Stock Market Crash 2016,
The U.S. Stock Market takes A Clinton and wins the race to the bottom as the Mother of Miserable, The Wife of a Rapist Hillary Clinton finds out about the FBI investigation into her secret email server, top secret emails bought, sold and hacked, and The Bill, Hillary and Chelsea Clinton Foundation is only the beginning of the end as 13 Hours the movie about Benghazi and the White House breaks all records.
Oil is sinking once again, taking mining and energy
shares with it. Chinese markets are falling, and Europe is firmly in the red. If you're not killed by some Islamic Radical Jihadist the stock market will kill you,
Little wonder U.S. stock futures are down more than
1%.
Here are the six things you need to know before the
opening bell.
1. China bear: The Shanghai Composite closed down
3.6% Friday, more than 20% below its recent high. Persistent worries about
China's cooling economy and sinking currency have pushed the index into bear
market territory.
Related: Fear & Greed Index
2. Oil below $30: Crude oil futures remain as
volatile as ever, and are down nearly 5% -- crashing below $30 in morning
trading. Shares in BHP Billiton (BBL) fell 5% at the London open after it took
a $7 billion write down on its onshore U.S. oil assets.
3. More stock market movers: Anglo American, GE,
Fiat Chrysler: Continuing the theme of battered commodities, Anglo American
(AAUKF) is down another 8% in early trading. Shares of natural gas company
ONEOK (OKE) plunged nearly 6% after hours.
Fiat Chrysler (FCAU) shares are up 1% in Milan
after heavy falls Thursday when it confirmed it is being sued by a U.S. dealer
over claims the automaker tried to inflate sales figures. Fiat Chrysler flatly
denies the allegations.
GE (GE) has agreed to sell its appliance business
to China's Haier for $5.4 billion.
4. Earnings: Wells Fargo (WFC), Citigroup (C), U.S.
Bancorp (USB), PNC (PNC), and BlackRock (BLK) are expected ahead of the open.
5. Economics: At 8:30 am ET, a U.S. retail sales
report for December 2015 is due from the Census Bureau, and the Bureau of Labor
Statistics will have December's producer price index.
Also at 8:30 am, the Federal Reserve Bank of New
York will post the Empire Manufacturing Survey for January. The Federal
Reserve's report on industrial production and capacity utilization is expected
at 9:15 am. Then, at 10 am, the University of Michigan will update its consumer
sentiment index for January.
6. Markets overview: European markets are all in
the red in early trading, while Asian markets also ended down, with Hong Kong
off by 1.5% and the Nikkei down 0.5%.
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