- Markets have settled into a holding pattern ahead of Friday's key US jobs data, with European stocks and US equity-index futures edging higher, Treasury yields flat, and a dollar index steady.
- Energy companies outperformed the STOXX Europe 600 index, with crude oil on track for its biggest weekly gain since April. The price of some industrial metals has risen as a result of China's latest stimulus measures.
- The S&P 500 and Nasdaq 100 futures rose about 0.3% and 0.2%, respectively.
- The payrolls report due out on Friday may provide additional evidence of a slight cooling in the still-tight US labour market. The question is whether this will be enough to halt the Fed's tightening cycle or even result in early rate cuts. Meanwhile, Morgan Stanley economists believe that a rapidly weakening economy will sway the ECB towards a pause this month, with no further hikes beyond the current rate of 3.75%.
- Mainland China's stocks were trading higher, and metals appeared poised to extend this week's gains. The market in Hong Kong was closed as the city braced for what could be the strongest storm in at least five years.
- In an effort to support the yuan, China's central bank reduced the foreign exchange reserve requirement ratio for financial institutions. Since then, the currency's gains have been reduced. According to a Caixin survey, sentiment was boosted further by an unexpected increase in manufacturing data, which advanced to 51 in August, the highest reading since February.
- Saudi crude oil exports plunge in August to 5.6 mln b/d - tracking data.
- China will take more action to revitalize property sector - according to sources.
