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Macro Indicators News Stream

US Stocks Pare Losses
US stocks pared early losses to trade around the flatline on Monday, following a sharp rebound last week, as gains from energy companies offset concerns about the pace of economic recovery. The data showed China’s GDP growth slowed in Q3 and by more than expected and US industrial activity unexpectedly declined for the second month in September. On the earnings front, 41 of S&P 500 companies have so far reported Q3 results with 80% of them topping EPS expectations, while the total estimated Q3 profit growth for the entire S&P 500 is 30%. Major companies slated to report earnings this week include Netflix, Johnson & Johnson, Tesla, United Airlines, Procter & Gamble, Verizon, and IBM. Last week, the Dow gained 1.6%, the most since June, the S&P 500 rose 1.82%, the most since July, while the Nasdaq Composite saw its best week since the end of August, on stronger-than-expected start to earnings season and amid positive economic data including retail sales.
Oct 18, 2021 14:53 (GMT)
Baltic Exchange Dry Index Falls for 7th Day
The Baltic Exchange Dry Index extended losses for a seventh straight session, falling 2.5% to 4,732 on Monday, its lowest since September 27th, amid lower capesize rates. The capesize index, which tracks iron ore and coal cargos of 150,000-tonnes, slumped 5.3% to 7,358, its lowest since September 22; while the panamax index which tracks cargoes of about 60,000 to 70,000 tonnes of coal and grains, went up 0.6% to 4,091, its highest in over three months. Among smaller vessels, the supramax index added 19 points to a fresh record high of 3,595, according to Refinitiv going back until 2017.
Oct 18, 2021 14:20 (GMT)
Indian Rupee Remains at 6-Month High
The Indian rupee was around 75.3 against the USD in mid-October, not far from a 6-month low of 75.6 early in the month, amid a general dollar strength as investors remain concerned about the effects of a spike in energy costs on global inflation and growth. Early this month, the Reserve Bank of India left the key repo rate unchanged at a record low of 4% and reiterated the need to continue with the accommodative stance to continue to help the economic recovery.
Oct 18, 2021 14:11 (GMT)
US Homebuilder Sentiment Improves in October
The NAHB housing market index in the US rose four points from a month earlier to 80 in October 2021, the largest monthly increase since last November and easily beating market expectations of 76. The current single-family sub-index increased to 87 from 82 in the previous month, and the home sales over the next six months sub-index was up to 84 from 81. The gauge for prospective buyers advanced to 65 from 61.
Oct 18, 2021 14:06 (GMT)
Mexican Peso Holds Close to 3-Week High
The Mexican peso traded around 20.4 against the greenback in the second half of October, a level not seen since late September, as crude futures, a major Mexican export, rallied above levels not seen since 2014 at $83 a barrel. Meanwhile, minutes from the Bank of Mexico’s latest interest rate decision showed signs of concern from its monetary policy board members over the transitive nature of a stubbornly high inflation rate and the effectiveness of interest rates. Earlier, IMF analysts highlighted that Mexico’s public deficit will total 0.1% of 2021 GDP, before switching to a surplus in 2022 and 2023, which contrasts sharply with other emerging economies, forecasts to reach public deficits around 4.8% of GDP this year.
Oct 18, 2021 14:06 (GMT)
Canadian Shares Fall on Monday
The S&P/TSX composite opened lower on Monday to trade below the 20.9K level, easing from the record high hit in the previous session and in line with other global equities, as investors' sentiment is dented from slowing Chinese growth and lower than expected US industrial output. Industrials, utilities, and healthcare booked significant losses, while mining stocks fell due to lower bullion. At the same time, strong performance in the energy sector offset further losses.
Oct 18, 2021 13:58 (GMT)
BrazilIan Stocks Move Lower
Brazil's Ibovespa traded lower around the 113,000 level on Monday, tracking its global counterparts, with investors concerned about persistent inflation, as well as signs of a slowdown in the two world’s largest economies. Domestically, the focus is on solutions for the so-called Auxílio Brasil pandemic welfare program, which should replace the "Bolsa Família" in November. On the other hand, truck drivers are again threatening to paralyze the country. Meanwhile, Brazil’s central bank "Focus survey" revealed that analysts raised for the 28th consecutive week their 2021 inflation forecasts to 8.69% from 8.59% a week ago, while growth projections for the year were cut to 5.01% from 5.04% earlier. On the corporate front, Banco Inter, BTG Pactual and Eztec were among the worst performers; while shares in Brazilian retailers Lojas Americanas and Americanas jumped over 10%, after announcing they were considering a full merger and listing on Brazilian stock exchange B3's Novo Mercado.
Oct 18, 2021 13:51 (GMT)
US Stocks Start Week Lower
Three main US stock indexes fell on Monday, following a sharp rebound last week, as doubts emerged again about the pace of economic recovery and ahead of a busy earnings schedule. The data showed China’s GDP growth slowed in Q3 and by more than expected and US industrial activity unexpectedly declined for the second month in September. On the earnings front, 41 of S&P 500 companies have so far reported Q3 results with 80% of them topping EPS expectations, while the total estimated Q3 profit growth for the entire S&P 500 is 30%. Major companies slated to report earnings this week include Netflix, Johnson & Johnson, Tesla, United Airlines, Procter & Gamble, Verizon, and IBM. Last week, the Dow gained 1.6%, the most since June, the S&P 500 rose 1.82%, the most since July, while the Nasdaq Composite saw its best week since the end of August, on stronger-than-expected start to earnings season and amid positive economic data including retail sales.
Oct 18, 2021 13:38 (GMT)
Japan 10Y Bond Yield at Near 6-Month High
The yield on the benchmark Japan 10-year JGB breached 0.09% towards levels not seen since late April, amid a global rout in the bond market due to mounting concerns about supply disruptions and the timeline for the beginning of monetary policy tightening by major central banks. Meanwhile, Japanese households' inflation expectations for the year-ahead rose in the three months to September and the economic outlook also worsened, a Bank of Japan survey showed.
Oct 18, 2021 13:31 (GMT)
US Industrial Output Unexpectedly Falls for 2nd Month
Industrial production in the United States fell 1.3 percent in September 2021, following a revised 0.1 percent contraction in August and missing market expectations of 0.2 percent growth, with about 0.6 percentage point of the drop resulting from the impact of Hurricane Ida. Manufacturing output decreased 0.7 percent, as the production of motor vehicles and parts slumped 7.2 percent due to shortages of semiconductors and factory output elsewhere declined 0.3 percent. The output of utilities contracted 3.6 percent, as demand for cooling subsided after a warmer-than-usual August; while mining production was down 2.3 percent. Despite the decrease in September, total industrial production rose 4.3 percent at an annual rate for the third quarter as a whole, its fifth consecutive quarter with a gain of at least 4 percent.
Oct 18, 2021 13:25 (GMT)

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