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Good morning. Here’s what you need to know:
- Asian markets surged higher overnight with the Nikkei a notable exception, down 0.27%. European indices are all higher in early morning trading and U.S. futures suggest a positive open. See 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
- Existing home sales data is released at 10 AM ET. Sales are expected to come in at an annualized 4.3 million for the month of September. Follow up to the minute coverage of the release at Money Game >
- The result of the weekend’s G20 meeting is a promise from countries not to competitively devalue their currencies. No agreement was made on trade imbalances. Here’s what emerging economies are doing to combat America’s hot money >
- Gold surged over 1% overnight as the value of the dollar has declined sharply. Click here for a guide to valuing gold >
- The Japanese yen increased to a 15-year high against the dollar as markets begin to price in quantitative easing 2. Major Japanese electronics company Toshiba is preparing for the yen to hit ¥70 to the dollar. Click here for a guide on the Japan/US parallels and why quantitative easing 2 won’t work alone >
- Singapore’s stock exchange company, SGX, has tabled an $8.3 billion bid for Australia’s ASX stock exchange. The deal would see the two groups combine to rival Hong Kong’s exchange, but also maintain their local brands and presence.
- South Korea is on the brink of selling its stake in Woori Finance Holdings for about $6.02 billion. The firm received government assistance in the wake of the Asian Financial Crisis of 1998-1999.
- India is seeking an $11 billion arms deal with the U.S. government to re-arm its air force. The potential deal comes on the heals of the U.S. sale to Saudi Arabia worth $60 billion. Here are the strategic threats the U.S. is really worried about >
- Strikes are costing the French economy as much as $560 million each day, according to Finance Minister Christine Lagarde. The retirement reform plan was approved by the country’s senate last week and will likely be law by the end of this week. Check out these stunning videos of French protests >
- The demand for rare earth metals has seen the share prices of several small firms that don’t actually have mines yet skyrocket. The market cap of 6 of those firms is $7 billion, while the value of all rare earths traded annually is $2 billion. Here’s how one rare earths company spiked 1200% this year >
- Bonus: Katy Perry married British comedian Russel Brand this weekend in a traditional Indian ceremony in Rajasthan, India.