Global Markets Mostly Lower

Today 8:57 AM ET (Briefing.com)

S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: flat. The S&P 500 futures trade less than a point below fair value.

Asian markets ended on a mixed note after the release of China's HSBC Manufacturing PMI, which ticked up to 48.3 from 48.0 (expected 48.4). Even though the reading improved, it remained in contraction (below 50) for the fourth month in a row.

In other regional data, Australia's CPI rose 0.6% quarter-over-quarter (expected 0.8%, previous 0.8%), while the year-over-year reading increased 2.9% (consensus 3.2%, prior 2.7%). Also of note, Trimmed Mean CPI rose 0.5% quarter-over-quarter (consensus 0.7%, previous 0.9%). New Zealand's Visitor Arrivals fell 3.0% month-over-month (prior 1.8%), while Credit Card Spending jumped 8.1% year-over-year (last 6.0%). Singapore's CPI rose 1.2% year-over-year (consensus 1.1%, previous 0.4%).
Japan's Nikkei gained 1.1%, closing on its high with support from exporters. Fujitsu, NEC, and Mazda Motor gained between 3.4% and 4.0%. Hong Kong's Hang Seng lost 1.0% after being pressured by consumer and telecom names. Belle International, China Unicom Hong Kong, and China Mobile lost between 2.0% and 4.9%. Casino names finished among the leaders with Galaxy Entertainment and Sands China up 1.5% and 2.5%, respectively. China's Shanghai Composite shed 0.3%, trimming its losses into the close. Growth sensitive names outperformed with Fushun Special Steel and China Vanke up 6.2% and 0.8%, respectively. Major European indices trade modestly lower after registering three consecutive gains. The Bank of England released the minutes from its latest meeting, which indicated unanimous support for continuing asset purchases at GBP375 billion.

Participants received several data points. Eurozone Manufacturing PMI rose to 53.3 from 53.0 (expected 53.0), while Services PMI improved to 53.1 from 52.2 (consensus 52.4). Germany's Manufacturing PMI increased to 54.2 from 53.7 (expected 54.0), while Services PMI jumped to 55.0 from 53.0 (consensus 53.4). French Manufacturing PMI fell to 50.9 from 52.1 (expected 51.9), while Services PMI decreased to 50.3 from 51.5 (expected 51.4). Great Britain's CBI Industrial Trends Orders fell to -1 from 6 (consensus 7), while Public Sector Net Borrowing came in at GBP4.86 billion (expected GBP9.10 billion, previous GBP7.00 billion).
Great Britain's FTSE is lower by 0.1%. ARM Holdings weighs, trading lower by 3.3% after missing bottom-line estimates. On the upside, Associated British Foods is higher by 8.9%. Germany's DAX holds a loss of 0.1%. Infineon Technologies is the weakest performer, down 1.2%. Insurer Allianz outperforms with a gain of 0.7%. In France, the CAC trades down 0.3% with defense contractor Safran leading the retreat with a 3.4% loss.