1. Deutsche Bank hits 30-year low
Deutsche Bank (DE:DBKGn) dropped below €10 in early European trade on Friday, hitting a near 30-year low on mounting concerns about the survival of Germany’s biggest lender.
2. Japan slips further into deflation, China’s factory sector struggles
Japan’s national core CPI for August fell 0.5%, more than the expected 0.4% decline year-on-year and the sixth straight drop, matching July's pace. That was despite Bank of Japan’s efforts to provide massive amounts of stimulus to spur inflation.
3. Global stocks lower as Deutsche Bank undermines risk appetite
Concerns over the health of Germany’s largest bank hit global stocks on Friday, undermining risk appetite.
Asian stocks closed mixed on concern of global financial contagion from Deutsche Bank’s woes and after the string of data. Tokyo’s Nikkei 225 slumped 1.46%.
European stocks moved sharply lower on Friday with financial institutions leading the sell-off.
4. Oil slumps more than 1% after two-day rally
Oil prices slumped on Friday as investors took profits following a 7% gain in the last two sessions, amid doubts that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut.
5. U.S. personal spending and inflation data in focus
Market participants will also focus later in the session on personal income and spending for August, along with the Fed’s preferred inflation gauge, the core PCE price index, for the same month, out at 8:30AM (12:30GMT).
Attention will also be paid to the Chicago PMI and the revised Michigan consumer sentiment, both for the month of September.
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