5 Things to Know In the Market today 5.09.2016

1. Oil prices spike 5% on reports of Saudi-Russia cooperation
Oil prices jumped more than 5% on Monday, amid reports that Saudi Arabia and Russia will work together to support the market, fueling hopes of an output freeze.
Crude later pared gains after the top oil producers Saudi Arabia and Russia delivered the rumored joint statement during the G20 summit in China calling for cooperation to support the oil market.

2. Cable jumps on upbeat U.K. service sector activity
The pound rose to more than a one-month high against the U.S. dollar on Monday, boosted by data showing that activity in the U.K. service sector returned to expansionary territory in August, while the greenback remained broadly under pressure.
In a report, market research group Markit said the seasonally adjusted Markit/CIPS services purchasing managers’ index (PMI) rose to 52.9 last month from a reading of 47.4 in July, beating expectations for a reading of 50.0

3. China and euro zone PMI readings mixed ahead of U.S. ISM services
Growth in China's services sector picked up in August as new orders expanded modestly and employment stabilized, and business expectations rose to a six-month high.
To the contrary, the euro zone services PMI unexpectedly dropped to 52.8, coming in under forecasts for the index to remain stable at 53.1 and bringing overall business growth in the region to a 20-month low.

4. Global stocks mostly higher with Wall Street closed
Asian shares closed higher on Monday while European equities advanced after a weaker-than-expected U.S. jobs report prompted investors to trim expectations that the Federal Reserve would hike interest rates as early as this month.

5. BoJ’s Kuroda sees room for more easing, no limit to monetary policy
Bank of Japan (BoJ) governor Haruhiko Kuroda showed willingness to use further easing measures, including new tools, dismissing concern that the central bank was reaching the limit of its capacity.

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