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Markets are called to open higher this morning. This is what's happening today:
• Ex-JPMorgan Traders Said to Face U.S. Charges Over ‘London Whale’ Losses
• German 2Q GDP Growth Said to Be Estimated 0.75%
• Euro Area’s Longest Recession Seen Over as Champagne Kept on Ice
• SNB’s Danthine Says Rate Increase Would Mean End of Franc Ceiling
• K+S May Leave DAX After Russian Cartel Breakup, CEO Tells Welt
• Siemens Trains for Deutsche Bahn Undergo Licensing, Bild Says
• European Stocks Cheaper Than Last Recovery as Profit Rebound Seen
• U.S.-Russia Chill Prevails as Talks Begin in Washington
• Fiat Industrial Says EU24.4m of Withdrawal Rights Exercised
• Merkel Returns From Vacation to Defend Her Lead Ahead of Vote
• Telekom Austria (TKA AV) 7:00am, 2Q rev. est: EU1.04b
• Bilfinger (GBF GY) 7:30am, 2Q adj. EPS est: EU1.31
• Prudential (PRU LN) 8:00am, 1H adj. EPS est: GBP0.39
The euro-area economy probably edged back to growth last quarter for the first time since 2011, ending the longest recession since the single currency union started 14 years ago.
Gross domestic product in the 17-nation region expanded 0.2 percent in the three months through June after shrinking for the previous six quarters, according to the median of 21 economist forecasts in a Bloomberg News survey. The European Union’s statistics office in Luxembourg will release the data at 11 a.m. on Aug. 14. The German economy probably expanded about 0.75 percent, exceeding the 0.6 percent economists predict, according to a government estimate.
The Dollar Index is setting the stage for a rally after falling to its lowest level since mid-June as traders position themselves for a stronger currency. The measure, which IntercontinentalExchange Inc. uses to monitor the greenback against the currencies of six major U.S. trading partners, has tumbled 4.5 percent to 80.963 from last month’s high of 84.753 on July 9. The losses have slowed, and trading patterns show any close above 82.41 would pave the way for further gains, according to Bank of America Corp.
Good day and happy trading!
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