The record-breaking rally in global equities found new impetus on signs the US and China were closing in on a trade deal, triggering gains in copper and oil. Treasuries dropped across the curve and gold slid as demand for the traditional safe havens waned. MSCI’s index for global stocks climbed 0.2% to an all-time high, helped by records for Japan, South Korea and a gauge of Asian shares. Futures for the S&P 500 and the Nasdaq 100 advanced after both underlying indexes closed at a new peak last week. Copper — a bellwether for global growth — surged, as did oil, with the potential US-China deal bolstering the demand outlook. The Australian and New Zealand dollars, popular proxies for China exposure, strengthened. As risk appetite strengthened, the yield on the 10-year Treasury rose three basis points to 4.04%. Gold dropped 1% to $4,070 an ounce. Soybeans rallied on hopes for a revival in bilateral trade of the crop. The easing of trade tensions between the world’s two largest economies is giving investors renewed confidence to build on the equity rally from April lows, when markets slumped as President Donald Trump moved to rewrite global trade rules with new tariffs. That advance faces a key test this week, with the Federal Reserve poised to deliver its policy decision and earnings from US technology firms offering clues on the durability of profit growth. Top negotiators from the US and China came to terms on a range of contentious points, setting the table for Trump and Xi to finalize a deal and ease trade tensions that have rattled global markets. The Chinese Communist Party’s official mouthpiece called on the world’s biggest economies to “jointly safeguard hard-won achievements” from their latest trade talks, ahead of a high-stakes meeting between Trump and Xi Jinping. Trade negotiators from China and the US announced Sunday that they’d struck a slew of agreements on issues spanning tariffs, shipping fees, fentanyl and export controls over two days in Malaysia. That marked a significant cooling of tensions, after a fresh volley of tariff threats and tit-for-tat export controls threatened to derail the bilateral relationship. The encouraging signals from both sides of the negotiations were a marked contrast from recent weeks, when Beijing’s announcement of new export restrictions and Trump’s reciprocal threat of staggering new tariffs threatened to plunge the world’s two largest economies back into an all-out trade war. Elsewhere, Argentine assets are set to rally as President Javier Milei’s strong showing in legislative elections beat even the most bullish of forecasts, easing investor concern his economic overhaul of the crisis-prone nation would stall. Indonesia’s benchmark equity index dropped the most in more than five months as market participants reviewed MSCI’s proposals for free-float calculation methodology changes, which may reduce the index weight of some companies. Traders will be looking ahead to a busy week of central bank announcements that includes rate decisions from the Fed, the European Central Bank and the Bank of Japan. The Fed is forecast to cut rates by 25 basis points. On Friday, Wall Street saw a relief rally as cooler-than-estimated inflation data reinforced trader conviction on rate cuts. The slowest pace in three months for underlying inflation was welcomed by traders, who’ve been flying almost blind amid the dearth of data since the start of the government shutdown. The ECB and BOJ are expected to leave rates unchanged. Meanwhile, on Wednesday and Thursday, five firms that account for about a quarter of the S&P 500 Index — Microsoft Corp., Alphabet Inc., Meta Platforms Inc., Amazon.com Inc. and Apple Inc. — will report their earnings. Asia too entered its busiest week of the current earnings season. Of the more than 1,200 MSCI Asia Pacific Index constituents, roughly 500 firms are scheduled to report. Highlights include South Korea’s Samsung Electronics Co., Japan’s Hitachi Ltd. plus China’s megabanks, alcohol giant Kweichow Moutai Co. and automaker BYD Co. Catalysts such as the Fed meeting “will quickly shift the market’s focus back to the economic fundamentals, testing how much of this optimism can truly translate into sustained growth momentum,” said Hebe Chen, an analyst at Vantage Markets in Melbourne.
