2023-10-06 14:19:20
Published at 08:46, updated at 08:51
(Illustration: Camille Charbonneau)
THE ESSENTIAL NEWS
• Data on employment in the United States might allow the Fed to decide between raising or maintaining rates. Friday’s new U.S. jobs report will indicate whether the labor market continued to moderate in September, which might provide an important benchmark for U.S. Federal Reserve officials as they decide whether to proceed to a further rise in interest rates this year or not.
• Bond yields are pushing the global economy toward a “soft landing.” Soaring U.S. government bond yields, which have led to a global rise in borrowing costs, raise new risks for economic policymakers hoping to reduce inflation without triggering a major crisis.
• Exxon in advanced talks to acquire Pioneer for $60 billion — sources. Exxon Mobil is in advanced talks to acquire Pioneer Natural Resources in a deal that might value the Permian shale basin producer at regarding $60 billion, people familiar with the matter said Thursday.
• Tesla reduces prices of Model 3 and Model Y in the United States. Tesla cut prices of its Model 3 compact sedan and Model Y SUV in the United States by regarding 2.7% to 4.2% to boost demand for its electric vehicles, days following the automaker fell short of delivery estimates for the third quarter.
• Canada welcomes a panel’s decision ordering the United States to review its softwood lumber policy. Canada on Thursday welcomed a ruling by a trade dispute panel that calls on the United States to review parts of its softwood lumber policy, which imposes duties on most lumber products. this type exported by their northern neighbor.
TRENDS BEFORE OPENING
Futures on Canada’s main stock index and major Wall Street indices edged higher as investors focused on the U.S. nonfarm payrolls report due later in the day. The STOXX 600 advances for the second consecutive session. Most Asian stock markets rose, while the Nikkei closed lower, led by declines in major technology stocks. The weakness of the US dollar increases the appeal of gold. Oil rises slightly, despite a further partial lifting of Russia’s fuel export ban.
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