10 minutes ago
European stock markets open higher
European stocks opened cautiously on Monday, seeking a fresh start after the weakest quarter of the year and two consecutive monthly falls.
the regional Stoxx 600 The index was up 0.3% at 8:10 a.m. London time, with the French index CAC 40 gaining 0.5%, Germany’s DAX 0.36% and the United Kingdom FTSE 100 up to 0.07%.
6 hours ago
Bank of Japan board discussed factors for abandoning ultra-loose policy, September meeting summary shows
Bank of Japan officials assessed a number of conditions that must be met before ending the central bank’s ultra-loose policy during their September meeting.
“Sustainable and stable achievement of the price stability target, accompanied by wage increases, is not yet in sight, and therefore the Bank needs to patiently continue monetary easing under yield curve control,” the BOJ said. summary of opinions fixed.
A board member highlighted how the second half of the fiscal year ending in March 2024 will mark an “important period” in determining whether the price stability goal will be achieved.
“Even if the Bank ended its negative interest rate policy, this can be considered a continuation of monetary easing if real interest rates remain negative. It is important that the Bank carefully reports on this,” said another member of the board of directors. .
In September, Japan’s central bank maintained its stance and left rates unchanged, due to “extremely high uncertainties” about domestic and global growth prospects.
—Lee Ying Shan
7 hours ago
China reports expansion of factory activity in September
China’s factory activity in September expanded for the first time in April, data shows National Statistics Office showed on Saturday.
China’s PMI rose to 50.2 in September from 49.7 in the previous month, beating Reuters expectations of 50.0.
A reading above the 50-point level marks an expansion, while a reading below the 50-point mark indicates a contraction. China’s non-manufacturing PMI also rose slowly to 51.7 from a previous reading of 51.
Similarly, a private sector survey reflected an expansion in China’s factory activity, albeit at a slower pace.
He Caixin/S&P Global Manufacturing PMI fell to 50.6 in September from 51.0, the poll showed on Sunday, missing forecasts of 51.2.
“Manufacturing conditions in China improved slightly for the second consecutive month in September,” the press release states.
“However, confidence about next year remained relatively weak, which in turn contributed to a drop in employment in Chinese manufacturing plants,” the report added.
—Lee Ying Shan
8 hours ago
Markets are coming off a difficult month and quarter
Monday begins a new month and business quarter.
September was the worst month of the year for S&P 500 and Nasdaq Composite. And for all three major indices, the quarterly declines marked a pullback after a strong first half of the year. Despite recent pullbacks, all three indices continue to rise year to date on the strength of the early 2023 rally.
Here’s how the three indices ended September and the third quarter:
He Dow:
- September: 3.5% drop
- Quarter: decrease of 2.6%
The S&P 500:
- September: 4.9% decrease
- Quarter: decrease of 3.7%
The Nasdaq Composite:
- September: 5.8% decrease
- Quarter: decrease of 4.1%
—Alex Harring
9 hours ago
Lawmakers avoiding shutdown should be good for markets, says financial group partner
The legislators could pass a continuing resolution and evade a government shutdown on Saturday. The bill keeps the government running for 45 more days, giving lawmakers more time to finalize funding proposals.
This development should be good news for the market and offer a boost after a difficult week, according to Jamie Cox, managing partner at Harris Financial.
“There will be a lot of reversals of sales from last week’s government shutdown, which will be good,” he said.
—Alex Harring
9 hours ago
Stock futures open higher
Stock futures rose on Sunday, a day after federal lawmakers reached a temporary deal that averted a government shutdown.
Futures linked to the Dow Jones rose about 155 points, or 0.5%, shortly after 6 p.m. ET. S&P 500 futures rose 0.6%, while Nasdaq 100 futures rose 0.8%.
—Alex Harring
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