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Money Futures fall as selloff sweeps global markets

16:51  11 october  2018
16:51  11 october  2018 Source:   reuters.com

Oil prices rise 1 percent ahead of U.S. sanctions against Iran

  Oil prices rise 1 percent ahead of U.S. sanctions against Iran Oil prices rise 1 percent ahead of U.S. sanctions against IranOil prices rose by 1 percent on Thursday as investors focused on the prospect of tighter markets due to U.S. sanctions against major crude exporter Iran, which are set to be implemented in November.

U.S. Stocks Open Lower After Selloff Hits Global Markets . Dow industrials open lower after a global rout and extending Wednesday's selloff as consumer prices rose less than expected in September.

Fears of interest rate rises in the US aimed at taming inflation are making markets nervous.

Futures for Canada's main stock index fell on Thursday following a rout in world markets, as jitters over rising U.S. Treasury yields and signs of slowing global growth sparked a broad selloff of risky assets.

December futures on the S&P/TSX index (SXFc1) were down 1.3 per cent at 6:55 a.m. ET.

New housing price index data for August is due at 8:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX (.GSPTSE) fell 336.65 points, or 2.12 percent, to 15,517.40 on Wednesday.

Dow Jones Industrial Average e-mini futures (1YMc1) were down 0.8 percent at 6:55 a.m. ET, while S&P 500 e-mini futures (ESc1) were down 0.8 percent and Nasdaq 100 e-mini futures (NQc1) were down 0.7 percent.

TSX and U.S. markets post multi-month gains

TSX and U.S. markets post multi-month gains TSX and U.S. markets post multi-month gains

Why are stock markets falling ? For several weeks, economists and analysts have warned that inflation levels in major economies could increase this year beyond It is puzzling to analysts that the money coming out of the markets is not necessarily going into government treasuries or other safe havens.

U.S. stocks ended sharply lower on Tuesday, with the Dow industrials down nearly 400 points as traders reacted to fresh political drama in Italy after a three-day weekend. See: Here’s how Italy revived the euro crisis and sparked a global stock market selloff .

TOP STORIES

Barrick Gold Corp (ABX.TO), which recently announced a $6.1 billion deal to acquire Randgold Resources Ltd affirmed its 2018 gold and copper production forecast on Wednesday, reflecting improvements in operations.

Enbridge Inc (ENB.TO) said on Wednesday it had approval to restart operations on a 30-inch natural gas pipeline in northern British Columbia, after a fire in an adjacent line led to disruptions for refineries in the U.S. state of Washington.

Chile's Supreme Court upheld an environmental order for a gold mine owned by Canada's Kinross Gold Corp (K.TO) to close its water pumping wells, the environmental regulator said on Wednesday, bringing the curtain down on a long-running dispute that sparked the Toronto-based miner's retreat from Chile.

Oil prices rise, but still set for weekly fall amid equities rout

  Oil prices rise, but still set for weekly fall amid equities rout Oil prices rise, but still set for weekly fall amid equities routBrent crude futures rose 33 cents, or 0.4 percent, to $80.59 a barrel by 0256 GMT. The contract fell 3.4 percent on Thursday, dropping to as low as $79.80, its weakest since Sept. 24. It is heading for a 4.2 percent decline this week, the first weekly drop in five.

Germany is defying the global market selloff today, with its DAX index slightly higher. That’s partly thanks to Deutsche Bank, whose shares have surged over 4% today. There’s speculation that the German lender has a better chance of negotiating a lower penalty with the US Department of Justice

The global selloff that started on Monday, resulting in the biggest drop in US stocks since Selling accelerated in late trade amid a slump in US equity futures , in which DJIA futures fell over In metals markets , gold trades lower amid the global risk environment and the yellow metal’s safe-haven status.

ANALYST RESEARCH HIGHLIGHTS

Celestica Inc (CLS.TO): Macquarie raises price target to C$17.80 from C$16.90

Leagold Mining Corp (LMC.TO): CIBC cuts target price to C$4.25 from C$5

Source Energy Services Ltd (SHLE.TO): Morgan Stanley cuts target price to C$4.5 from C$6.5

COMMODITIES AT 6:55 a.m. ET

Gold futures (GCc2): $1204.1; +1.12 percent

US crude (CLc1): $71.91; -1.72 percent

Brent crude (LCOc1): $81.45; -1.97 percent

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Core CPI mm, SA for Sep: Expected 0.2 pct; Prior 0.1 pct

a close up of an umbrella: Buildings are seen in the financial district in Toronto© REUTERS/Mark Blinch Buildings are seen in the financial district in Toronto

0830 Core CPI yy, NSA for Sep: Expected 2.3 pct; Prior 2.2 pct

0830 CPI Index, NSA for Sep: Expected 252.688; Prior 252.146

0830 Core CPI Index, SA for Sep: Prior 258.14

0830 CPI mm, SA for Sep: Expected 0.2 pct; Prior 0.2 pct

0830 CPI yy, NSA for Sep: Expected 2.4 pct; Prior 2.7 pct

0830 Real weekly earnings mm for Sep: Expected 0.1 pct; Prior 0.1 pct

0830 CPI mm NSA for Sep: Prior 0.06 pct

0830 CPI Index SA for Sep: Prior 251.850

0830 CPI, Potatoes for Sep: Prior 353.16

0830 Initial jobless claims : Expected 206,000; Prior 207,000

0830 Jobless claims 4-week average : Prior 207,000

0830 Continued jobless claims : Expected 1.660 mln; Prior 1.650 mln

1100 Cleveland fed CPI for Sep: Prior 0.1 pct

(Reporting by Yoganand KN in Bengaluru; Editing by Saumyadeb Chakrabarty)

Fed likely to raise rates, possibly end stimulus era .
Fed likely to raise rates, possibly end stimulus eraThis week's two-day policy meeting could mark the formal end of the accommodative level of rates the Fed has used to support the American economy since the onset of the 2007-2009 recession.

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