Trading Review: Ongoing Reports, Trends, Indices, Stocks, Bonds, Forex and Commodities and Analyst Recommendations
Trade in Asia is declining sharply. Nikkei is now down 2.2%, ASX 200 is down 1.8% and Cospi is down 1.6%. Wall Street futures signal declines of up to 0.6% at the opening of trading.
Trading on Asian stocks is declining this morning: Nikkei crashes 2.6%, ASX 200 falls 2.1% and Cospi loses 1.3%. The Shanghai Stock Exchange in China and the Hong Kong Stock Exchange in Hong Kong are closed today due to holidays. Wall Street futures signal a red opening.
US trading closed lower yesterday: the Dow Jones fell 1.6%, the S&P 500 lost 1.2% (ending its worst month since March 2020), and the Nasdaq fell 0.4%. European stock markets closed down 0.3% .0.7%.
Oil is trading this morning in slight declines of about 0.1%, and its price stands at about $ 75. Bitcoin is trading at a slight decrease of 0.3%. Its price is $ 43.6 thousand.
In the macro data segment, the Tankan index in the major industrial companies in Japan, which provides sentiment for the state of business in the country, stood at 18 points compared to expectations of 13. A result above zero in the index, which is based on a survey of 1,200 large manufacturers in Japan, signals an improvement in the business situation in the country. This is the fifth consecutive improvement in the index, which is published quarterly. However, the big manufacturers expect business damage in about three months due to problems in raw material supply chains and plant closures in Asia.
At 11:00 (Israel time), the EU Consumer Price Index is expected to be published in September. According to estimates, the index is expected to rise by 3.3% in the last 12 months.
At the last minute last night, the lower house of Congress approved a bill to keep government funding until early December, thus avoiding shutting down the government at midnight (Thursday). The vote was supported by 254 members of Congress, including several dozen Republicans and 175 against. Later in the evening, President Joe Biden signed the proposal, allowing the federal government to budget until December 3rd.
Democratic lawmakers later postponed President Biden’s $ 1.2 trillion vote in the Senate Infrastructure Bill. The vote was supposed to take place last night, but it was postponed so Democrats could overcome existing opposition in the party and gather supporters for key parts of the proposal.