Currencies
Jefferies strategists led by Sean Darby said: There is a very decent relationship between changes in the trade-weighted dollar and S&P 500 earnings.
Oil
A warning against dip wagers, Russia could cut oil output, a fight for survival for Truss, Musk s deposition and a wave of dep View in browser Good morning. A warning against dip wagers, Russia could cut oil output, a fight for survival for Truss, Musk s deposition and a wave of departures at Credit Suisse. The quota cut agreement is material and sends a clear signal that Saudi Arabia and the group together are willing to stabilize and support oil markets. The cut of 2 million barrels per day is not quite as steep as it seems because OPEC+ countries were already pumping somewhat less than their quotas.
This wasn t a shock to match the invasion of Ukraine earlier this year, but the steady downtrend in oil prices since midsummer appears to have been interrupted. Speaking after the OPEC+ announcement, Russian Deputy Prime Minister Alexander Novak reiterated that his country won t sell oil to any countries that adopt such a cap. The EU pact includes support for the price cap on oil sales to third countries.
That conflict, which initially caught Israel by surprise, led to the Arab oil embargo and was a critical shock in the inflationary cycle that would vitiate the decade. Politically and economically, the likely upward pressure on gasoline prices in the US could scramble expectations. Brent Crude is now above its 50-day moving average, and threatening to cross its 200-day moving average, a widely followed measure of the long-term trend.
This wasn t a shock to match the invasion of Ukraine earlier this year, but the steady downtrend in oil prices since midsummer appears to have been interrupted. Speaking after the OPEC+ announcement, Russian Deputy Prime Minister Alexander Novak reiterated that his country won t sell oil to any countries that adopt such a cap. The EU pact includes support for the price cap on oil sales to third countries.
That conflict, which initially caught Israel by surprise, led to the Arab oil embargo and was a critical shock in the inflationary cycle that would vitiate the decade. Politically and economically, the likely upward pressure on gasoline prices in the US could scramble expectations. Brent Crude is now above its 50-day moving average, and threatening to cross its 200-day moving average, a widely followed measure of the long-term trend.
United States
The US, Japan and South Korea has said Pyongyang may be ready to conduct its first nuclear test in five years. He adds: The next Fed meeting is not until November 2nd, so markets can focus on earnings rather than monetary policy. Fed speakers Charles Evans, Lisa Cook and Loretta Mester participate in separate events. This is despite the polite request from the US for them not to do so.
Europe
Natalia Drozdiak What s Happening Joint Funds | The EU will explore ways to raise funding as a bloc to accelerate plans to cut off Russian gas. The ECB publishes an account of its September policy meeting. Germany, Spain ratchet up pressure on Macron.
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