Australia: +1.05% today.

Nikkei 225 (Japan): closed today.

Europe up at mid-day on strong earnings:

FTSE 100 (UK): +1.45% at 12:00 PM.

DAX (Germany): +1.69 at 1:00 PM

CAC 40 (France): +1.46% at 1:00 PM

SPY pre market open: +0.7% at 108.02 at 7:20 AM EST

QQQQ pre market open: +0.6 at 7:20 AM

An up open this morning.

Economic Indicators: None.

Earnings Announcements: Fastenal (FAST) seller of screws and other fasteners, Charles Schwab (SCHW) online broker, announce earnings today.

Australia: +0.06% today.

Nikkei 225 (Japan): +1.87% today.

Europe at mid-day:

FTSE 100 (UK): -0.09% at 11:40 AM.

DAX (Germany): -0.19 at 12:40 PM

CAC 40 (France): -0.20% at 12:40 PM

SPY pre market open: +0.1% at 106.74 at 7:00 AM EST

QQQQ pre market open: -0.2 at 7:00 AM

A flat to down open this morning.

Economic Indicators: The trade balance for August is expected to be -33billion when announced at 8:29 this morning.

Earnings Announcements: Material Sciences (MASC) makes disc brake noise and vibration dampers, announces earnings today.

The market fell 0.25% yesterday from its pre-market rise of 0.95%. So the US session was weak.

Australia: +0.87% today.

Nikkei 225 (Japan): +1.11% today.

Europe at mid-morning:

FTSE 100 (UK): +0.08% at 11:20 AM.

DAX (Germany): +0.21 at 12:20 PM

CAC 40 (France): +0.23% at 12:20 PM

SPY pre market open: +0.05% at 105.57 at 6:20 AM EST

QQQQ pre market open: +0.1% at 6:20 AM

A flat open this morning.

Economic Indicators: Crude oil inventories for last week are announced at 10:30 AM EST.

At 2 PM The Federal Reserve announces the change in consumer credit. It is expected to drop by $10 billion for August, though the drop may be less because of the cash for clunkers program.

At 2 PM the Treasury budget for September is expected to show a deficit of $78 billion. Year over year, the deficit is $1,400 billion.

Earnings Announcements: Family Dollar Stores (FDO) sells paper products to clothes at a discount, Monsanto (MON) sells seeds to farmers and genetically modifies seeds, Costco (COST) stores sell everything from food to beds at a small mark up, announce earnings before the open.

Alcoa (AA) aluminum maker, announces earnings after the market closes.

Australia: +1.09% today.

Nikkei 225 (Japan): +0.18% today.

Europe at mid-morning:

FTSE 100 (UK): +1.50% at 11:20 AM.

DAX (Germany): +1.57 at 12:20 PM

CAC 40 (France): +1.32% at 12:20 PM

SPY pre market open: +1.1% at 105.14 at 6:20 AM EST

QQQQ pre market open: +0.8% at 6:20 AM

A strong open this morning.

Economic Indicators: None.

Earnings Announcements: Pepsi Bottling Group (PBG), Chattem Inc (CHTT), announce earnings before the open.

Yum! Brands (YUM) announces earnings after the market closes.

Australia: -0.80% today.

Nikkei 225 (Japan): +0.59% today.

Europe at mid-morning:

FTSE 100 (UK): +0.14% at 11:00 AM.

DAX (Germany): +0.2% at 12:00 PM

CAC 40 (France): -0.14% at 12:00 PM

SPY pre market open: +0.7% at 103.19 at 6:00 AM EST

QQQQ pre market open: +0.8% at 6:00 AM

Pre-market open, the indices are much stronger than the Europe. So it looks like a strong open this morning.
Economic Indicators: Institure of Supply Managers (ISM) service index is expected to reach 50 when announced today at 9:59 AM EST. Above 50 is expansion, below 50 is contraction.

Earnings Announcements: Robbins & Meyers (RBN) builds pumps, valves, and other equipment for oil wells and other industries, and Mosaic Corp (MOS) makes phosphate fertilizer, announce earnings after the close.

Friday’s Economic Surprises:The average workweek for September was 33 hours, not 33.1 hours as expected and average hourly earnings rose 0.01% not 0.2% and non-farm payrolls dropped by 263K rather than 180K. Combining all three reduces overall consumer income and hence spending.

Factory orders for August was expected to rise 0.7%, instead it fell 0.8%.

Australia: -1.99% today.

Nikkei 225 (Japan): -2.47% today.

