October 6, 2022
United States:
US Index Futures Edge Lower After Jobless Claims: Markets Wrap
US equity-index futures edged lower as more Americans than expected filed for unemployment support. Markets remained in the grip of volatility as the OPEC+ alliance’s plan to cut oil supply stoked inflation fears.
Futures on the S&P 500 posted small losses, signaling a muted opening for New York markets. US crude futures held on to weekly gains of about 10% after the oil cartel said it would cut daily output by 2 million barrels. Treasuries swung between gains and losses. In New York premarket trade, Twitter Inc. lost more 2%, falling further below Elon Musk’s offer price.
Europe:
Some ECB Officials Initially Favored Half-Point September Hike
Some European Central Bank officials preferred lifting borrowing costs by 50 basis points in September, according to an account of their most-recent policy meeting in September.
The summary, released Thursday — three weeks before the ECB next sets interest rates — showed that decision makers ultimately joined a consensus on the three-quarter-point hike they announced amid “broad” agreement that rates were still accommodative.
Asia:
India, Indonesia Debt Outperforms China Despite Global Selloff
Indian and Indonesian bonds are offering shelter from extreme volatility in global markets.
The two countries’ sovereign debt only lost 0.4% and 1.5% respectively for dollar-based investors in the third quarter, less than other emerging markets in Asia including China, according to data compiled by Bloomberg. They knocked China off the top spot as the best performer in the region.
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