Europe is clearly not the only continent struggling as June’s numbers came out fro China today as well and the country’s manufacturing is down 0.2 points which keeps China under the 50pt mark still.
What other news can be expected today? The PMI Manufacturing Index, ISM Manufacturing Index and Construction Spending report will be announced. The PMI at 9am with the ISM Mfg. and Construction both announced after at 10am.
As for the market, last Friday at the close the S&P was up 2.49% while the 10-year treasuries were down 0.36%. The close also saw the Dollar with a 0.36% gain and Oil down 1.55%.
And finally, for the breaking news of the day, Barclays Chairman Marcus Agius announced his resignation after the bank was found guilty of price fixing and required to pay $453 in fines. Between 2005 and 2009 the bank had submitted lower, false figures on its interbank borrowing. Barclays also encouraged individual traders to fudge figures to protect dealings. This false data from Barclays combined with other banks figures is what sets the LIBOR rate.