Five Things Everyone Will Be Talking About Today

All about equities today - get caught up on latest moves here

What To Watch: Euro, Fed, Betting Merger

China equities close lower, Europe opens lower, U.S. futures up. Here are some of the things people in markets are talking about this morning.

Shanghai closes lower (again)

The Shanghai Composite Index closed 1.3 percent lower following a volatile session that saw the benchmark rising as much as 4.3 percent and declining 3.9 percent. The PBOC rate cut on Tuesday failed to lift markets, which continue to expect further easing from the central bank. Authorities in China are probing allegations of market malpractice in an effort to find a scapegoat for the selloff.

European markets down

European equities followed Shanghai's lead with markets opening sharply lower before recovering some of those losses. The Stoxx Europe 600 was trading 1.5 percent lower at 10:45 a.m. in London after falling as much as 2.7 percent earlier. The gauge is on course for its worst August since 1998.

U.S. futures higher

U.S. index futures are pointing to a higher open following the sharp sell-off in the last hour of trading yesterday. Tuesday's session saw the biggest reversal of a rally in the S&P 500 since October 29, 2008, with the index now only 1 percent away from erasing all its gains from the end of 2013. 

Schlumberger agrees to buy Cameron

Oilfield services provider Schlumberger Ltd. has agreed to buy Cameron in a deal valued at $14.8 billion. Cameron stakeholders will receive a cash payment of $14.44 and 0.716 Schlumberger shares for each Cameron share.

Oil dividends

With the price of oil showing no sign of recovery, investors are betting that oil majors will start to cut dividends. The collapse in share prices has driven the dividend yield of Royal Dutch Shell Plc. to a 20-year high of 7.7 percent. Shell, which last cut dividends in 1945, insists that the current payout will not be reduced, but increased. 

What we've been reading

This is what's caught our eye over the last 24 hours.

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