Asian shares were mixed as investors waited for further trading catalysts. Gold touched a record high as Middle-East tensions stoked demand and investors positioned for the US presidential election. China’s CSI 300 Index climbed after the nation’s banks cut their benchmark lending rates, adding to optimism over recent stimulus measures. Shares also advanced in South Korea, Taiwan and Australia, but fell in Hong Kong. US equity futures were little changed after the S&P 500 notched up a sixth straight weekly increase, boosted by corporate earnings and signs of economic resilience. Financial markets are being shaped by wagers on the health of the US and Chinese economies on the one hand, and the impact of hostilities in the Middle East and geopolitics on the other. The decision by Chinese banks to cut lending rates came after officials have implemented a series of measures to revive economic growth and bolster the housing market. China’s banks lowered their one-year loan prime rate, on which most new and outstanding loans are based, to 3.10% from 3.35%, and reduced the five-year gauge to 3.60% from 3.85%. Gold climbed to hit an all-time high of about $2,730 an ounce, while silver, palladium and platinum also rose. In the Middle East, Israel is discussing its attack on Iran after a Hezbollah drone exploded near Prime Minister Benjamin Netanyahu’s private home at the weekend. Investors are also boosting gold holdings ahead of what’s expected to be a tight US presidential election. The yen rose for a second day against the dollar as traders positioned for Japan’s parliamentary election scheduled for Sunday. The ruling coalition of the Liberal Democratic Party and Komeito may fall below the threshold of 233 seats needed for a parliamentary majority, according to an Asahi poll. Finance ministers and central bank chiefs from around the world gather in Washington this week for the annual meeting of the International Monetary Fund and World Bank. Hanging over the meeting is the grinding Russia-Ukraine war and a toss-up US presidential election that offers starkly different economic outcomes for the world. Bitcoin came close to $70,000 on Monday as a spurt of inflows into exchange-traded funds for the largest digital asset as well as optimism about the outlook for US regulations supported sentiment. In US earnings this week, Tesla Inc. faces questions on its production targets and regulatory challenges after the unveiling of its much-hyped Cybercab failed to enthuse investors and quell concerns over its recent vehicle sales. Boeing Co. will also have to sooth investors increasingly concerned over production delays, depleted financial resources and labor strife. Striking workers will vote on Oct. 23 to ratify a tentative agreement on a new contract the company and their union reached at the weekend, including a wage increase of 35% spread over four years. Investors are positioning for the US election in about two weeks as odds tilt toward Trump winning the White House and Republicans controlling Congress. Traders have already begun ramping up bets on assets which had thrived in the wake of the former president’s 2016 victory, and are now looking to the impact on proposed policies including a lift in trade tariffs.
Nikkei +0.12% Hang Seng -1.32% CSI +0.58% Shanghai +0.49% Shenzen +2.03%
Eur$ 1.0863 CNH 7.1160 CNY 7.1040 JPY 149.29 GBP 1.3042 CHF 0.8649 RUB 95.2501 TRY 34.2778 WTI$ 69.66 +0.64% Gold 2,728 +0.26% BTC 69,111 +0.51% ETH 2,738 +1.01%
S&P -0.05% Nasdaq -0.16% EuroStoxx -0.16% FTSE +0.07% Dax -0.25% SMI -0.10%
Macro :
- Bitcoin Flirts With $70,000 After $2.4 Billion Inflow Into ETFs