Europe at mid-morning:

FTSE 100 (UK): -0.85% at 12:00 PM.

DAX (Germany): -0.68% at 1:00 PM

CAC 40 (France): -1.18% at 1:00 PM

SPY pre market open: -0.1% at 102.87 at 7:00 AM EST

QQQQ pre market open: -0.0% at 7:00 AM

Economic Indicators: The unemployment rate for September is expected to rise slightly to 9.8% when announced at 8:29 AM EST.  The non-farm payrolls is expected to show a drop of 175K in September.  Important for consumer spending, the average work week is expected to be flat at 33.1 hours in September,  but hourly earnings are expected to show a rise of 0.2%.  More money in workers’ pockets.

Factory orders, announced at 9:59 AM, are expected to be flat for August.  They are down 25% from a year ago.

Earnings Announcements: None.

Australia: -1.24% today.

Nikkei 225 (Japan): -2.50% today.

Europe at mid-day:

FTSE 100 (UK): -0.07% at 10:30 AM.

DAX (Germany): +0.66% at 11:30 AM

CAC 40 (France): -0.18% at 11:30 AM

SPY pre market open: +0.2% at 105.15 at 5:30 AM EST

QQQQ pre market open: +0.3% at 5:30 AM

Economic Indicators: None.

Earnings Announcements: Cal-Maine Foods (CALM) sells eggs, TRC Companies (TRR) engineering consultants specializing in building air quality, announce earnings before the market opens.

Australia: -0.17% today.

Nikkei 225 (Japan): -2.64% today.

Europe is down slightly at mid-day:

FTSE 100 (UK): +0.5% at 11:30 AM.

DAX (Germany): +0.14% at 12:30 PM

CAC 40 (France): +0.05% at 12:30 PM

SPY pre market open: +0.0% at 105.15 at 7 AM EST

QQQQ pre market open: -0.5% at 7:00 AM

Probably a lower opening since the Nasdaq is down and leads the S&P.

Economic Indicators: Durable goods orders is announced at 8:29 AM EST. It is expected to show a 0.4% rise in August over July. July’s increase was 5.1% mostly from cash for clunkers. If you take out transportation, the durable goods increase is expected to rise 1%. So car sales are now a drag on durable good orders.

The Michigan Sentiment survey for September is expected to be unchanged at 70.5.

New home sales for August is announced at 9:59 AM. It is expected to show that 440K homes were sold compared to 433K the month before.

Earnings Announcements: KB Homes (KBH) a home builder, announces earnings before the market opens.

Australia:   -0.69% today.

Nikkei 225 (Japan): +1.67 today.

Europe is down slightly at mid-day:

FTSE 100 (UK): -0.09% at 11:50 AM.

DAX (Germany):  -0.28% at 12:50 PM

CAC 40 (France): -0.33% at 12:50 PM

SPY pre market open: -0.0% at 106.18 at 7 AM EST

QQQQ pre market open: +0.1% at 7:00 AM

Economic Indicators: Initial claims for unemployment for last week comes out at 8:30 AM. It is expected to be 1% higher than last week at 550,000 claims. The number of continuing claims is expected to drop slightly to 6.18 million.

Existing home sales for August is announced at 9:59 AM.  It is expected to show that the annualized rate rose to 5.35 million homes from 5.24 million the month before.

Earnings Announcements: McCormick and Company (MKC)  sells spices, American Greetings (AM) greeting card company,  3Com Corp (COMS) makes routers and switches,  announce earnings before the market opens.

Lyris Inc (LYRI) business software, announces earnings today.

Earnings Announcements After the Close:Research in Motion (RIMM) maker of the Blackberry,  announces earnings after the close.

Australia: +0.64 today; +1.42% closed today.

Nikkei 225 (Japan): closed today.

Europe is up at mid-day:

FTSE 100 (UK): +0.84% at 11:00 AM.

DAX (Germany): +1.20% at 12:00 PM

CAC 40 (France): +0.79% at 12:00 PM

SPY pre market open: +0.75% at 107.24 at 6 AM EST

QQQQ pre market open: +0.68% at 6:00 AM

Economic Indicators:The FHFA Housing Price Index is announced at 9:59 AM EST It is expected to show a rise of half of a percent in July.

Earnings Announcements: Carnival Corp (CCL) cruise line, and Carmax (KMX) sells used cars, and ConAgra (CAG) food company selling Chef Boyardee and Swiss Miss among others, announce earnings before the market opens.