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WORLD HEADLINES – Global stocks fell for a fifth straight day on Thursday as investors braced for another escalation in a trade war between the United States and China, while emerging-market currencies paused near 15-month lows.
STOCKS – The MSCI All-Country World Index, which tracks shares in 47 countries, was down 0.2 percent. Stocks in Europe opened lower, with the pan-European STOXX 600 index as much as 0.4 percent down.
BONDS – Treasuries traded sideways during the overnight trading session.
COMMODITIES – Oil prices fell as emerging market woes weighed on sentiment. Gold was stronger with spot gold up half a percent.
CURRENCIES – The dollar, considered a safe haven at times of turmoil because of its status as the world’s reserve currency, has generally benefited from the trade conflicts. It has gained 8 percent since the end of March, with currencies in emerging markets taking a hammering.
ECONOMIC DATA – US ADP Non-Farm Employment Change due at 8:15, ISM Non-Manufacturing PMI at 10:00, Natural Gas Storage at 10:30, Crude Oil at 11:00 ET.
Statement at 10:00 ET.
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