Japan +2.98%. Japan data – October PPI +0.6% m/m (expected 0.6%).
China +2.55%.
Hong Kong +7.85%.
Australia +2.79%.
India +1.68%.
Overnight on Wall Street, major US indices had a huge day to the upside after weaker than expected CPI data led to the dollar tumbling, yields falling. That combination goosed the major indices higher. The Dow Jones Industrial Average rose 1201.43 points or 3.7% had 33715.36. The S&P 500 rose 207 22 points or 5.54% at 3956.38. The index closed above its 100 day moving average at 3901., and the Nasdaq Composite was the biggest gainer with a 760.98 point rise or 7.35% at 11114.16.
New Zealand data – Food Price Index October +0.8% m/m (prior +0.4%).
New Zealand data – BusinessNZ Manufacturing PMI for October slumps into contraction.
The consumer price index rose less than expected in October, an indication that while inflation is still a threat to the U.S. economy, pressures could be starting to cool.
Oil prices rose on Friday as fears of a U.S. recession eased but were on track for weekly declines of more than 4% after a jump in COVID-19 cases in top oil importer China raised the spectre of weaker fuel demand.
Brent crude futures were up 23 cents, or 0.3%, to $93.80 a barrel at 0101 GMT, extending a 1.1% rise in the previous session.
U.S. West Texas Intermediate (WTI) crude futures rose 28 cents, or 0.3%, to $86.75 a barrel, after climbing 0.8% in the previous session.
U.S. futures higher. Dow Jones +0.46%; S&P 500 +0.48%; Nasdaq +0.68%.
Image and article originally from seekingalpha.com. Read the original article here.