5 Things to Know In the Market Today

16.09.2016 / 14:01

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1. Summers sees no compelling case for Fed rate hike
Former U.S. Treasury Secretary and White House economic adviser Larry Summers stated late Thursday that inflation and economic conditions stateside provided no reason for the Federal Reserve (Fed) to hike interest rates next week.

2. Inflation and consumer sentiment on tap
A deluge of data pushed rate hike odds lower in the prevision session, while market participants looked ahead on Friday to the last two major pieces of the puzzle for the Fed to digest before announcing its policy decision next Wednesday. Barring some housing market data at the beginning of next week, August inflation data, out at 8:30AM ET (12:30GMT), and the Michigan consumer sentiment for September will be the last two key factors that could influence the Fed’s decision.

3. Deutsche Bank slumps 7% on $14 billon DoJ fine
Shares in Deutsche Bank AG NA O.N. (DE:DBKGn) tumbled more than 7% on Friday after the U.S. Department of Justice (DoJ) slapped the German financial institution with a $14 billion fine to settle an investigation into its selling of mortgage-backed securities in the run-up to the financial crisis.

4. Global stocks mixed ahead of Friday’s data with eyes on Fed impact
Global stocks were mostly mixed on Friday as investors waited for data stateside to gauge their possible impact on the Fed’s policy decision next week.
U.S. futures pointed to a slightly lower open on Friday as investors took profit after the prior session’s solid 1% advance.

5. Oil drops on supply glut worries, rig count ahead
Oil prices fell on Friday on worries that U.S. rig counts would continue to rise and that returning Libyan and Nigerian exports would stoke a global supply glut.

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5 Things to Know In the Market Today

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