1 year ago
207
An employee works on the assembly line of LED lighting products in China.
Vcg | Visual China Group | Getty Images
Asia-Pacific markets are set for a lower start to the week as investors look ahead to key economic data from China and Japan this week.
Most notably, China will release its third-quarter gross domestic product numbers on Wednesday. Economists polled by Reuters expect a 4.4% year-on-year expansion, down from 6.3% in the previous quarter.
Japan's September inflation data is expected on Friday, which will come ahead of the country's central bank's monetary policy meeting on Oct. 30 and 31.
South Korea's central bank will also announce its rate decision on Thursday. The Bank of Korea has held rates steady for five meetings in a row at 3.5% since February.
In Australia, the S&P/ASX 200 started the week down 0.17%.
Japan's Nikkei 225 is also set to fall, with the futures contract in Chicago at 32,040 and its counterpart in Osaka at 31,880 against the index's last close of 32,315.99.
Futures for Hong Kong's Hang Seng index stood at 17,751, pointing to a weaker open compared with the HSI's close of 17,813.45.
On Friday in the U.S., all three major indexes ended the day mixed, pressured by a spike in oil prices and rising inflation expectations, as Wall Street wrapped up a volatile week.
The S&P 500 declined by 0.50%, while the tech-heavy Nasdaq Composite lost 1.23% The Dow Jones Industrial Average was the outlier, rising by 0.12%
— CNBC's Pia Singh and Lisa Kailai Han contributed to this report.
Fri, Oct 13 20234:32 PM EDT
Gold logs best day of the year on Friday; Crude oil best day since April
December gold futures contracts closed 3.11% higher Friday, turning in the strongest one-day advance since Dec. 2022, and rising above their 50- and 200-day moving averages for the first since Sept. 20. Gold's weekly 5.22% gain was the most since mid-March, and left the precious metal 6.31% higher on the year.
The VanEck Gold Miners ETF jumped 4.36% Friday, while the VanEck Junior Gold Miners ETF climbed 5.12%.
In energy markets, West Texas Intermediate and Brent crude oil both turned in their best days since April 3, with November WTI futures surging 5.77% to $87.69 a barrel and December Brent climbing 5.69% to $90.89/bbl. The national average for a gallon of gasoline dropped to $3.628, down 12 cents from a week ago and 22 cents from a month ago, the American Automobile Association said.
Among soft commodities, orange juice closed at a record, with November futures rising 0.17% to $3.859 per pound, posting a sixth straight week of gains. Orange juice is higher by 90.25% in 2023.
— Scott Schnipper, Gina Francolla
Fri, Oct 13 202310:10 AM EDT
Consumer sentiment slips, inflation outlook spikes, survey shows
Consumer sentiment slumped in October while inflation expectations spiked, according to the University of Michigan's closely watched survey.
The survey posted a headline reading of 63, down from 68.1 in September and below the Dow Jones estimate for 67.4, a preliminary reading released Friday showed. The current conditions index also moved down, to 66.7 from 71.4.
On inflation, the one-year outlook jumped to 3.8%, up from 3.2% and the highest reading since May. On a five-year basis, the outlook moved up to 3% from 2.8%.
—Jeff Cox
Fri, Oct 13 20234:04 PM EDT
Stocks end Friday mostly lower
Fri, Oct 13 20233:39 PM EDT
Regional banks are in focus in the week ahead
Regional banks will be in focus in the week ahead as traders head into the thick of third-quarter earnings season.
"I want really some indication as to whether the regional banking crisis of last March has really ended," Komal Sri-Kumar, president at Sri-Kumar Global Strategies. "I don't think so."
CNBC Pro subscribers can read the full story here.
— Sarah Min
English (US)