying to outperform, but Glencore continues to slide, weighing on London equities. Consumer Discretionary the worst hit, especially in Frankfurt – as angst ramps fast on impact into Germany’s economy. Over in Asia, Shanghai rallied 90bp, while the Hang Seng fell 70bp. Aussie rallied 1.5% from 2Y lows, and Japan fell 2.8% on its first session this week – Downbeat global environment and a weaker PMI. Most Emerging Markets were under pressure, and the EEM is looking at yet another down session.
