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US futures are up as the SMI shows signs of recovery, with anticipation building for US labor market data. In China, the Caixin/S&P Global PMI for manufacturing improved in October, indicating a gradual economic recovery, though the labor market remains pressured. Economists suggest that boosting household disposable income is crucial for achieving China's 2024 growth target. The Shanghai Stock Exchange rose 0.6%, while major companies in Shanghai and Shenzhen saw a 0.9% increase.
Asia-Pacific markets experienced declines, led by Japan's Nikkei 225, which fell over 2% following significant losses on Wall Street. The S&P 500 and Nasdaq Composite recorded their worst days in nearly two months, influenced by disappointing earnings forecasts from Microsoft and Meta. Traders are awaiting key economic data, including China's manufacturing PMI, while Australia's producer prices index showed a year-on-year increase of 3.9%.
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us futures rise as china's manufacturing shows signs of recovery
11:45 01.11.2024
asia markets decline as wall street suffers worst day in two months
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00:52 01.11.2024
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