FPG Overnight Headlines 27/10/2022

Overnight headlines

A 10 basis point decline brought the yield on the US 10-year note to 4.000%.

In the S&P 500 industry groupings on Wall Street, five of the 11 decreased, with communication services leading the way with a decrease of 4.8%. 2 percent was lost by the NYSE Fang + Index. To reach 27,31, the VIX fell more than 4%.

There were other issues as well besides technology. After reporting a larger-than-expected quarterly loss, Boeing saw an 8.8% decline.

UK Prime Minister Rishi Sunak, delayed the announcement of a keenly awaited plan for repairing the country’s public finances until November 17. The decision to delay the UK Treasury’s economic statement may save as much as £15 billion and spare the public services deep spending cuts, a prominent economist said.

Market movements

·       AUD increased by 1.6% to 64.94 US cents

·       Bitcoin increased by 3.1% to $US20,756

·       The Dow was unchanged on Wall Street, and-0.7%, S&P,-2% Nasdaq

·       Stoxx 50 +0.6% CAC +0.4% and FTSE +0.6% DAX +1.1%

·       Spot gold increased by 0.7% to US$1665.47/oz

·       Brent crude increased by 2.3% to US$95.68/barrel

·       Iron ore decreased by 1.9% to US$87.80/ton

·       The 10-year yield was US$4.00%. Germany 2.11% Australia 3.91%

Today’s agenda

Local: Trade figures during the third quarter

Overseas data: Chinese industrial profits in September; ECB policy decision; US durable goods orders in September; third-quarter GDP annualised; third-quarter October Core PCE and Kansas City Fed index

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