* US stocks gave up earlier gains with DJ closing -1.5% (380 points lower) and S+P -1.11% snapping their longest monthly win streak since 1959 with Nasdaq posting a monthly loss for the first time in eight months.
* Asian stocks follow with Nikkei -1.56% and Aussie ASX -0.71% .
* China outperformed after the Caixin manufacturing gauge came in above expectations, hitting a 6 month high of 51.6.
* US 10-year Treasury yield held just below 2.9 percent.
* Oil steady.
* BoJ Kataoka cautioned against a premature exit from the BoJ ultra-loose monetary policy and called for a ramping up of the bank’s massive stimulus program, says There is still a long way to go before considering a change in monetary policy stance”.
* Fed Kashkari (non-voter/dove) still sees slack in labour market. Fed should allow wage growth and inflation to build.
* US Tariffs on steel and aluminium could be announced today. Trump told aides he wants 25% on steel and 10% on aluminium from all countries.
* Latest Italian election Shadow polls flag a risk of unstable outcome with centre right at 36.9%, 5 Stars at 29.5% and centre left at 27.5%. Share of undecided voters still at above 34%.
* Data today sees Spanish GDP ay 8am followed by Markit Mfg PMIs from 8.15am-9am.
* UK data has seen UK nationwide house prices -0.3% mom and 2.2% yoy after revisions higher to the prev month, with Mortgage Approvals and M4 money supply alongwith Markit UK PMI Mfg due at 9.30am.
* Eurozone Unemployment Rate due at 10am.
* US data sees Personal income,PCE deflator and initial jobless at 1.30pm followed by Mfg PMI at 2.45pm and ISM Mfg/prices paid at 3pm.
Speakers include ECB Nouy at 10.30am with ECB Lane at 12.10pm with all eyes on Fed’s Powell before Senate Banking Committee at 3pm and Feds Dudley at 4pm.