Morning wrap (30.09.2021)

9:05 am 30 September 2021

  • In spite of a recovery on the European markets, US indices finished yesterday's trading mixed. S&P 500 gained 0.16%, Dow Jones added 0.26%, Nasdaq dropped 0.24% and Russell 2000 moved 0.30% lower

  • Stocks in Asia performed better with S&P/ASX 200 gaining almost 2% and Kospi trading 0.4% higher. Nikkei dropped 0.1%

  • European stock futures signal a higher opening of the cash session today

  • US House and Senate will vote today on a stop-gap bill to avoid government shutdown. Today is the deadline to pass a new funding measure

  • The US House of Representatives passed a suspension of the debt ceiling until the end-2022. However, the bill is unlikely to make it through the Senate

  • Evergrande is said to have resumed construction of 20 projects

  • Japanese industrial production dropped 3.2% MoM in August (exp. -0.5% MoM)

  • Chinese official manufacturing PMI dropped from 50.1 to 49.6 in September (exp. 50.1). Markit PMI jumped from 49.2 to 50.0 (exp. 49.5)

  • According to data from Sociation of Motor Manufacturers and Traders, UK car production dropped 27% YoY in August with semiconductor shortages being main reason

  • Bitcoin recovered greatly overnight and trades above $43,000. Dogecoin jumped back above $0.20

  • Precious metals gain while oil makes a small pull back. Industrial metals and agricultural goods trade mixed

  • AUD and CAD are the best performing major currencies while USD and NZD lag the most

US100 failed to recover yesterday like indices from Europe did. However, index managed to halt declines near the 100-session moving average (red line) and is recovering today. Moreover, price managed to stay above lower limit of market geometry suggesting that uptrend is still in play. Source: xStation5

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