Market Update: Monday, October 10, 2016

LPL Financial Research


  • Global markets move up to start week. U.S. equities are trading higher this morning amid gains overseas following a lackluster session on Friday which saw the S&P 500 shed 0.3% as traders digested the nonfarm payrolls report; materials and industrials led to the downside while only healthcare and financials managed slight gains. Overseas, both Europe and Asia are higher, with China’s Shanghai Composite (+1.5%) setting the tone overnight as it posted its largest gain in two months following a week-long holiday and a move by the country’s central bank to reset the renminbi’s peg to the dollar at its lowest point since 2010. Germany’s DAX (+1.1%) and France’s CAC (+0.9) indexes are leading widespread gains in Europe following better-than-expected trade data. Elsewhere, WTI crude oil is adding more than 2%, moving above $51/barrel, after comments out of Russia supporting a global supply cut. COMEX gold is up 0.8%, and the

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