Nikkei +2.46% Hang Seng +0.99% CSI +1.12% Shanghai +1.10% Shenzen +1.18%
Eur$ 1.1622 CNH 7.1151 CNY 7.1133 JPY 153.23 GBP 1.3316 CHF 0.7967 RUB 79.75 TRY 42.0021 WTI$ 61.73 +0.39% Gold 4;089 -0.82% BTC 116,000 +2.36% ETH 4,233 +4.20%
S&P +0.86% Nasdaq +1.10% EuroStoxx +0.51% FTSE +0.18% Dax +0.45% SMI +0.17%
Macro :
- US Energy Secretary Issues Order Ensuring Grid Access in Winter
- Discretionary Investors Raised Stock Exposure This Week, DB Says
- Yale, Princeton Post 11% Returns as Schools Face New Tax
- Barclays’ Altmann Sees S&P 500 at ‘Moonshot’ 7,250 by Year-End
- Lithuanian Airports Closed on Balloons From Belarus
- China’s Industrial Profit Growth Picks Up to Near Two-Year High
- Argentines Cast Ballots in Make-or-Break Midterm for Milei
- The Dutch go to the polls again in a snap election caused by anti-immigration lawmaker Wilders
Keep an eye on :
Keep an eye on :
- RNA US : Novartis Agrees to Buy Avidity Biosciences for $72 Per Share
- BARC LN : Barclays Re-Enters Saudi Arabia 11 Years After Exiting Business
- BFIT NA : Basic-Fit Buys Clever Fit for €160M in Cash Plus €15M Earn-Out
- BAYN GY : Bayer Wins FDA Approval for Menopause Drug Treating Hot Flashes
- BA US : Boeing Defense Workers Reject Latest Offer, Extending Strike
- BP/ LN : BP Whiting Refinery Restores Power After Blip, Evacuations
- BP/ LN : BP Whiting Refinery Restores Power After Blip, Evacuations
- BN CN : Brookfield in Advanced Talks for Massive Nuclear Project in South Carolina -- WSJ
- BRBY LN :Bloomingdale’s Unveils ‘Happy Together’ Campaign Featuring Burberry Collaboration - WWD
- DIGI RO : Digi Hires Barclays, Santander to List Spanish Unit: Expansion
- ELES IM : Xenon Raises Eles Offer to €2.65/Shr, Tops Mare’s Latest Bid
- ERJ US : Embraer Warns of Delays and Cancellations of Orders on Tariffs
- NXT FP : Euronext sees itself as the spearhead of consolidation in Europe - Les Echos
- EVT GY : Evotec Gets $25M Payment From Bristol Myers Squibb
- FCX US : White House Grants Regulatory Exemption for US Copper Smelters
- GALP PL : Galp 3Q Adjusted Ebitda Beats Estimates
- 175 HK : Geely Targets to Sell 100,000 Cars a Year in UK, FT Reports
- GXI GY : Gerresheimer Says Its Own Probe Shows Probable Accounting Issues
- GOOGL US : Chinese Robotaxis Race Waymo to Take Driverless Cars Global
- GRND US : Grindr Confirms Received $18/Share Proposal From Large Holders
- HSBA LN : HSBC Takes $1.1 Billion Hit on Madoff Fraud Litigation
- JNJ US : J&J Says Nipocalimab Phase 2 Study Met Primary Endpoint
- LGEN LN : Legal & General Agrees UK Pensions Buyout Deal With Ford: FT
- MC FP : LVMH’s Art Foundation Brings Caillebotte Masterpieces to New York - WWD
- MKS LN : M&S ends IT service desk contract with Indian provider after cyber attack
- ML FP : Michelin Says €400M Share Buyback to Run Oct. 27-Dec. 19
- ML FP : Michelin Says €400M Share Buyback to Run Oct. 27-Dec. 19
- NWG LN : NatWest Raises Guidance, Hits 15-Year High: EMEA Financials Wrap
- NOVN SW : Novartis Agrees to Buy Avidity Biosciences for $72 Per Share
- NOVOB DC : Novo-Backed MapLight Raises $258.9 Million in US IPO, Placement
- PLTR US : Palantir to Sign Letter of Intent With Polish Defense Ministry
- PFC LN : Petrofac Lines Up Administrators With 2,000 Jobs at Risk: Sky
- P911 GY : Porsche 9M Operating Profit EU40M Vs. EU4.04B Y/y
- PRX NA : Accel partners with Prosus to co-invest in Indian science-led startups
- RIO LN : Rio Tinto Launches Corruption Inquiry at Oyu Tolgoi Copper Mine
- SAABB SS : Saab prepared to open production plant for Gripen jets in Ukraine
- TEL NO : Telenor’s Grameenphone Consolidated Adj Ebitda Drops in 3Q
- TSLA US : X’s advertising boss leaves in latest departure from Elon Musk’s businesses
- TTE FP : TotalEnergies ready to restart $20bn Mozambique LNG project - FT
- 7203 JP : Toyota Considers Importing US-Made Vehicles to Japan: Nikkei
- DG FP : Gatwick airport warns investment at risk if expected 300% tax rise imposed - FT