► Global equities started Q4 with gains after it's poor performance in Q3. MSCI’s all-country equity index marking its poorest performance since September 2022. Analyst say that the recent rally, while a relief, represents a temporary clearing of concerns, as market sentiments are still heavily influenced by interest rate / yields dynamics and the Fed's hawkish stance.
► European equities, led by the Stoxx 600, opened moderately higher, registering a 0.15% uptick. Europe's manufacturing domain witnessed mixed indicators. Germany's Manufacturing PMI for September rose slightly to 39.60 points from August's 39.10 points, albeit missing the consensus mark of 39.8. In contrast, France saw its Manufacturing PMI dip to 44.20 points in September, down from August's 46 points. However, it surpassed the consensus prediction of 43.6. More data is awaited throughout the day including Eurozone Unemployment data (09:00 UTC+0).
► In the US, futures on the Nasdaq 100 showcased a relief rally currently trading 0.7% higher following the weekend legislation that ensures the government will run until Nov. 17. Yet, with the imminent threat of a shutdown subsided, attention shifts back to central banks and their future policy direction.
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