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US indices finished yesterday’s trading mostly lower. S&P 500 dropped 0.16%, Dow Jones moved 0.48% lower and Nasdaq gained 0.11%. Small-cap Russell 2000 finished almost 0.4% lower

Friday News
  • US indices finished yesterday’s trading mostly lower. S&P 500 dropped 0.16%, Dow Jones moved 0.48% lower and Nasdaq gained 0.11%. Small-cap Russell 2000 finished almost 0.4% lower
  • Indices from Asia-Pacific traded mostly higher today. Nikkei gained 0.5%, Kospi moved 0.4% higher, Nifty 50 gained almost 0.50% while S&P/ASX 200 traded 0.3% lower. Indices from China gained 0.2-0.7%
  • Trading session in Hong Kong was canceled amid approaching supertyphoon. As a results trading on CHNComp, HKcomp, and was suspended
  • European index futures point to a more or less flat opening for blue chips indices from the Old Continent
  • The People’s Bank of China cut the FX reserve requirement ratio for banks to 4% from 6%. Cut will become effective on September 15, 2023
  • RRR cut will free up some of the FX reserves held by banks, which can be later used to support yuan
  • It is rumored that Saudi Arabia and Russia may announce extension to their supply and exports cuts through October as soon as next week
  • Chinese manufacturing PMI (Caixin/S&P Global) unexpectedly returned to expansion territory in August, jumping from 49.2 to 51.0 (exp. 49.3)
  • Indian manufacturing PMI index moved from 57.7 to 58.6 in August (exp. 57.6)
  • JP Morgan revised its US GDP forecast higher and now expects annualized Q3 GDP growth to reach 3.5%, up from previous forecast of 2.5%
  • Goldman Sachs estimates risk of US recession over the next 12 months at 20%
  • Major cryptocurrencies are trading little changed – Bitcoin and Ripple trade flat while Ethereum gains 0.1%
  • Energy commodities are trading mixed – oil gains 0.2% while US natural gas prices drop 0.2%
  • Precious metals trade mixed – gold trades flat, silver gains 0.4%, platinum drops 0.1% and palladium declines 0.3%
  • EUR and CAD are the best performing major currencies while AUD and NZD lag the most

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