Good Morning Asia: Here's What You Need To Know To Start Your Trading Day

Good morning Asia! Here’s what you need to know to start your trading day.

U.S. markets fluctuated wildly during the day, but ended in positive territory,

  • Dow up 0.35%
  • S&P 500 up 0.18%
  • NASDAQ up 0.9%

Key U.S. News:

  • McDonald’s beat estimates, posting a 10% net income increase in Q3.
  • Amazon has come in with a lower than expected forecast for Q4 earnings. Operating expenses for the company increased by 40% in Q3.
  • American Express beat Q3 estimates for the company, at $0.90 EPS. Earnings pointed to an increase in consumer spending.

Key Europe News:

  • The UK is planning a £2.5 billion annual tax on the country’s banking sector. The tax targets banks with more than £20 billion on their balance sheets.
  • Airbus has denounced the war over public support for aircraft companies. The company suggests that industry members and trade organisations “accept reality.”

What to look for in Asia tomorrow:

  • Bank of China chairman Xiao Gang has called on China’s big financial institutions to look for business opportunities outside the country.
  • No major economic data from Asia tomorrow.

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