China’s stimulus rally has already sent stocks up 25%. And there could be more to come
Mainland markets is closed for a week-long holiday commemorating the 75th anniversary of the People’s Republic of China. Trading is set to resume on Oct. 8.Â
Financial News
U.S. crude oil jumps as Biden comments on possible Israel retaliation against Iran
Supply disruption risks are increasing as fighting in the Middle East intensifies, according to analysts.
The East and Gulf coast ports strike could be a no-win situation for the Biden administration
President Biden is sticking to his position of not forcing striking port union workers back on the job, a political call that adds uncertainty to inflation.
Iran launches missile attack on Israel for killing of Hezbollah leader, general
Israel launched a ground incursion into Lebanon as part of an attack on Hezbollah, the militant group backed by Iran.
Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’
The central bank chief asserted that he will seek to balance fighting inflation with supporting the labor market.
Japan’s Nikkei falls over 3%, Australia scales fresh all-time high as investors await China data
China’s PMI data, as well as Japan retail sales numbers will be released today.
Netanyahu says killing of Hezbollah leader Hassan Nasrallah in Israeli airstrike ‘will not be enough’
Nasrallah has led the Lebanon-based group since 1992, taking the reins after Israel assassinated the group’s previous leader, Abbas al-Musawi.
Oil alliance OPEC+ zeroes in on group compliance after postponing output hike
The OPEC+ alliance is once more angling in on group compliance with oil output cuts, amid overproduction from heavyweight members Iraq and Kazakhstan.
Sam Altman tells OpenAI staff there’s no plan for him to receive ‘giant equity stake’ in company
At an all-hands meeting Thursday, OpenAI CEO Sam Altman denied reports that he received a “giant equity stake” in the company.
Chinese markets set to extend gains, other Asian markets poised for rebound
Mainland China’s CSI 300 has notched a five-day winning streak, hitting its highest levels in almost two months after Beijing rolled out a slate of economic stimulus measures on Tuesday.