West Texas Intermediate for October delivery was trading 1 percent lower at $46.95 a barrel at 5:57 a.m. ET, following yesterday's decline. Goldman Sachs Group Inc. has warned that any agreement to freeze output at next month's informal OPEC talks could prove to be self-defeating as it would benefit other suppliers. The recent rally in prices, which saw oil enter a bull market wasn't enough to stop withdrawals from the ETF which tracks oil prices, with the U.S. Oil Fund losing the most since March last week.
The MSCI Asia Pacific Index added 0.1 percent overnight, as pressure from crude prices and the strengthening yen was outweighed by advances in health-care and consumer staples. In Europe, the Stoxx 600 was 0.9 percent higher at 6:05 a.m. ET, with equities boosted by the positive PMI data released earlier. S&P 500 futures added 0.3 percent.
Bayer, Monsanto move closer to deal
Bayer AG and Monsanto Co. are making progress towards a deal in the coming weeks, according to people familiar with the matter. The back-and-forth between the two companies that began with Bayer's initial offer in May could end soon as negotiations are progressing on the purchase price. In other corporate news, Volkswagen AG reached a deal with a parts supplier to end a dispute that saw production halted at some of its factories
Clinton says she's fine
Democratic presidential nominee Hillary Clintonstrongly rejected speculation fermented by her Republican rival Donald Trump and his supporters that she is in poor health during an appearance on ABC’s "Jimmy Kimmel Live." Donald Trump, who may be softening some of his campaign pledges, still faces an uphill battle in his run for the White House, with even Texas proving less warm than usual to a republican nominee.
What we've been reading
This is what's caught our eye over the last 24 hours.
Odd Lots Podcast: The economy is stagnant and old people are partly to blame.