Eurozone GDP Growth Steady at 0.3%

News Event

From Trading Economics: The Eurozone economy expanded 0.3 percent on quarter in the three months to September of 2016, the same as in the previous period and in line with market expectations. GDP growth picked up in France and Austria but slowed in Spain, Belgium and Lithuania. GDP Growth Rate in the Euro Area averaged 0.37 percent from 1995 until 2016, reaching an all-time high of 1.30 percent in the second quarter of 1997 and a record low of -3 percent in the first quarter of 2009. GDP Growth Rate in the Euro Area is reported by the Eurostat.

Market Snap

Market Opening Wrap

In Asian Equity Markets stocks got off to a shaky start on Monday as investors were rattled by news that the FBI is planning to review more emails related to Democratic presidential candidate Hillary Clinton's private server, just a week before the election. MSCI's broadest index of Asia-Pacific stocks outside Japan hit a six-week low on Monday before recovering up 0.2 percent. The Nikkei fell 0.5 percent to 17,353.04 by midmorning, after ending at a six-month high on Friday. China's Shanghai Composite index fell 0.4 percent, paring gains this month to 2.9 percent. Hong Kong's Hang Seng slid to a two-month low but revived to gain 0.3 percent, on track for a 1.1 percent loss in October.

In Currency Markets the dollar edged up on Monday, staying on track for a monthly gain, but remained shy of recent highs as investors became less sure that Hillary Clinton would win the U.S. presidential election after the FBI's new probe into her private email use. Against the yen, the dollar inched 0.1 percent higher to 104.77 yen. The euro fell 0.2 percent to $1.0969, giving back some of its gains on Friday, when it rose almost 0.9 percent to log its largest one-day rise in nearly two months. The Mexican peso was fractionally higher in Asian trade at 18.9700 to the dollar, after notching a three-week low of 19.1005 touched on Friday. The dollar index added 0.1 percent to 98.418.

In Commodities Markets  oil prices extended declines on Monday after non-OPEC producers made no specific commitment to join OPEC in limiting oil output levels to prop up prices, suggesting they wanted the oil producing group to solve its differences first. London Brent crude for December delivery was down 0.6 percent, at $49.42 a barrel after settling down 76 cents on Friday. NYMEX crude for December delivery was trading down 0.5 percent, at $48.47 a barrel, after closing down $1.02 on Friday. Spot gold was up 0.07 percent at $1,276.81 an ounce. Among other precious metals, silver gained about 0.7 percent at $17.85 an ounce, but was on track to post a monthly decline.

In US Equity Markets  stocks declined in a volatile session on Friday but were able to partially recover from a sharp fall spurred by news the FBI will review more emails related to Democratic presidential candidate Hillary Clinton's private email use. The S&P 500 lost 0.31 percent, to 2,126.44 and the Nasdaq Composite fell 0.5 percent, to 5,190.10. Earlier in the session, the S&P 500 had risen as much as 0.4 percent after economic data showed the U.S. economy grew 2.9 percent in the third quarter and upbeat earnings from Alphabet Inc. Alphabet shares were up 0.3 percent. Amazon.com suffered its worst day in nearly nine months, down 5.2 percent after the online retailer warned heavy investments in the crucial holiday quarter would hurt profits.

In Bond Markets  U.S. Treasury short-dated yields fell from five-month peaks to trade flat on Friday after the Federal Bureau of Investigation said it will investigate additional emails relating to Hillary Clinton's use of a private server. Benchmark 10-year Treasury notes were down 1/32 in price to yield 1.846 percent, slightly up from 1.843 percent late on Thursday. U.S. 30-year bonds were 9/32 down in price to yield 2.616 percent, up from Thursday's 2.602 percent.

Source: Institute of Trading and Portfolio Management