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Sep 24 2015

Weak data raises new questions about growth

Market Recap 09/22/15:

U.S. stocks fell on Wednesday as disappointing economic data – on both domestic and international fronts – weighed on energy and material shares. Chinese factory data sank to a six-year low while U.S. manufacturing growth was at its lowest in two years. Both reports underlined ongoing concerns about the pace of global economic growth, which in turn sank crude oil prices by 4 percent, resulting in the weakness in energy shares. The day’s trading was volatile, which is likely to continue being the case for the next couple of weeks, until the third-quarter earnings season begins in earnest and investors get clarity on how much global issues have impacted corporate profits.

Looking ahead:

U.S. stock index futures were lower on Thursday as investors found few reasons to buy with volatility remaining elevated across the globe. Market participants are looking ahead to this week’s jobless claims, which will be released before the market open and will provide some context for the strength of the labor market. Dow component Nike (NKE) is scheduled to report results after the market closes; the results will be closely studied for what it says about global consumer demand. Make sure you don’t miss this week’s Money Matters with guest host Oliver Pursche, which airs Sundays at 11 on WOR710, and don’t miss Oliver this afternoon at 3:45 PM, where he will be a guest on CNBC’s Closing Bell. Visit our website www.ggfs.com for more details.