Morning Briefing: Global stocks higher ahead of Q3 earnings

Morning Briefing: Global stocks higher ahead of Q3 earnings

Morning Briefing: Global stocks higher ahead of Q3 earnings Global stocks higher ahead of Q3 earnings
The global markets have been broadly higher so far Tuesday ahead of the third quarter earnings season.

Asian markets closed with gains following a strong lead from Wall Street. The Bank of Japan began a two day policy meeting and could announce some surprises according to analysts. Meanwhile Australia’s central bank announced its decision to hold interest rates at 2 per cent. Shanghai has been closed over the last week due to holidays but reopens Wednesday.

European indexes are subdued following German data showing weakness in the industrial sector. It follows figures in the previous session which showed a drop in business activity in the Eurozone bloc. 
The TSX and Wall Street are expected to open slightly lower following three-digit gains Monday. Earnings will be closely watched with Pepsi and Yum! Brands among those reporting. There will also be further reaction to the TPP trade agreement.
 
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North America (previous session)
US Dow Jones 16,776.43 (+1.85 per cent) +4.19 per cent -1.27 per cent
TSX Composite 13,552.20 (+1.59 per cent) +0.55 per cent -8.08 per cent
 
Europe (at 6.10am ET)
UK FTSE 6,295.88 (-0.05 per cent) +4.19 per cent - 4.08 per cent
German DAX 9,856.01 (+0.42 per cent) -1.81 per cent +7.02 per cent
 
Asia (at close)
China CSI 300 3,202.95 (+0.76 per cent) -4.73 per cent +30.68 per cent
Japan Nikkei 18,186.10 (+1.00 per cent) +2.21 per cent +14.44 per cent
 
Other Data (at 6.10am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
49.33
(+0.16 per cent)
46.10
(-0.35 per cent)
1137.30
(-0.03 per cent)
U$0.7643
 
Aus. Dollar
U$0.7115


Is oil about to rebound?
The chief executive of Royal Dutch Shell believes that oil prices could be turning the corner. Ben van Buerden said Tuesday that "I see the first mixed signs for recovery of oil prices.” However the resilience of the US shale producers and high stockpiles mean that the recovery will be a slow process he said. The long term issue could be the scaling back of production that has happened as oil companies reduce capital expenditure by canceling projects. That, Mr van Buerden says, could mean an upward spike in prices at some point.