Quick Overview

• The U.S. Senate set a vote for tonight on a $700 billion financial-rescue plan, along with raising the limit on federal deposit insurance to $250,000 from $100,000. Business and trade groups urged Washington to enact the plan, warning that inaction would have grim consequences
  

• The Institute of Supply Managements' index of manufacturing fell from 49.9 to 43.5, a lot weaker than expected.
  

• Unemployment for the Euro area rose from 7.4% to 7.5% in August.
  

• U.K.'s index of services rose 0.6% in July
  U.K.’s manufacturing fell from 45.3 to 41.0
  

• Japan's Cabinet agreed to a $17 billion stimulus package.
  

• Manufacturing in Australia improved from 47.0 to 47.2
  
  

• The U.S. Department of Energy said:
  Supplies of crude oil rose 4.3 million barrels to 294.5 million barrels,
  Supplies of gasoline rose 900,000 barrels
  Supplies of heating oil supplies rose 1.3 million barrels.
  Refinery use improved from 66.7% to 72.3%
  Gasoline demand fell 4.5% YoY
  Distillate demand fell 8.4% YoY.

• Sales of cars and light trucks fell 35% YoY at Ford, 32% at Toyota and 24% at Honda. GM's fell 16%, Nissan Motor fell 37 %.