- Goldman Sachs Sees Acceleration of Buyback Growth Into 2025
- JPMorgan Lends $1B to Panama for Budget Gap
- JPMorgan Lends $1B to Panama for Budget Gap
- MicroStrategy, Coinbase Shares Gain as Bitcoin Rally Continues
- Australia to examine 66 military export permits to Israel approved before Gaza conflict
- US Travelers Cut Holiday Trips Short on Lasting Inflation Pain
- Carson Block Says ‘Close Your Eyes and Buy’ US Stocks, Not China
- Hedge Funds Unwind Risk in Utilities by Most on Record: Goldman
- Global Cocoa Deficit Set to Narrow to 30k Tons in 2024-25: BMI
Keep an eye on :
Keep an eye on :
- ARYN SW : Aryzta 3Q Revenue EU552.2M
- ASML NA : ASML Shows Chasm in Chip Land: AI Winners Versus Everyone Else
- BARN SW : Global Cocoa Deficit Set to Narrow to 30k Tons in 2024-25: BMI
- BBVA SM : GQG Partners Sells Entire Stake in BBVA Over Sabadell Bid: FT
- BA US : Boeing, Union in Indirect Talks Aided by Biden Official Su
- BOO LN : Daily Mail speculates that Fraser Group (26% owner of Boohoo) as well as Next may be interested in buying some Boohoo brands
- CI US : Cigna Is Said to Resume Merger Discussions with Humana
- DA US : Auto Supplier Dana Is Said to Explore Sale of Off-Highway Unit
- DNB NO : Norway’s DNB Bank to Buy Carnegie Holding for $1.1 Billion
- LLY US : Eli Lilly Treatment Granted Orphan Drug Status by FDA
- ELE SM : Masdar in Talks for Endesa’s Solar Assets Portfolio: Expansion
- ENI IM : Eni Plans to Sell Up to 49% of Biomethane Unit, Corriere Reports
- FRVIA FP : Forvia 3Q Sales Meets Estimates
- GALD SW : Galderma Phase 3 Relfydess Study Meets Endpoints
- HNR1 GY : E+S Rück expects further improvements in prices as well as terms and conditions in Germany after losses caused by severe weather events; Thorsten Steinmann to become CEO of E+S Ruck on Jan 1st
- 2HRA GY : H&R Block Motion to Disqualify Judge in FTC Case Denied
- HUM US : Cigna Is Said to Resume Merger Discussions with Humana
- IBE SM : Iberdrola bids for French renewables developer Neoen’s Vic assets
- ICAD FP : Icade 9M Revenue EU1.01B Vs. EU1.02B Y/y
- KVUE US : Activist Starboard Holds Kenvue Stake, Seeks Changes, WSJ Says
- LAZ US : Lazard hires UBS's Antignac to co-head debt advisory in Europe
- LSEG LN : LSEG Fires Staffer After Video Shows Him Following a Black Teen
- MET US : MetLife Is Said in Talks to Buy Tycoon Li’s PineBridge ex-China
- NB2 GY : Northern Data Examines Possible Divestment of Cryptomining Unit
- OKLO US : Altman-Backed Nuclear Stock Doubles in Value on AI Power Demand
- PLAN SW : Amex to Buy UBS’s 50% Interest in Swisscard, Becomes Sole Owner
- P911 GY :
- RECSI NO : Munich Re Cut to Hold at Jefferies, Further Upside Looks Limited
- SAN FP : Sanofi, CD&R in Talks to Transfer Controlling Stake in Opella(1)
- SAV US : Spirit Airlines debt refinancing deadline extended to December https://t.co/KtjmupxbSH https://t.co/CcNtOtKDzz
- SIE GY : Signs contract with Unibuss to optimize electric fleet with Depot360; No financial details disclosed
- SIRI US : Berkshire Hathaway Lifts Stake in Sirius XM After Malone Deal
- SIRI US : Berkshire Hathaway Lifts Stake in Sirius XM After Malone Deal
- LUV US : Southwest, Activist Elliott Said to Begin Settlement Discussions
- UBSG SW : Lazard hires UBS's Antignac to co-head debt advisory in Europe
- VK FP : Signing of a Memorandum of Understanding (MoU) with Advanced Supply Management Operations (ASMO), a joint venture between DHL and Aramco (through the Saudi Aramco Development Company). ASMO is the first-of-its-kind procurement and supply chain services hub in Saudi Arabia, serving the energy, chemical, and industrial sectors across the MENA region.