OVERNIGHT MARKETS AND NEWS

Dec E-mini S&Ps (ESZ16 -0.64%) are down -0.55% and European stocks are up +0.22%. Weakness in energy producers is leading U.S. stocks lower as the price of crude oil (CLV16 -2.31%) tumbled -2.27% after the IEA projected that the global crude oil glut will persist through 2017 due to declining demand in China and India. The IEA just last month had estimated that the global oil market would return to equilibrium this year. Gains in European stocks were limited after a gauge of German ZEW investor confidence was unchanged, weaker than expected. Asian stocks settled mixed: Japan +0.34%, Hong Kong -0.32%, China +0.05%, Taiwan -0.07%, Australia -0.23%, Singapore -1.91%, South Korea +0.49%, India closed for holiday. Asian stocks found support on reduced Chinese economic concerns eased after China Aug industrial production rose more than expected.

The dollar index (DXY00 +0.22%) is up +0.17%. EUR/USD (^EURUSD) is down -0.02%. USD/JPY (^USDJPY) is up +0.33%.

Dec T-note prices (ZNZ16 +0.06%) are up +4 ticks.

The German Sep ZEW survey expectations of economic growth was unch at 0.5, weaker than expectations of +2.0 to 2.5.

China Aug industrial production rose +6.3% y/y, stronger than expectations of +6.2% y/y.

U.S. STOCK PREVIEW

Key U.S. news today includes: (1) Treasury auction of $15 billion of 30-year T-bonds, and (2) Aug monthly budget statement (expected -$105.5 billion, Jul -$112.8 billion).

Russell 1000 companies that report earnings today: none.

U.S. IPO’s scheduled to price today: none.

Equity conferences today include: Barclays Global Financial Services Conference on Mon-Wed, Morgan Stanley Global Health Care Conference on Mon-Thu, B.Riley & Co. Consumer Conference on Tue, Raymond James North American Equities Conference on Tue, Bank of America Merrill Lynch Global Real Estate Conference on Tue-Wed, Deutsche Bank Technology Conference on Tue-Wed, Hart Energy DUG Eagle Ford Conference on Tue-Wed, KeyBanc Basic Materials & Packaging Conference on Tue-Wed, Credit Suisse Basic Materials Conference on Tue-Thu, Bank of America Merrill Lynch Power & Gas Leaders Conference on Wed, Credit Suisse European Industrials Conference on Wed, Deutsche Bank Metals and Mining Conference on Wed, Mizuho Investment Conference on Wed, Peters & Co.Limited Energy Conference on Wed, Bank of America Merrill Lynch Media, Communications & Entertainment Conference on Wed-Thu, Morgan Stanley Laguna Conference on Wed-Fri, Bank of America Merrill Lynch Japan Conference on Thu, BMO Capital Markets Back to School Education Conference on Thu, UBS Best of Americas Conference on Thu, Citi Global Industrials Conference on Fri, Kazakh Drilling Roundtable – 2nd Annual on Fri.