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Asian markets were mixed in overnight trading with the Nikkei down 0.67 percent, ending a 7-day winning streak. Europe is higher and U.S. futures are modestly higher.
Chinese flash PMI climbed to 49.1 in October, reaching a three-month high. But this is below the contractionary reading of 50. Jim Rogers tells us that the China boom could all come apart over water >
The eurozone flash composite PMI report hit a 40-month low of 45.8 in October. This was the third consecutive monthly decline.
Earnings of Dow Chemicals leaked early, and the chemical maker announced that it would cut 2,400 jobs worldwide and shutter 20 plants. Meanwhile, its third quarter profits plunged 39 percent.
PMI for October will be out at 8:58 a.m. ET, followed by new home sales for September at 10 a.m. ET. Economists polled by Bloomberg expect PMI to hold steady at 51.5, and new home sales are expected to rise to a 385K annual rate. Follow the release at Money Game >
Facebook beat expectations in third quarter when it reported earnings of $0.12 per share, on revenue of $1.26 billion. It's advertising revenue climbed 32 percent year-over-year, up from 28 percent the previous quarter. The stock is surging in the pre-market.
Netflix beat earnings expectations when it reported earnings of $0.13 per share, on revenue of $905 million. But the company added 1.16 million subscribers in the third quarter and is expected to miss its year-end target of 7 million. The stock therefore tanked after hours. Now see what America's biggest economies are revealing about the global economy >
German business confidence unexpectedly declined to a 2.5-year low of 100 in October. This was the sixth straight monthly decline.
The FOMC announcement for the October 23-24 meeting is scheduled for 2:15 p.m. ET. Expectations are that rates will remain unchanged and investors will be watching for comments on the economy and employment. Follow the release at Money Game >
Bank of England governor Mervyn King said the monetary policy committee stands ready to boost stimulus measures if the recovery in the UK economy slows. Check out the 20 worst economies in the world >
Bonus - Business Insider is ringing the opening bell today.
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