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WORLD HEADLINES – The daughter of Huawei’s founder, a top executive at the Chinese technology giant, was arrested in Canada and faces extradition to the United States, roiling global stock markets as it threatened to inflame Sino-U.S. trade tensions afresh.
STOCKS – Global stocks sold-off in early trading as 3 percent falls for the tech sector, miners and also carmakers kicked London, Frankfurt and Paris to two-year lows.
BONDS – Treasury yield curve remained inverted between two- and five-year zones, with five-year notes yielding 2.763 percent, below 2.778 percent on two-year notes.
COMMODITIES – Traders were waiting to hear from Vienna about what kind of cuts OPEC and other oil producers like Russia could make to their output.
CURRENCIES – The euro barely budged at $1.1338 and the Canadian dollar languished near the 18-month low it had hit the previous day after cautious noises from the Bank of Canada.
ECONOMIC DATA – ADP Non-Farm Employment Change due at 8:15, CAD Trade Balance at 8:30, BOC Gov Poloz Speak at 8:35, US ISM Non-Manufacturing PMI at 10:00, Crude Oil Inventories at 11:00, Fed Chair Powell Speaks at 18:45 ET.
COMMODITY FUTURES, OPTIONS, AND FOREX TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS.