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Equities Bouncing, Helped by Better Bank Earnings

GLOBAL MARKET/OPINION
  • EQUITIES: US futures bounced well after yesterday's rout - E-mini S&P back above 3400, but VIX still elevated.
  • BANKS: European banks surge on better earnings. Santander, HSBC in focus.
  • FISCAL: With the Senate now on a pre-election break, stimulus package in the near-term now close to impossible. Focus turns to prospect for fiscal aid in November.
  • DATA: Quiet data day, with just US durable goods, consumer confidence due. FOMC still in pre-decision blackout period.
  • EARNINGS: Caterpillar, Merck & Pfizer are due ahead of the bell, with Microsoft reporting after the close.
  • TURKEY: TRY continues to plumb new alltime lows, with the escalation of the spat with France yesterday continuing to undermine market confidence. Reports of further clashes between Russian and Turkish backed forces in Syria also weighing.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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