Flash News

TREE NEWS reports: On Wednesday, October 7, the gold ETF closed down 1.67%, leading declines among major US asset-class ETFs. The US real estate ETF fell 1.38%, the emerging markets ETF 1.32%, the Russell 2000 ETF 1.29%, the agriculture fund 1.25% and the Barclays US convertible bond ETF 1.02%. The Dow ETF, euro long, soybean fund, Nasdaq 100 ETF, S&P 500 ETF and 20+ year US Treasury ETF each fell at most 0.69%.

TREE NEWS reports: Nine of the S&P 500’s 11 sectors closed lower, led by a 2.14% drop in industrials, with Caterpillar, EMCOR Group, Allegion, United Rentals and Comfort Systems among the biggest decliners. Materials and real estate fell as much as 1.53%, energy slipped 0.46%, and information technology and telecoms lost up to 0.1%. Health care was the standout gainer, rising 1.06%.

TREE NEWS update: Wolfspeed shares rose 12% in after-hours trading after the company was set to receive a $1.5 billion conditional loan from the Pentagon. The financing is structured as a conditional loan tied to the U.S. Department of Defense. No further terms of the loan were disclosed.

TREE NEWS reports: The Bloomberg Electric Vehicle Price Return Index fell 1.14% to 3,170.73 on Wednesday, October 7, extending losses from the start of Asia-Pacific trading. London-listed ITM Energy dropped 6.47% and Hong Kong-listed Chery Automobile fell 5.39%, leading decliners alongside Lucid Group and MP Materials. Yadea Group rose 1.62%, NIO 1.88%, Li Auto 2.11% and XPeng 2.15%, while Volvo Car Group gained 3.49%.

TREE NEWS reports: The S&P 500 closed preliminarily down 0.2%, with industrials off 2.1%, materials 1.5% and real estate 1.2%, while healthcare gained 1%. The Nasdaq 100 also fell 0.2%, as Strategy dropped 7.1%, NBIS 5.3% and CrowdStrike 4.8%; Micron rose 3.8% and Amgen 2.6%.

TREE NEWS reports: The Nasdaq Golden Dragon China Index closed provisionally about 0.1% higher, with GDS up 2.2% and NIO, JD.com and Li Auto each gaining at least 1%. Ctrip slipped 0.4%, Hesai dropped 1.3% and Baidu fell 1.9%. Among ETFs, CQQQ declined 1.2% and KWEB lost 0.7%.

TREE NEWS update: Duke Energy and the state of North Carolina have reached an agreement establishing a separate electricity rate class for large-load customers, shielding ordinary ratepayers from data center-related costs. Under the deal, data centers must pay grid interconnection costs upfront. The agreement covers Duke Energy’s North Carolina service territory.

TREE NEWS reports: The euro fell 0.55% against the dollar to 1.1196 in late New York trading on Wednesday, October 7, extending losses from the start of the Asia-Pacific session and touching a low of 1.1161 at 20:27 Beijing time, its weakest since October 5. Sterling dropped 0.48% to the dollar, while the dollar rose 0.22% against the Swiss franc. Among commodity currencies, the Australian dollar fell 0.28% and the New Zealand dollar 0.41%, while the dollar gained 0.36% against the Canadian dollar.

TREE NEWS reports: The dollar fell 0.04% against the yen to 158.04 in late New York trade on Wednesday, October 7, with an intraday range of 158.51 to 157.85. A V-shaped reversal occurred around 16:00 Beijing time. The euro dropped 0.58% and sterling 0.51% versus the yen, while the yen rose 0.05% against the offshore yuan.

TREE NEWS update: Ghana’s Foreign Minister Ablakwa said on the 6th that the country has decided to formally apply to join the BRICS cooperation mechanism. Ablakwa said the decision aims to diversify Ghana’s international partnerships, expand its economic development opportunities, and strengthen cooperation with emerging economies within the Global South and South-South framework.

TREE NEWS reports: The ICE US Dollar Index rose 0.41% to 102.253 in late New York trading on Wednesday, October 7, with an intraday range of 101.903 to 102.499, after extending gains from the Asia-Pacific open and hitting a session high at 20:27 Beijing time. The Bloomberg Dollar Spot Index gained 0.28% to 1223.60, trading between 1220.06 and 1226.24.

TREE NEWS reports: US Treasury yields traced a V-shaped session on Wednesday, October 7, with the 10-year note ending up 0.23 basis point at 5.2816% after touching a session high of 5.3624% at 21:27 Beijing time and dropping sharply when the Treasury’s bond auction results were released at 01:00. The two-year yield fell 3.35 basis points to 4.7661%, the 30-year rose 0.93 basis point to 5.6668%, and the 2s/10s spread widened to +51.338 basis points.

TREE NEWS reports: The US Bureau of Safety and Environmental Enforcement (BSEE) said about 25.08% of oil production and 16.37% of natural gas production in the Gulf of Mexico is currently shut in. The agency did not give a reason for the outage or a timeline for restoring output in the notice.

TREE NEWS update: Pakistan’s military is already carrying out defense cooperation with Saudi Arabia across multiple domains and capabilities, Inter-Services Public Relations Director General Ahmed Sharif Chaudhry said on the 7th. The statement gave no further details on the scope or scale of the cooperation.

TREE NEWS update: A magnitude 4.8 earthquake struck northeastern Chiba Prefecture at about 4:13 a.m. local time on the 8th (3:13 a.m. Beijing time), Japan’s Meteorological Agency said. The epicenter was at 35.7 degrees north latitude and 140.7 degrees east longitude, with a depth of about 50 kilometers. Tremors were felt in the capital, Tokyo, and the agency said there is no risk of a tsunami.

TREE NEWS reports: The White House has asked the Pentagon to provide options for strikes against Iran. The request was reported by The Atlantic. No further details on the timing, scope, or targets of any potential military action were given.

TREE NEWS update: Indonesia’s senior mining minister Bahlil Lahadalia said Wednesday the government is discussing a plan to pause approvals for new processing facilities producing semi-finished nickel products, in a bid to support prices. Oversupply of nickel intermediates has pushed prices lower, he said, adding that Jakarta may cut semi-finished output capacity and will keep curbing nickel mining quotas.

TREE NEWS update: US President Donald Trump will award the National Medal of Science on Thursday to Tesla and SpaceX CEO Elon Musk, Google co-founder Sergey Brin, Nvidia CEO Jensen Huang and AMD CEO Lisa Su, the first time Trump has presented the honor. Dell Technologies CEO Michael Dell and Microsoft CEO Satya Nadella will receive the National Medal of Technology and Innovation at a White House summit on science.

TREE NEWS update: Yemen’s Houthi movement said it launched 11 ballistic missiles in the past 24 hours at targets of the Saudi-led coalition south of the Bab el-Mandeb Strait and in the areas of Saqiya and Ras Al-Ara, leaving dozens killed and wounded. The statement, issued on the 7th local time, gave no further details on the targets or casualties.

TREE NEWS update: Saudi Arabia’s General Authority of Civil Aviation said Abha International Airport in the southwest and King Khalid International Airport in Riyadh were attacked between July 6 and 7, killing three people and injuring 36. Two women, from Morocco and Algeria, died at Abha, where 28 were hurt; a Sudanese man died at King Khalid, where eight were injured. All casualties were hospitalized and the authority is assessing damage and reviewing facility security.