Rapid Fire: September 2, 2015

September 2nd, 2015 by

Here’s your round-up of quick-hit news for Wednesday!

  • After trading concluded overnight on Wednesday, Chinese markets close for the country’s “Victory Day” holiday. They will reopen on Monday, giving weary traders a chance to catch their breath after 10 weeks of losses.
Source: Google Finance

The Shanghai Composite index over the last 12 weeks. Source: Google Finance

  • After opening lower, crude oil prices gain on Wednesday morning, though the world’s most traded commodity is unlikely to reverse its current downtrend. WTI crude traded above $45/bbl while Brent crude surged back above $50/bbl.
  • The New York Stock Exchange once again (4 out of 5 trading days) invokes the obscure Rule 48 on Tuesday, a volatility mitigation measure that drops the requirements for market makers to announce price indications (whether they are buying or selling) before markets open.