Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated after the Nasdaq 100 rose 0.7% and the S&P 500 gained 0.4%. In the bond market, the 10-year US Treasury yield held steady at around 4.15%. Oil stabilized after two days of declines, and shares of several US retailers rose as a US Supreme Court appearance that appeared skeptical of broad tariffs raised hopes that tariffs could be lifted. The return of buyers came after a brief decline that fueled concerns about overvaluation. Private data...
The Nikkei 225 index closed up 1.34% to 50,883.68 on Thursday (November 6th), helped by solid US data: the ISM services index hit an eight-month high and the ADP added 42,000 jobs. Sentiment improved after valuation concerns eased, although the market now sees the chance of a Fed rate cut in December down to around 60% from 70% at the start of the week. Domestically, Japan's Services PMI remained in expansion at 53.1, while the composite PMI was at 51.5, and cash wages rose 1.9%, driven by a surge in bonuses. Corporate news: Nissan targets record profits from its headquarters sale-leaseback...
European stocks opened lower on Thursday, as investors reacted to another flurry of corporate earnings. The pan-European Stoxx 600 was 0.3% lower 20 minutes into the session, with most sectors and major bourses in negative territory. France's CAC 40 led losses among major regional indexes, with a decline of 0.7%. It's a busy day for earnings with third-quarter reports due from a slew of regional companies. AstraZeneca CEO: ‘We decided to be cautious' AstraZeneca held its guidance steady on Thursday morning, after reporting better-than-expected third-quarter revenues and profit. Total...