Australia: -0.02% today.

Nikkei 225 (Japan): +0.98% today.

Europe is flat to down at mid-day:

FTSE 100 (UK): -0.25% at 12:00 PM.

DAX (Germany): -0.14% at 1:00 PM

CAC 40 (France): -0.21% at 1:00 PM

SPY pre market open: +0.2% at 109.95 at 7:15 AM EST

QQQQ pre market open: +0.7% at 7:15 AM

Economic Indicators: The number of building permits and housing starts for September are announced at 8:29 AM EST. The number of building permits issued is expected to be 595K compared to 579K in August. The number of houses started in September is expected to be 610K compared to 598K in August.

A minute later, the producer price index (PPI) is announced for September. It is expected to be flat compared to August. The core PPI, excluding food and oil, is expected to show a 0.1% rise.

Earnings Announcements: Coke (KO) soft drink maker, Forest Labs (FRX) drug maker, and Lockheed Martin (LMT) a defense contractor, before the market opens today.

Earnings Announcements After the Close:Intuitive Surgical (ISRG) surgical robot maker went on a wild ride three months ago on earnings, SanDisk (SNDK) flash storage card maker, and CH Robinson Worldwide (CHRW) logistics company, announce earnings after the close today.

Australia: +0.13% today.

Nikkei 225 (Japan): -0.21% today.

Europe is up at mid-day:

FTSE 100 (UK): +0.66% at 12:00 PM.

DAX (Germany): +1.30% at 1:00 PM

CAC 40 (France): +1.24% at 1:00 PM

SPY pre market open: +0.4% at 109.34 at 7:30 AM EST

QQQQ pre market open: +0.4 at 7:30 AM

Economic Indicators: None.

Earnings Announcements: Gannett (GCI) a newspaper publisher, and Eaton (ETN) a paper maker, before the market opens today.

Hasbro (HAS) a toy maker, announces earnings today.

Earnings Announcements After the Close:Apple (AAPL) iphone, ipod, and computer maker, Texas Instruments (TXN) designs processor chips, Boston Scientific (BSX) makes medical devices including heart stents, announce earnings after the close today.

Australia: -0.45% today.

Nikkei 225 (Japan): +0.60% today.

Europe flat at mid-day:

FTSE 100 (UK): +0.10% at 12:00 PM.

DAX (Germany): -0.24% at 1:00 PM

CAC 40 (France): +0.22% at 1:00 PM

SPY pre market open: +0.1% at 107.78 at 7:20 AM EST

QQQQ pre market open: +0.2 at 7:20 AM

An flat open this morning.

Economic Indicators: None.

Earnings Announcements: Johnson & Johnson (JNJ) maker of drug store products, announces earnings today.

After the Close Earnings Announcements: Intel (INTC) maker of processor chips, Altera Corp (ALTR) makes programmable logic devices, CSX (CSX) railroad freight lines, Linear Technology (LLTC) makes linear integrated circuits, and Audiovox (VOXX) distributor of car radios and cd players, announce earnings after the close.

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: +0.62% today.

Nikkei 225 (Japan): +0.34% today.

Europe at mid-day:

FTSE 100 (UK): +0.68% at 1:40 PM.

DAX (Germany): +1.33 at 2:40 PM

CAC 40 (France): +1.32% at 2:40 PM

SPY pre market open: +0.95% at 106.81 at 8:40 AM EST

QQQQ pre market open: +0.75 at 8:40 AM

A strong open this morning.

Economic Indicators: Initial claims for unemployment insurance last week were 521K, 19K lower than the consensus estimate of 540K. Continuing claims for the week ending 9/26 was 6.04 million, a little lower than the expected 6.1 million.

Wholesale inventories is expected to show a drop of 1% for August when announced at 9:59 AM.

Earnings Announcements: Marriott (MAR) hotel chain, GenCorp (GY) aerospace and defense manufacturer, announce earnings before the open.

CalAmp (CAMP) builds wireless communications systems for firemen, police, and emergency medical services, announces earnings after the market closes.

Alcoa (AA) surprised the market and is trading 6% higher before the market opens.

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.