News / Analysis
Finance Update – A Presidential RebateOctober 6, 2020
US markets closed up as the nation’s leader Donald J Trump returned to the White House yesterday – the Nasdaq leading at 2.32%.
The dollar index lost 40 cents after yesterday’s Composite PMI lost a An asset’s minimal unit of measurement and price change. and despite ISM’s report of a 1-point increase in its services PMI.
European markets shared in US optimism yesterday to the tune of a 1% rise +/- 0.1, with yesterday’s Sentix investor confidence index showing a better-than-expected decline to -8.3 in October.
The Euro added 60 pips towards the end of the London session after European service PMIs all exceeded expectations – breaking into expansionary territory in Germany before this morning’s factory orders reported a huge MoM surge to 4.5% for August.
Asian markets this morning mutedly continued the presidential wave, led by the Tadawul’s 0.98%, but sobered by the Shanghai Composite (-0.2%) and the Shenzhen closing flat.
Australia maintained its 0.25% The cost of accessing money not owned. rate decision overnight, following a 40% drop in its trade A trade balance that is positive as a result of income (exports on the national level) being greater... to $2.643 bn.
WTI crude rejoiced as the leader of the free world returned to business, jumping $2.60 before tapering out during the Asian session. Adding some tailwind, Reuters reports Caribbean oil fields being evacuated as the 25th named storm this year develops in the Mexican Gulf.
And topping it off, pay strike are expanding over Norwegian oil fields in the North Sea, pushing up the Brent-WTI The variance between the quoted buy and sell price of an asset. In forex it represents the moneychan... with the former rising $3 over the same period.
A US judge has instructed Cisco (+0.78%)to pay $1.9 bn damages to Centripetal Networks for patent infringements. Shares lost 0.2% after hours. And Exxon (+2.3%) announced yesterday it was cutting 1600 jobs dues to COVID-related losses.
Best Buy and Woolworths today pay dividends, and it’s ex-dividends date for Comcast – paying on October 28th.
|08:30 AM GMT||UK||Markit Construction PMI|
|12:30 PM GMT||US||The difference in value between a country’s imports and exports. If a country exports more than it.... Redbook at 12:55. Jolts Jobs at 14:00 and Powell speech at 14:40|
|12:30 PM GMT||Canada||Imports/Exports|
|08:30 PM GMT||OIL||API Crude oil Inventories|
|ND||NZ||Global Dairy Trade Price Index|
|09:30 PM GMT||Australia||Services Performance Index. Budget Release at an undisclosed time|
|11:50 PM GMT||Japan||Foreign Reserves. Leading index at 5 AM (+1)|
|06:00 AM Greenwich Mean Time (usually equals UTC – Universal Coordinated Time). GMT is a time zone, while U... (+1)||Germany||Industrial Production|