Palestinian Hamas declared war on Israel with surprise attack
Palestinian Islamist group Hamas has launched a devastating attack on Israel, killing dozens and capturing captives. Israeli Prime Minister Benjamin Netanyahu threatened retaliation, and Hamas declared war. Israeli troops fought militants in multiple towns and military posts near Gaza. Hamas held several Israeli hostages, including top officials, and claimed to have enough prisoners to release…
Investor prepare for jobless claim data which will affect The Fed decision
Wall Street stocks saw minimal change after a bond rout reprieve, with the focus now on Friday’s critical job market data. Dow Jones Industrial Average futures fell 0.2%, while S&P 500 and Nasdaq 100 futures remained unchanged. Bond rates’ surge slowed, easing stock market concerns. Investors prepare for Friday’s September payrolls report, which may deter…
Reduced oil demand causes oil prices to decrease
Oil prices fell on Thursday due to unclear demand and a bleaker macroeconomic forecast. Brent crude futures fell 65 cents to $85.16 a barrel, while West Texas Intermediate fell 75 cents to $83.47. The OPEC+ panel meeting, led by Russia, did not revise the group’s oil output policy, with Saudi Arabia continuing with a voluntary…
FTX filed for bankruptcy this November
London-based cryptocurrency trader Lee Rees lost $100,000, half his annual income, when FTX folded last year. He is one of nearly 1 million clients who may have lost money after the major crypto exchange, FTX, filed for bankruptcy in November. FTX founder and former CEO Sam Bankman-Fried is accused of embezzling $10 billion from unwary…
Consumer are cutting back on fuel consumption, oil demand became lowered
Oil prices rose 28% last quarter due to OPEC+ output cuts and supply constraints in Saudi Arabia and Russia. JPMorgan analysts predict a drop in oil demand this quarter as prices near $90 per barrel. Demand restraint from rising oil prices is visible in the US, Europe, and some EM countries. China and India drove…
The ADP National Employment Report a rising on added jobs
ADP reported a decrease in median year-over-year salary increases for job switchers to 9% in September, the smallest since June 2021. Workers saw average 16% year-over-year salary rises at their peak, more than double those who stayed. The disparity between pay growth from departing and staying is the narrowest since October 2020. The September ADP…
The Japan government bond auction sold lower than previous auction
Japanese 10-year government bond yields decreased after better-than-expected auction results for bonds of the same term. The Bank of Japan’s bond-buying operation supported the outcome, and the 10-year JGB yield dipped 1.5 bps to 0.755%. Government bond auctions received 3.93 times the amount offered, down from 4.02 times last month. Investors were wary of buying…
The Fed has warn another interest rate hike this year
The US Federal Reserve (Fed) has maintained that one more interest rate hike is planned this year, with rates not being lowered until afterward. The Fed’s hawkishness has kept futures markets pricing a 50-50 possibility of another quarter-point rate hike to 5.50-5.75% by year-end. The latest September business reports may have encouraged investors to continue…