Daily Market Update

Daily Market Update

Daily Market Update
Stocks recover but caution remains

Asian stocks recovered on Friday but markets are tinged with doubt over the global economy. Markets in India and China closed for public holidays but Hong Kong saw a revival in shares despite continuing political unrest. Investors are awaiting jobs data from the US this morning with forecasts that the Labor Department will deliver good news; around 220,000 new jobs is the prediction following a dip in growth in August. Europe’s shares have rebounded too following investors disappointment yesterday that the ECB didn’t reveal the full extent of its asset-buying program or give any indication of quantative easing. Germany’s exchange is closed for a public holiday. US stock futures are trending higher.
Today’s data

Employment figures for September from the Labor Dept. at 8.30am ET
International trade data at 8.30am ET
Services PMI indicators at 9.45am ET
ISM Non-manufacturing Index at 10am ET
Millions affected by JP Morgan data breach

JP Morgan has revealed the extent of a cyber crime that involved the hacking of computer systems of 7 major banks during the summer. JP Morgan announced yesterday that more than 80 million of their customers were affected including 76 million households and 7 million small businesses. It says that the data theft only involved contact details rather than financial information and that no unusual fraud incidents have been linked with the attack. Read the full story.
Facebook to enter healthcare space?

In a move that will make privacy campaigners’ blood boil it’s reported that Facebook is considering whether it should add new healthcare and advice capabilities. Google and Apple are already moving into the space and Facebook is said to be talking to medical organisations about using the social network to connect people with certain conditions. Read the full story.
A million faulty GM motors still on the roads

General Motors estimates that 1 million of its vehicles that are at risk of failing through a faulty ignition switch may still be on the road. With 2.4 million vehicles recalled and just over 1 million already repaired there is still some way to go. GM says that in any recall there is a percentage that will not come back for repair but it is taking extra steps to contact owners who have not responded so far. Read the full story.