Stocks and Crude have dipped on dire data, predominantly from Germany and China.
Futures tracking Wall Street's main indexes fell on Tuesday as optimism over potential rate cuts from the Federal Reserve next year waned, with investors on tenterhooks ahead of more commentary from central bank officials.
Oil prices hit fresh 2-1/2-month lows on Tuesday as mixed economic data from China offset the impact of Saudi Arabia and Russia extending output cuts.
Roundup of todays headlines:
- Fed's Kashkari: Have to let inflation and labor data guide us
- Big Tech to face tougher rules on targeted political ads in EU
- Dollar extends gains, euro hurt by German data
- Brazil central bank stresses long journey to return inflation to target
- The @Newsquawk US Market Open: Equities in red, DXY bid & Antipodeans sink post-RBA hike
- Futures dip as rate cut optimism wanes; more Fed speakers on tap
- OPEC+ has taken steps to achieve 'stable' crude market in 2023
- Europe PPI (YoY) (Sep) $EUR Actual: -12.4% Expected: -12.5% Previous: -11.5%
- Oil down more than 2% (at 2-1/2 month lows) on a wave of dismal data.
- Toyota extends output cut at Chinese JV to ease dealer pressure
- German companies prefer foreign investment to domestic - DIHK
- Eurozone Construction PMI Soften further
- UK grocery inflation in single digits for first time this year -Kantar
- Swiss forex reserves down in October
- Spanish Industrial Production (YoY) $EUR Actual: -1.4% Expected: -2.9% Previous: -3.3%
- IMF upgrades China's 2023, 2024 GDP growth forecasts
- German Industrial Production (MoM) (Sep) Actual: -1.4% Expected: -0.1% Previous: -0.2%
- United Kingdom Halifax House Price Index (YoY) (Oct) $GBP Actual: -3.2% Previous: -4.5%
- The @Newsquawk Europe Market Open: RBA hike 25bp. Israel is open to "short pauses" in Gaza
