Gold rose to a record high and Treasuries held their gains as concerns over a US government shutdown clouded the release of data seen as crucial for determining the path of Federal Reserve interest-rate cuts. The precious metal climbed above $3,865 an ounce, lifting shares of Asian metals producers. Zijin Gold International Co., a unit of a Chinese miner, surged as much as 66% in its Hong Kong debut. Treasuries were little changed Tuesday after gaining across the curve in the prior session. A Bloomberg gauge of the dollar held its losses. Gold’s 46% surge this year — it’s set for the biggest annual gain since 1979 — reflects not just worries about a US government shutdown, but also global trade tensions, doubts about US exceptionalism and Fed rate cuts. Yet, stocks have also rallied from April lows to records as tariff concerns eased and optimism over artificial intelligence outweighed growth and inflation worries. Asian shares rose 0.3% and are poised for a sixth consecutive month of gains, the longest winning streak since 2018. Markets are also not rushing to retrench risk after various episodes of US shutdown threats previously, Vishnu Varathan, head of macro research for Asia ex-Japan at Mizuho Securities in Singapore, wrote in a note. Vice President JD Vance said he believes the US government is on track to shut down after President Donald Trump’s last-ditch meeting with top congressional leaders ahead of the Oct. 1 deadline ended without resolving Democrats’ demands. Investors remain concerned that a shutdown may hinder some crucial data releases that they require to discern how the US economy is doing. That includes Friday’s nonfarm payrolls report, which would offer details on how the labor market is holding up and help the Federal Reserve decide on the path for rate cuts. Meanwhile, China’s factory activity extended its decline into a sixth month, the longest slump since 2019, as the economy descended into a slowdown after a growth spurt to start the year. Chinese equities are set for their best run of monthly gains in seven years. In Japan, an auction of 2-year government bonds drew the weakest demand since 2009 amid speculation that the Bank of Japan will raise rates soon. The two-year yield, which is sensitive to monetary policy expectations, hit its highest level since 2008 last week. In geopolitical developments, Trump and Israeli Prime Minister Benjamin Netanyahu said they had agreed to a 20-point plan designed to end the war in Gaza, though the prospects for peace remained unclear without the direct involvement of Hamas. US After Hours SATS +13%, PRGS +4.2% nicely higher on earnings; MTN -2.6% and JEF -1.8% head lower on earnings
Nikkei +0.02% Hang Seng 0.14% CSI +0.42% Shanghai +0.47% Shenzen +0.42%
Eur$ 1.1730 CNH 7.1315 CNY 7.1248 JPY 148.41 GBP 1.3440 CHF 0.7970 RUB 82.9384 TRY 41.5826 WTI$ 63.06 -0.58% Gold 3,869,50 BTC 114,180 -0.12% ETH 4,192 -0.85%
S&P -0.02% Nasdaq -0.01% EuroStoxx -0.20% FTSE -0.12% Dax -0.14% SMI +0.02%
Macro :
- Trump Says Netanyahu Agreed to 20-Point Plan to End Gaza War
- EV Market Share to Exceed 10% in the US for First Time: Cantor
- EV Market Share to Exceed 10% in the US for First Time: Cantor
- US Sues Kahn on Hedge Fund Collapse, Indicts Other Executive
- Switzerland agrees with US not to manipulate its currency - FT
- Eisler to Shut Hedge Fund Amid Talent War and Poor Returns
- Saudi Plans for Video-Game Hub Grow With $55 Billion EA Deal
- Josh Pack, Co-CEO of Fortress Investment Group, Dies at 51
- Trump Sets 10% Tariff On Softwood Timber, Lumber Imports
- M&A deals top $1tn in third quarter - FT
- German Firms Expand Investment Pledge Initiative
Keep an eye on :
Keep an eye on :
- ABVX FP : Abivax SA Will Present Second Late-breaking Abstract On Its Lead Drug Candidate Obefazimod For Treating Moderately To Severely
