Market Overview

Global Markets Take A Breather After Consecutive Days Of Gains

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Global Markets Take A Breather After Consecutive Days Of Gains

Major markets across the globe closed lower or are trading in red, as traders book profits after consecutive days of the market rally. The Dow futures are trading lower by 0.73%, and the S&P 500 futures are down by 0.64% on the last check Thursday. 

WTI crude futures are up 0.46% to $41.64 on hopes of OPEC+ cut, and gold futures have gained 0.28% to $1.866.90. The 10-Year Treasury yields are down by 5 basis points to 0.939%, its highest since March.

Asia: Japan's Nikkei 225 closed higher by 0.68%, rising for the eighth consecutive session. The PPI for October was in-line with consensus, falling 2.1% year-over-year and 0.2% month-over-month. The foreign investments in Japanese stocks skyrocketed to ¥485.5 billion.

China's Shanghai Composite benchmark fell by a marginal 0.11% on Thursday. Hong Kong's Hang Seng index echoed China and closed 0.19% lower.

Australia's S&P/ASX 200 retreated from its five-day gains, dropping 0.49% on Thursday. Data from the Melbourne Institute shows that consumers expect inflation to uptick from 3.4% earlier to 3.5%.

South Korea's Kospi fell 0.41% on Thursday after eight consecutive days of gains. The nation's Export Price Index fell by 6.4% YoY, and the Import Prices dropped 11.6% YoY.

India's Nifty 50 benchmark is trading lower by 0.47% on Thursday. Investors will be watching Industrial Production and CPI data scheduled to release on Thursday.

Europe: Euro Stoxx 50 has lost 0.44% in Thursday's early trade, after gaining for three days. E.U. has a busy economic calendar with Industrial Production, European Central Bank's (ECB) Economic Bulletin, and ECB members' speeches.

London's FTSE 100 index is down by 0.75% on the last check after the nation's Q3 GDP fell 9.6% YoY and grew 15.5% QoQ, missing the consensus on both counts. September's manufacturing output rose by 0.2% MoM but fell 7.9% YoY. The trade balance deficit widened slightly to £9.35 billion. 

Germany's DAX is lower by 0.72% at press time after the Consumer Price Index for October grew 0.1% MoM but fell 0.2% YoY, in line with the consensus on both counts. 

France's CAC 40 index is trading down by 0.76%, after three consecutive days of gains. Spain's IBEX 35 benchmark is down by 0.64% on the last check.

Forex Trading: U.S. Dollar Index futures are down by 0.04% to 92.983. The dollar has weakened by 0.10% against the Euro to $1.1789, gained 0.20% against the Sterling Pound to $1.3195, and lost 0.06% to the Japenese Yen at ¥105.36.

For news coverage in Italian or Spanish, check out Benzinga Italia and Benzinga España.

 

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