The Traderszone Network

Stronger showing so far
– DAX futures +1.7%
– CAC40 +1.8%
– FTSE +1.3%
Bund futures down 26 at 153.95

Rallying from the lows despite Shanghai Comp Index paring gains and now turning negative
– +197.61
– open 18680.47
– high 18810.05
– low 18486.46
– USDJPY 119.88

Housing data now out
– +0.4% prev
– yy +3.2% vs +3.1% exp vs +3.5%
Softer reading mm and yy lower than previous in line with recent trend
GBPUSD 1.5495 EURGBP 0.7330

Sentiment was also supported by comments from New York Fed President William Dudley on Wednesday who said the prospect of a September rate hike “seems less compelling” than it was only weeks ago given the threat posed to the U.S. economy by recent market turmoil. “Certainly Dudley’s comments show that U.S. policymakers have serious concerns about events in China and the potential ripple out effects,” Michael Hewson, chief market analyst at CMC Markets in London, wrote in a note.

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At the height of the 2008 financial crisis, as Wall Street slashed jobs, Beijing took advantage of the disarray to poach top Chinese financial talent from overseas to help reform its stock markets. A former official at the CSRC, one of a group of 20 high-profile returnees, recalled the CSRC’s appeal to make “sacrifices for the motherland”. “We moved our families back to China and gave up high-paying jobs, because we wanted to contribute,” he said.

Monsanto Co (MON.N), having ditched an audacious $46 billion offer for Syngenta AG (SYNN.VX), may downshift to a humbler strategy of beefing up its crop protection portfolio through other acquisitions, partnerships and licensing agreements. On Wednesday, Monsanto said it was focused on its core businesses and plans to resume its two year, $10 billion share repurchase program, which was put on hold while it was bidding for Syngenta. Monsanto declined to say anything more about its next move, including which companies might be the St.

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The company will kick off the program that allows shoppers to pay for holiday gifts and other products in installments, on August 28, two weeks earlier than last year, Anne Marie Kehoe, vice president of toys, said in a briefing. The move reflects Wal-Mart’s desire to get a head start on a holiday season that is sure to be highly competitive. Toys are an especially big focus for retailers this year, ahead of the December release of “Star Wars: The Force Awakens” – the first in a new “Star Wars” trilogy being produced by Walt Disney Co.