Entered a new wave of cases. Europes twin battles. E. U. Leaders make no progress. Chancellor merkel says finding compromise will be difficult as france and belgium are said to have urged e. U. Leaders to step up contingency plans for a nodeal brexit. Very good morning to you and happy friday. What a week it has been. Witharted the week off optimism and euphoria with markets on a high into vaccine news and we will be ending the week on a much more sobering tone. The news coming out in the United States, california imposing a new curfew, with pressure on officials. We wake up to a public clash between Steven Mnuchin and jay powell on unused lending funds and we saw that hit the futures market. S p 500 futures paring some of those losses. We have nasdaq futures relatively flat this morning. Treasury yields steady. In the pound, north of 132. We do have sources telling bloombergs that Emmanuel Macron is urging his e. U. Counterparts to start drawing up contingency plans for a nodeal brexi
Investors see less chance of new regulations, equity futures writing rising in tokyo and hong kong. In china tries to reassure the Business World that it is open to trade. Concern of the moran sealer approach. Shery breaking out of south korea. We are getting the currentaccount surplus in south korea for the month of september, widening to 10. 21 billion. We had seen a previous surplus at around 6. 5 billion. This has widened to over 10 billion. The goods surplus coming in at above 12 billion. We have seen continued surplus for the current account in south korea. Consecutivee a five months surplus, not to mention exports in october contracted a little, but in september they rose for the first time in seven months. South koreag pmi in so weoday twoyear high, are getting a widening of the surplus. Haidi pcb numbers crossing the bloomberg, betterthanexpected, eating the analyst estimates on the bloomberg, Third Quarter 1ome coming it at just billion, better expectations than 850 million.
The hearing was set before the bank agreed to pay 4 billion. The race for tiktoks assets aress the globe sees we told its been talking to geo platforms. We do have some breaking news crossing the bloomberg. Current account numbers coming through. We are getting the july current account surplus coming in at 7. 5 billion u. S. Dollars. The trade surplus sitting at 6. 9 7 billion in july and we are watching out for some other developments coming out south korea today. Highlevel officials of the Ruling Democratic Party and the government will be meeting to discuss a second cash handout and potentially a fourth extra budget according to local mode media reports and we are expecting perhaps an announcement when it comes to the social distancing measures as well as the coronavirus update to come. Lets take a look at the fed when it comes to the markets. It was a fallback overnight when it comes to u. S. Stocks and driven by a correction in the highflying tech sector. We saw u. S. Stocks falli
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Hong kong and tokyo reporting record tallies. And singapore heads to the polls for an election overshadowed by the pandemic. Voters will be asked to wear disposable gloves at the ballot box. How marketscheck of are trading. U. S. Futures plan at the moment, after a mixed finish in the new york session. The s p 500 and the dow fell. Viruse news of resurgence, not to mention to tensionsnot to mention escalating with china. Financial shares drag to the index. Dragged the index. The Energy Sector was down for a third consecutive session with the worst three days in about a month. Take a look at what oil is doing, because we are seeing it continue to dip slightly and below the 40 a barrel level. Key libyans that a oil field resumed production, threatening more barrels into the oversupplied market. Lets see how things are shaping up for the asian markets. Could beppetite fitting this friday with asian stocks mostly lower. This has we are seeing violence concerns virus concerns you raised in