Latest updates:
– US indices rallied yesterday and finished trading significantly higher. S&P 500 added 1.71%, Dow Jones gained 1.56% and Nasdaq jumped 1.73%. Solid earnings from US banks supported upbeat moods
– Positive moods extended into the Asian session with Nikkei jumping 1.6%, S&P/ASX 200 adding 0.6% and Kospi moving 0.9% higher. Indices from China traded higher
– DAX futures point to a flat opening of today’s cash trading session in Europe
– US State Department is trying to convince OPEC+ to boost output and stabilize prices
– Fed’s Harker said he does not expect rate to be hiked until late-2022 or early-2023
– TSMC, world’s largest semiconductor manufacturer, will build a new facility in Japan. New factory will commence operations in 2024
– According to Nikkei report, Toyota will cut global production by 15% in November amid semiconductor shortage
– US SEC will reportedly not oppose launch of Bitcoin futures ETF. Cryptocurrencies jumped on the news with Bitcoin testing $60,000 mark for the first time since mid-April 2021
– Precious metals trade mixed – gold and platinum drop while silver and palladium gain
– Brent and WTI are trading almost 1% higher on the day. Industrial metals pull back
– AUD and NZD are the best performing major currencies while safe haven currencies – JPY and CHF – lag the most

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