OREANDA-NEWS. November 1, 2011. US stocks fell on Monday with Financials (-3.75%) and Basic Materials (-4.5%) as the leaders. S&P 500 index declined 2.5%, Russell 2000 Index –by 2.62%. VIX jumped by 22.14% to 29.96. Chinese Wu announcement, Greek PM referendum decision, MF Global bankruptcy cooled investors’ pessimism.

Of 301 companies reported so far, 224 topped analysts’ expectations in terms of EPS. The economic data were negative.

Chicago PMI declined to 58.4 vs consensus forecast of 59.Asian indices mostly fell on Tuesday. Shanghai stock indices were flat. S&P/ASX 200 declined by 1.52%. Korean Kospi added 0.03%. Nikkei was down by 1.7%. The European stock indices fell in the morning - Dow Jones Stoxx 50 futures fell by 2.81% while Dax futures lost 2.55%. S&P futures lost 1.4%.

In the US, Construction spending for September, ISM Manufacturing for October will be in focus today.

32 S&P 500 companies are to present quarterly earnings reports.