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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