- Asian stocks rallied, led by Hong Kong's Hang Seng (+2.7%), as traders assessed the sustainability of recent gains and awaited details of fiscal stimulus and holiday spending in China. Japanese and South Korean indices advanced, while Australian stocks dropped.
- U.S. dock workers and port operators reached a tentative deal to end a three-day strike that shut down shipping on the East Coast and Gulf Coast. The agreement includes a wage hike of around 62% over six years, raising average wages to about $63 an hour from $39 an hour.
- Oil prices are headed for their largest weekly rise in over a year, spurred by escalating Middle East tensions. Brent crude futures were set to gain around 8% for the week, while U.S. crude futures' 8.2% weekly rise would be the largest since March last year.
- The dollar hovered near a six-week high ahead of the U.S. payrolls report today at 13:30 BST. The dollar index is up nearly 1.5% for the week, its strongest such performance since April. The euro was steady at $1.1034.
- Economists expect 140,000 job additions in the U.S. September non-farm payrolls report, with unemployment anticipated to remain steady at 4.2%. The report could influence the Federal Reserve's interest rate decisions.
- Japanese Prime Minister Shigeru Ishiba instructed his cabinet to compile a fresh economic package to cushion the blow to households from rising living costs. A supplementary budget will be compiled after lower house elections on Oct. 27.
- European Union members face a pivotal vote on whether to impose tariffs of up to 45% on imports of Chinese-made electric vehicles. Germany will vote against the introduction of tariffs, while France, Greece, Italy, and Poland are expected to vote in favor.
- The yen strengthened after its biggest weekly decline since 2016, hit by uncertainty over Japan's monetary policy. Japan's new economy minister emphasized the importance of aligning monetary policy changes with the government's goal of exiting deflation.
- Cryptocurrency markets showed signs of recovery, with Bitcoin rising 0.56% to $61,052.92 and Ether up 1.18% to $2,372.71.
- Gold prices edged up 0.38% to $2,666.37 an ounce, while U.S. Treasury yields remained steady at 3.84% for the 10-year note.
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