<\/p>\n\n\n\n
Asian markets kicked off the month on a cautious note, with most indices lower as investors await key U.S. jobs data. Friday\u2019s nonfarm payroll report, the U.S. presidential election, and the upcoming Federal Reserve meeting next week are expected to heavily influence market sentiment.<\/p>\n\n\n\n
Despite a selloff overnight, Nasdaq futures rose 0.5%, bolstered by a post-market jump in Amazon (NASDAQ:AMZN) of 5.3%, adding $104 billion in market cap. Intel (NASDAQ:INTC) also surprised with upbeat revenue projections, lifting shares 7% after hours. This rally helped lift European futures slightly, with EUROSTOXX 50 and FTSE futures both inching up 0.1%.<\/p>\n\n\n\n
In Asia, Tokyo’s Nikkei dropped 2.6% as a stronger yen cast doubt on Japanese exporters\u2019 earnings outlook. The yen gained strength after less dovish comments from Bank of Japan Governor Kazuo Ueda, who hinted at a potential rate hike by year-end, reversing a nearly 1% loss in the yen overnight. The dollar was up 0.3% at 152.46 yen on Friday.<\/p>\n\n\n\n
Meanwhile, MSCI\u2019s Asia-Pacific index (excluding Japan) rose by 0.2% on gains in Chinese stocks, though still down 1.3% for the week. Chinese blue-chip stocks gained 0.5%, and Hong Kong\u2019s Hang Seng index rose 0.9%, supported by positive factory activity data in China.<\/p>\n\n\n\n
Brent crude prices rallied nearly 2% to $74.15 a barrel, marking a third consecutive day of gains. Reports suggested Iran was preparing a retaliatory strike on Israel, escalating geopolitical risks and sustaining the upward pressure on oil prices.<\/p>\n\n\n\n
Investors are cautiously watching Friday\u2019s U.S. payrolls data, with economists predicting an addition of 113,000 jobs in October. However, estimates vary widely\u2014Goldman Sachs expects a modest 95,000 increase, while TD Securities forecasts only 70,000 new jobs, reflecting potential distortions from recent hurricanes and labor strikes. A Fed rate cut of 25 basis points is seen as highly likely (94% priced in) after recent data pointed to solid U.S. consumption and waning inflation.<\/p>\n\n\n\n
The pound stayed near a 2.5-month low at $1.2891, with British bond yields spiking. Investors fear the UK\u2019s new budget could fuel inflation, causing the Bank of England to adopt a slower rate-cutting pace, adding further caution to the currency markets.<\/p>\n","protected":false},"excerpt":{"rendered":"
Asian markets kicked off the month on a cautious note, with most indices lower as investors await key U.S. jobs data. Friday\u2019s nonfarm payroll report, the U.S. presidential election, and the upcoming Federal Reserve meeting next week are expected to heavily influence market sentiment. Wall Street and Futures: Tech Stocks in the Spotlight Despite a …<\/p>\n","protected":false},"author":9,"featured_media":31994,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[6849,6851],"class_list":["post-107728","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-asia","tag-stocks"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107728","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=107728"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107728\/revisions"}],"predecessor-version":[{"id":107729,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/107728\/revisions\/107729"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31994"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=107728"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=107728"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=107728"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}