- Futures on US indices are rising
- The end of the war in Gaza Strait
- UoM data in trader's focus
- Futures on US indices are rising
- The end of the war in Gaza Strait
- UoM data in trader's focus
- U.S. index futures are rebounding today after a seller-dominated session yesterday. That said, both the S&P 500 and the Nasdaq 100 managed to claw back a good portion of their losses into yesterday’s close. PepsiCo and United Airlines rose between 3% and 4% after releasing third-quarter results.
- In focus today are University of Michigan readings on consumer sentiment and inflation expectations (16:00), along with remarks from Fed officials (Goolsbee, Musalem).
- Asian stocks benchmark slumped 0.8%, after technology shares pulled down stock indices in Japan and China. Chinese semiconductor producer SMIC fell 7% on news that brokerages had reduced the stock's margin financing ratio to zero, citing high valuations. A barometer of Chinese tech equities from Hong Kong is poised for its worst week since early August
- Energy commodities such as crude oil and natural gas are posting very slight declines. In metals, gold is little changed, while silver is rebounding by another 1.4%.
- China yesterday decided to impose export restrictions on products that contain even trace amounts of Chinese materials or metals, including rare earths. As a result, reselling a product that incorporates a Chinese component will require obtaining a special license from Beijing.
- Donald Trump said it may be that Americans “simply have to stop importing the huge volume of goods from China.” He also indicated the U.S. has prepared a proposal under which Chinese aircraft flying to the U.S. would be barred from overflying Russia. Moreover, the U.S. yesterday opened an investigation into Chinese router and Wi-Fi manufacturer TP-Link, citing national security concerns.
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