- AIR FP : Airbus Titanium Outlook Negative for ATI, Howmet: Deutsche Bank
- AIR FP : Swedish Airline Braathens Seeks Bankruptcy for Airbus Operations
- AKER NO : Aker Decides to Buyback Up to 429,067 Own Shares
- BABA US : Ant Debuts 1-Trillion Parameter Open-Source AI Thinking Model
- BABA US : Alibaba in Talks to Buy HK Office for $900 Million, HKET Reports
- ANTO LN : REN’s Transemel Buys Chilean Assets From Antofagasta’s MLP
- AUPH US : Aurinia Sinks After FDA Official Questions Its Drug in Post
- BPI PL : Banco BPI Says It Has Reduced Its Stake in BFA to 33% After IPO
- BAYN GY : Bayer Selects Interpublic to Work With Consumer Health Division
- BTBT US : Bit Digital Said to Offer Up to 4.5% Coupon on Convertible Bond
- BA US : Boeing Plans New Airplane to Succeed 737 Max, WSJ Reports & WSJ full article
- CNP US : CenterPoint Expands Capital Investment Plan to $65b Over 10 Yrs
- COTY US : Coty Considers Sale or Spinoff of CoverGirl -- WSJ
- CRDO US : Credo Technology to Buy Hyperlume
- CSX US : CSX CEO Welcomed By Markets, Doesn’t Guarantee M&A: Street Wrap
- SATS US : *ECHOSTAR SHARES JUMP 13% ON REPORT OF VERIZON SPECTRUM TALKS
- FGR FP : Eiffage Wins French Offshore Wind Contract Worth Over €1.5B
- ENTA US : Enanta Surges as Mixed RSV Data Still Offers Hope: Street Wrap
- EFR CN : Energy Fuels Announces Proposed $550 Million Offering of Convertible Senior Notes Due 2031
- EMEIS FP : Emeis 1H Net Loss EU137M
- EQNR NO : Norway Police Probing Possible Drone Sighting Near Gas Field: VG
- EXO N : New Agnelli Will Surfaces in Billionaire Family’s Dynastic Feud
- SIGHT FP : GenSight Biologics Reports Interim Financial Results for the First Half of 2025
- 219A JP : Heartseed Shares Set to Fall After Ending Novo Nordisk Pact
- HOME SM : Neinor Bid for Aedas Homes Gets Competition Regulator Approval
- HBH GY : Hornbach Holding 2Q Sales Miss Estimates
- IPG US : Bayer Selects Interpublic to Work With Consumer Health Division
- JEF US : Jefferies 3Q Net Revenue Beats Estimates
- K US : Kellanova Shares Jump on Speculation Mars Deal Will Get EC Okay
- 285A JP : Japan’s Kioxia Sees AI Driving Strong Memory Growth for Years
- MSTR US : Metsera Reports Positive Phase 2b Results for First- and Best-in-Class Ultra-long Acting GLP-1 RA Candidate MET-097i, Enabling
- NYR BB : Nyrstar Fined €80,000 for Misleading Market Before Restructuring
- 9984 JP : Rebellion : AI Chip Startup Rebellions Gets Funds at $1.4 Billion Valuation
- RENE PL : REN’s Transemel Buys Chilean Assets From Antofagasta’s MLP
- SAN SM : Sabadell Speeds Up Sales of Soured Loans Worth €435 Million
- MSTR US : Saylor Is Unbothered by Strategy’s Narrowing Share Premium - FT article
- NOVOB DC : Heartseed Shares Set to Fall After Ending Novo Nordisk Pact
- TSLA US : Elon Musk hit by exodus of senior staff over burnout and politics - FT
- TINC BB : TINC Raises €120M Senior Financing Package for Datacenter United
- TTE FP : TotalEnergies Plans $7.5 Billion Cuts on Weak Energy Prices
- 8TRA GY : Arno Antlitz Named to Traton Supervisory Board
- 8TRA GY : Arno Antlitz Named to Traton Supervisory Board
- THS US : TreeHouse Shares Climb on Octus Report of Possible $3B PE Bid
- UBSG SW : Switzerland and UBS Could Compromise on Capital Rules: Reuters
- MTN US : Vail Resorts Falls After 2026 Profit Forecast Lags Estimate
- VLA FP : Valneva: 95% Seroresponse 4 Years After Single Chikungunya Shot
- VZ US : Verizon Is in Talks to Purchase EchoStar Wireless Spectrum
- VOS GY : French Antitrust Allows Vossloh Buy of Sateba With Condition
- 2899 HK : ZijiinGold : Zijin Gold Soars in Hong Kong Debut, Hits Nearly $40 Billion Valuation,Shares jumped 65% early Tuesday to 118.00 Hong Kong dollars - WSJ