Overseas Trading: Oil Weighs on Global Stocks

Traders are awaiting more economic data from China later this week

Aug 10, 2016 at 8:40 AM
facebook X logo linkedin


Stocks in Asia finished the day mixed as traders await another round of economic data out of China later in the week. Crude oil put pressure on the markets today, with oil prices dipping on initial estimates from the American Petroleum Institute which pointed to a rise in U.S. stockpiles, adding to existing oversupply concerns. China's Shanghai Composite closed 0.2% lower, while Hong Kong's Hang Seng added 0.1%, and the South Korean Kospi finished essentially flat.

Meanwhile, Japan saw better-then-predicted data in the manufacturing and service sectors, but the news failed to translate into major gains as the yen strengthened against the dollar, weighing on exporters, including major automakers. As such, the Nikkei finished the day down 0.2%.

European stock markets are in the red at midday, with lower oil weighing on stocks. Corporate earnings remained in focus today, but strong gains from insurance stocks and British security firm G4S Plc were offset by losses in the energy sector. So far London's FTSE 100 has given back 0.1%, while France's CAC 40 and the German DAX are each off 0.2%.

overseas stocks august 10

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI