🌅 Morning Wrap — 5 November 2024 🌅
📉 U.S. Markets Recap
The U.S. indices wrapped up yesterday on a slightly lower note: the S&P 500 and Nasdaq 100 both slid around 0.4%, as election jitters weigh on the markets. With only 24 hours to go, Donald Trump’s lead has increased again to 55% vs. 44% on Kalshi’s prediction market.
💵 Currencies
The dollar is trading steadily today. Eurodollar sits at 1.087, while USDJPY edges up by 0.15%. U.S. 10-year bond yields remain around 2.9%.
📈 Asia-Pacific Markets
Asian markets showed a positive mood overnight:
Japan’s Nikkei surged nearly 1.4%.
Hong Kong’s Hang Seng Index is up almost 1.5%.
China indices (HK.cash & CHN.cash) are gaining over 2% as investors welcome better services data from China 🇨🇳.
🇨🇳 China Data
China’s Caixin Services PMI came in at 52 (forecast was 50.5), while Hong Kong’s S&P PMI hit 52.5 (vs 50 in September), both exceeding market expectations 📊.
🇦🇺 Australia & Singapore Updates
Australia: The RBA held rates at 4.35%, as expected.
Singapore: October retail sales rose 2% (1.8% expected), with m/m growth of 0.4%.
🇪🇺 Europe
European futures indicate modest gains of 0.2%-0.3% following Asia’s success. Swiss unemployment held steady at 2.6% for October.
📊 Company News
Hugo Boss: Q3 results edged out expectations, with a 1% increase in currency-adjusted group sales. EBIT at €95 million, just ahead of forecasts.
Axios: U.S. and Saudi Arabia discuss a regional security pact, though it won’t extend to Israel.
WSJ: New export restrictions impact chipmakers like Applied Materials, forcing them to disengage from Chinese suppliers.
🌾 Commodities & Crypto
Agricultural markets remain calm, while oil is slightly down after recent gains spurred by Middle East tensions. Meanwhile, bitcoin is hovering near $69,000, up over 1% today 📈💰.
🌅 Morning Wrap — 5 November 2024 🌅 was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story.