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November 9th - Trump: I am pleased to announce that the great attorney John Coale has been nominated as the U.S. Special Envoy to Belarus. He has successfully facilitated the release of 100 hostages and is working to secure the release of another 50. I would like to express my sincere gratitude in advance to the esteemed President Lukashenko of Belarus for considering the release of these additional hostages.U.S. Treasury Secretary Bessant: Substantial progress is being made on the inflation issue, and prices are expected to fall in the coming months.On November 9th, local time, Ukrainian President Volodymyr Zelensky signed a new sanctions decision, imposing sanctions on several Russian government officials and institutions. Ukraine called on the international community to increase pressure on Russia and sanction all individuals and organizations that fund war and spread disinformation. Ukraine stated that this round of sanctions includes "Russian government members involved in the plunder of occupied Ukrainian territories" and personnel from Russian military intelligence. Ukraine also plans to take further measures against publishing institutions within Russia engaged in war propaganda and defense of aggression. According to Ukrainian sources, the sanctions list includes individuals such as Russian Presidential Special Representative Kirill Dmitriev.Iraqs State Oil Marketing Organization (SOMO) announced that Iraq has set its official selling price for December Basra medium crude oil to Asia at a discount of $0.35 to the average price of Oman/Dubai crude oil.November 9th - According to Japans TBS News, a 5.6-magnitude earthquake struck off the eastern coast of Honshu, Japan, at 6:28 PM local time on the 9th, with a focal depth of 10 kilometers. The epicenter was located off the coast of Sanriku, and Morioka City in Iwate Prefecture experienced noticeable tremors with an intensity level of 3. A 6.7-magnitude earthquake had just struck the same area at approximately 5:03 PM local time on the 9th, triggering a tsunami. According to the latest observations, the tsunami has reached several locations in Iwate Prefecture, including Miyako, Kuji Port, and Ofunato. No casualties have been reported so far.

Hang Seng Index, ASX200, Nikkei 225: Hang Seng Stumbles Early

Cory Russell

Feb 06, 2023 15:51


Market Snapshot

This morning's session was diverse. The Hang Seng Index touched reverse this morning as market risk sentiment was affected by US economic statistics from Friday.


Fears of a more hawkish Fed action in March increased as a result of the significant increase in nonfarm payrolls and the decline in the US unemployment rate to 3.4%. The ISM Non-Manufacturing PMI figures allayed the immediate fears of a US economic downturn, providing the Fed even another justification for continuing to front-load to combat inflation.


Investors also reacted to Alphabet Inc. (GOOGL) and Apple Inc.'s (AAPL) dismal results and bleak outlooks, which helped to explain the NASDAQ Index's 1.59% decline on Friday.


There were no statistics or geopolitical developments this morning to influence the overall market risk attitude. The markets will require FOMC member talk to restore order after last week's US economic readings. The Fed Funds Rate is predicted to increase by 25 basis points to 5%. Any rumors of a more forceful action would be negative.

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