Prices of oil and natural gas plunged today as Israel's targeted response against Iran had avoided key nuclear and oil facilities. Elsewhere, the JPY plunged due to Japan's election results, casting uncertainty about nation's economy.
In the United States, futures are currently pointing higher as investors continue to digest earnings releases. This week will be a busy week. Technology titans will be reporting their quarterly performance. In addition, monthly nonfarm payrolls and More importantly, we are seeing a bout of optimism as the Israeli attack on iran was "less devasting" than expected, avoiding oil and nuclear facilities. Nasdaq 100 surged by 0.45% , S&P 500 increased by 0.36%. Dow Jones unperformed but climbed by 0.25%.
In Asia, The Nikkei 225 outperformed all other markets after the LDP-led coalition loses majority in the lower house. Investors expect the politicla uncertainty to affect interest rate hikes, resulting in a "lower for longer" situation. USDJPY surged by close to 0.60% while the Nikkei surged more than 1.5%. Hong Kong and China finished in the positive territory with the Shanghai Composite surging by more than 0.5% while the Hang Seng remained relatively flat. Singapore underperformed and plunged close to 0.25%
In Europe, France's CAC outperformed all other european markets. The AEX (netherlands) was the worst performing declining by more than 0.5% while the DAX and FTSE100 fell around 0.25% .
Macroeconomics & International Relations
China's industrial profits in September dropped at its fastest pace since the pandemic. Industrial profits declined by 27.1% in September as compared to a year ago, marking the worst plunge since March 2020 when it fell by 34.9%
Israel conducted targeted strikes against Iran. However, investors cheered as the strikes against Iran had avoided key nuclear and oil facilities. The greenback rallied against all major currencies with the exception of the GBP while crude oil plunge as fears of a supply constraint in the oil market subsided.
Conflict in Gaza escalates as IDF raided a hospital, capturing more than 100 Hamas fighters.
Georgia's election results have sparked protests and tensions as a Russia-friendly party's victory raises concerns about election integrity.
Japan snap election results led to political upheaval and uncertainty, impacting the nation's economic prospects and stability
India and Spain launched a joint military aircraft enhancing defense production capabilities to expand military aircraft facilities.
NATO confirmed North Korean troops in Kursk to support Russia, escalating risks and tensions in the region.
Other Notable News
McDonald's faced an E. Coli outbreak, impacting its operations and reputation.
Volkswagen targets layoffs and 10% pay cut amid plans for plant closures in Germany.
Wise CEO fined 350k by UK regulators over failured to report tax issue
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