1.The S&P 500 energy index led sector percentage gains, rising 3.8% on the day, following a jump in oil prices. The Russell 2000 small-cap index was up 1.1%The Dow Jones Industrial Average rose 122.05 points, or 0.43%, to 28,425.51, the S&P 50 gained 27.38 points, or 0.80%, to 3,446.83 and the Nasdaq Composite added 56.38 points, or 0.5%, to 11,420.98.
2.Oil prices ended higher Thursday as Hurricane Delta forced the shut-in of more than 90% of the Gulf of Mexico’s crude output and the Saudis reportedly consider postponing OPEC plans to raise output. West Texas Intermediate crude for November delivery rose $1.24, or 3.1%, to settle at $41.19 a barrel on the New York Mercantile Exchange. December Brent crude, the global benchmark, added $1.35, or 3.2%, at $43.34 a barrel on ICE Futures Europe.
3.U.S. explores restrictions on Ant Group, Tencent payment platforms over concerns their digital payment platforms threaten national security. Ant group chose Citigroup, JP Morgan and Morgan Stanley as sponsor for its IPO. If U.S. government ban American companies trade with Ant, Ant Group has to replace most of its sponsors. Meanwhile, U.S.-Funded funds, and institutional investors cannot participate in Ant’s IPO, which will definitely affect its valuation of IPO.
4.Germany is to enforce difficult brand-new limitations on telecoms devices suppliers which will efficiently exclude Huawei from the buildout of the nation’s 5G phone networks. The German parliament requires the legal means to be able to exclude untrustworthy suppliers like Huawei from the 5G buildout.
5.There is “clear evidence of collusion” between Huawei and the “Chinese Communist Party apparatus”, a parliamentary inquiry has concluded. And the MPs say the government may need to bring forward a deadline set for the Chinese firm’s 5G kit to be removed from the UK’s mobile networks.
6.New digital currency is coming which cannot be converted to gold or foreign currencies! On October 8th, the Shenzhen Municipal Government Service Data Administration announced event for individuals in Shenzhen to issue 10 million yuan red envelopes, and the total number of red packets is 50,000. At present, the “Digital RMB App” is in the closed beta stage, and the successful candidates will become the first large-scale internal testers.
By 【G-Translators – Financial and Law Team-Tracy】