Good morning. Here’s what you need to know:
- Asian markets were mixed in overnight trading, with the Nikkei down 0.07%. European markets are slightly higher in early morning trading, and U.S. futures suggest a slightly higher open. Now get ahead with 10 Unusual Stocks Attracting Huge Interest In The Pre-Market Right Now >
- Jobless claims came in better than expected at 445,000. Expectations were for 450,000.
- Gold continued its climb overnight, rising to near $1360 an ounce, and looks set to rise to $1370. Here are 9 ways gold is a religion masquerading as an asset class >
- Chinese Premier Wen Jiabao has criticised Europe for joining the United States in its call for China to revalue the yuan. Wen has complained that the cost of revaluing the yuan would be factories closing in China and severe social unrest there. The currency war is one of our stories to watch, check out the other 9 here >
- The Australian dollar has rallied to parity with the U.S. dollar as its economy continues to boom. Employment figures show the country just added more jobs than at any time in the past 8 months.
- The Korean electronics company Samsung saw its stock slide today after profit projections for Q3 came in lower than expected. The stock fell 2.9% and brought the Korean index down with it.
- BP has agreed to develop an offshore gas field in Azerbaijan that would be one of the biggest natural gas fields in the world. The project is in deepwater and is a 50-50 split between BP and Socar, Azerbaijan’s state oil and gas company. Click here for the oil and gas pipelines changing the world >
- German industrial production numbers beat expectations, with month-over-month growth of 1.7% in August. The growth is in line with other manufacturing data from Germany, and suggests a steady recovery. Here’s why it’s time to be bullish on Europe >
- French President Nicolas Sarkozy attempted to force a takeover of Societe Generale by BNP Paribas after learning of the Jerome Kerviel scandal. Sarkozy was upset he wasn’t informed of the rogue trader’s actions prior to it becoming public knowledge.
- House prices in the UK fell 3.6% month-over-month for September, with an average loss of $9500 on each home. The country’s central bank has not moved interest rates or altered its quantitative easing program in a decision this morning.
- Bonus: Jessica Simpson fell ill while visiting troops on a Navy ship near Qatar. After drinking three Red Bulls and performing a song, the singer vomited due to her sickness.