The Traderszone Network

BENGALURU/SYDNEY (Reuters) – The global economy finished last year on a fragile footing, with factory activity in China shrinking for the 10th month running in December while a pick-up in the euro zone was tepid, suggesting more policy stimulus may be in the pipeline. Coming on a day of turmoil in Asian stock markets after China’s central bank fixed the yuan (CNY=) at a 4-1/2 year low, the data point to a further dose of the sluggish growth and inflation, weak demand and jittery financial markets that characterised 2015.

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Oil prices and credit downgrade worries weighed on the oil company last month.

General Motors Inc and Lyft Inc Monday announced an alliance to develop an on-demand network of autonomous vehicles as well as a $500 million investment by the automaker as part of a $1 billion fund-raising round by the ride-sharing service. The two companies said the partnership, which involves one of GM’s largest investments in another company, stemmed from their shared view that autonomous vehicles will first reach consumers as part of a ride-sharing service, rather than vehicles owned by drivers.

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US stock market open 4 January 2016
– S&P -21pts to 2022 
– Dow -130pts to 17295
– Nasdaq -110pts to 4896 
US 10 year yields 2.22% -4bp
Watch the early exchanges. There’s going to be some catch up to the weekend/overnight news but if we see a quick reversal then that could change the trading landscape for today. Conversely, if the losses are maintained then that could sour sentiment further

Squeaks out a new day high…
The USDCHF has squeaked out a new day high and completed a lap that saw the pair first move sharply lower and then back higher.  

Highlights of the Canadian December manufacturing PMI from RBC:
– Prior was 48.6
It broke the October survey all-time low of 48.0 (however the series only began at the start of 2013 so that doesn’t say that much).

This Fool believes that Apple needs to step up its game in these three areas with next year’s iPhone 7.