Market dynamics in the moment (futures):
📈 S&P 500: +0.14%
📉 Nasdaq: -0.20%
📈 Dow Jones +0.22%
🌕 Gold: -0.23% ($1749)
⚫️ Brent oil: +1.29% ($86.08)
🇺 US Treasuries 10 years: +1.77% (3.728%/year).
U.S. stock index futures are trading flat at the premarket. Today the U.S. stock exchanges will work on a shortened schedule. In this regard, the market is likely to observe reduced trading activity. European stock indices are trading multidirectional, Asian stock markets closed mostly in the green zone.
🟢 The People’s Bank of China will lower the reserve requirement rate for banks by 25 bps from December 5, which is expected to release liquidity totaling ¥500 billion ($70 billion). The measure aims to maintain sufficient liquidity in the system and support the real economy, the NBK said in a statement.
🔴 The number of new COVID-19 diseases in the PRC over the past Thursday continued to update historic highs to 31,987. In the nation’s capital, Beijing, 1,854 cases were reported. Many restaurants suspended food delivery and subway ridership dropped 64% YoY.
🟡 EU ambassadors have not agreed on a common position on the introduction of a price ceiling on Russian oil, negotiations will continue. This was confirmed by European Commissioner for Energy Kadri Simson.
🟡 Turkey’s central bank on Thursday cut its key rate by 150 bps to 9%. The Bank of Turkey’s monetary policy aims to maintain inflation at around 5%. However, the rate cut cycle comes against the backdrop of inflation at 85.5% y/y at the end of October.
🟡 Google (part of Alphabet #GOOG) is considering laying off 10,000 employees, or 6% of the staff, with the worst KPIs, The Information writes.
🔴 Naspers #NPN cut its stake in China’s Tencent #700 by selling its shares for about $2.8 billion. Naspers CEO previously said that the holding does not intend to sell Tencent shares because it “strongly believes” in the prospects of its value growth.
🔴 According to media reports, the U.S. Federal Trade Commission may file an antitrust lawsuit and try to prevent the purchase of Activision Blizzard #ATVI by Microsoft Corporation #MSFT – the deal is valued at $69 billion. At the premarket, ATVI shares are down about 3.5%
🟢 The U.S. is preparing to give Chevron #CVX a license to produce oil in Venezuela, which signals an easing of sanctions and could open up other companies to do business in the country, the WSJ writes.
🔴 Tesla #TSLA recalls 80,000 electric cars in China due to software and seatbelt problems.