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March E-mini S&Ps (ESH16 -0.63%) are down -0.75% and European stocks are down -1.40% on global growth concerns. Crude oil (CLH16 -3.10%) is down -3.45%, which is undercutting energy producers that are leading the overall market lower with Chevron and Schlumberger down over 1% in pre-market trading. Losses in European stocks were limited after the Eurozone Dec unemployment rate unexpectedly fell to a 4-1/3 year low of 10.4%. Asian stocks settled mostly lower: Japan -0.64%, Hong Kong -0.76%, China +2.26%, Taiwan -0.32%, Australia -1.00%, Singapore -0.89%, South Korea -1.10%, India -1.15%. China's Shanghai Composite closed higher after the PBOC injected 100 billion yuan ($15 billion) into the banking system using reverse repurchase agreements to provide liquidity ahead of the Chinese lunar new year holidays next week.
The dollar index (DXY00 -0.11%) is down -0.05%. EUR/USD (^EURUSD) is up +0.30%. USD/JPY (^USDJPY) is down -0.15%.
Mar T-note prices (ZNH16 +0.21%) are up +9.5 ticks.
The PBOC said it will allow banks to cut the minimum required mortgage down payment to 20% from 25% for first-home purchases to the lowest ever in an attempt to boost China's property market. Also, the minimum down payment for second-home purchases was cut to 30% from 40%.
The Eurozone Dec unemployment rate unexpectedly fell -0.1 to 10.4%, better than expectations of no change at 10.5% and the lowest in 4-1/3 years.
Eurozone Dec PPI fell -0.8% m/m and -3.0% y/y, a faster pace of decline than expectations of -0.6% m/m and -2.8% y/y.
U.S. STOCK PREVIEW
Key U.S. news today includes: (1) Jan New York ISM (Dec +1.3 to 62.0), (2) Kansas City Fed President Esther George's speech about the U.S. economic outlook and monetary policy to the Central Exchange, and (3) Jan total vehicle sales (expected 17.30 million, Dec 17.22 million) and Jan domestic vehicle sales (expected 13.70 million, Dec 13.46 million).
There are 31 of the S&P 500 companies that report earnings today with notable reports including: Exxon (0.64), UPS (1.42), Pfizer (0.52), Baxter (0.32), ADM (0.64), Chipotle (1.81), Yahoo (0.12).
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Eurozone unemployment edges down for 15th month running
By PAN PYLAS - AP - 52 mins ago
LONDON (AP) — Unemployment across the 19-country eurozone fell in December for the 15th month running to its lowest level in a little more than four years, official figures showed Tuesday. (full story)
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FTSE 100 5,956.24 -103.86 (-1.71%)
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