Finance Update – Markets Green

Asia – Japan’s rising sun?

Asia is green across the board this morning, the Nikkei surging with a 2.05% gain while New Zealand’s DJ takes the rear with a 0.15% rise. On Thursday, the nation’s PMI dropped to 51.7 in October, better than the contractionary 46.6 expected.

Ahead of Friday’s PBoC interestThe cost of accessing money not owned. rate decision, the Yuan continues rising and is now at $0.15197. Chinese data continues to improve, industrial production up another 6.9% and fixed assetA stock, commodity, currency, index or any other entity one may trade or invest in. investments up 1.8% in October. Retail sales, on the other hand, increased by a per cent to 4.3%, missing the mark by just over 0.5%.

The Yen added 0.12% overnight, following a 5% increase QoQ in Q3 GDP – after last quarter’s 8.2% contraction – but a 3.9% increase in industrial production, which – though still a welcome report –missed the mark by a tickAn asset’s minimal unit of measurement and price change..

Europe – See Brexit for direction

European benchmarks were mixed yesterday, the FTSE losing 1 third per cent while the CAC added the same.

The pound over the weekend reversed its day-long rise after Thursday’s data showed a not-as-good-as-expected 0.5% increase MoM in industrial production and a 15.5% QoQ expansion in Q3 GDP – nearly a per cent off. September’s total trade surplusA trade balance that is positive as a result of income (exports on the national level) being greater... contracted by nearly 80% to £0.613 bn.

Meanwhile, throughout the Eurozone, September industrial production contracted by another half per cent, and Q3’s GDP 12.6% expansion missed the mark by 1 tenth. Q3 employment increased by 0.9%, and September’s trade surplus increased to €24 bn.

Americas – Lockdowns could hamper recovery

US indices continue to express optimism despite increasingly stringent anti-COVID measures, the Russel adding 2.1% yesterday and the NASDAQ 1.02%.

Thursday’s jobless claims numbers came in better than expected last week, the continuing figure down by a half million. Consumer inflationThe rise in prices for goods and services, resulting in the deterioration of a currency’s purchasi... dropped to 0 MoM in October, producer inflation added a tick to ½ a per cent YoY, and the monthly budget statement doubled the nation’s deficitA trade balance that is negative as a result of cost (imports, on the national level) being greater ... to $284 bn. Michigan’s preliminary consumer sentiment index, however, indicates a 4-point drop to 77 in November.

Commodities – Bitcoin cash forks

Ahead of tomorrow’s OPEC+ meeting, in which production cuts are expected to be extended, Oil continues in a narrow 70c range after the Baker Hughes company on Friday reported an additional 10 rigs online, the total now – 236. Some lift is being provided by improving conditions in China and Japan.

Bitcoin continues to surge above 16200 this morning after Bitcoin Cash’ latest hard fork – BCH ABC & BCHN, the former which has installed a tax to finance protocol development, according to CoinDesk.

Corporate – Walmart leaving Japan

J&J shares closed up a per cent Friday after the company launched 3rd stage tests for its anti-COVID vaccination. Walmart (+1.56%), ahead of its earnings report tomorrow, is reportedly exiting the Japanese supermarket chain – selling its majority stake in Seiyu. And PNC has announced it will buy the US operations of Spain’s BBVA (+17%) banking for $11.6 bn, creating the nation’s 5th largest retail banker.

Fitch last week downgraded Aramco (+0.3%) from stable to negative amidst reports that the company would issue about $2.5 bn in debt. And in Australia, coal minerA computer provider who hosts and administers a blockchain. With cryptocurrencies, the miner is rewa... Glencore (+3.02%) has announced it plans to lay off contractors, according to Reuters. Cisco (+7.06%) Thursday reported 76c earnings per share on $11.93 bn revenues – both well above expectations.

At $1.74, Merck (+1.54%) beat EPS expectations by 31c on $12.6 bn sales – 1% up YoY. And Disney (+2.1%) reported a loss of 20c per share – less than a third of the 70c loss expected – on revenues of $14.7 bn – a half-billion better than expected.

Today, expect earnings from Baidu, Vodafone and Telstra. Colgate-Palmolive, Procter & Gamble, Abbott Laboratories, Alliant Energy, Hasbro, Hormel Foods, Kinder Morgan, Nrg Energy and Abbvie will be paying dividends.

Events