Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Fears 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
China Inflation Cools in July as CPI Misses Forecast, PPI Deflation Eases 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
BOJ Signals Faster Rate Hikes as Inflation Risks Raise September Move Odds 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Japan Executives Warn Weak Yen and Currency Volatility Threaten Economy 
Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
US Stock Futures Flat as Iran Strait of Hormuz Demands Fuel Oil Concerns 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
China Exports Beat July Forecasts as AI Demand Fuels High-Tech Trade 
Australian Shares Fall as Westpac Slides, Miners Gain Ahead of RBA Decision 
Asian stock markets opened cautiously on Monday as investors awaited developments on a potential U.S. government shutdown. President Donald Trump is set to meet with congressional leaders later in the day to discuss extending federal funding. Without a deal, the shutdown would begin Wednesday, coinciding with the implementation of new U.S. tariffs on trucks, pharmaceuticals, and other goods.
Analysts warn a prolonged closure could hinder the Federal Reserve’s policy decisions ahead of its October 29 meeting, as key reports like September payrolls would be delayed. Bank of America noted that while private data could fill gaps, the lack of official government releases may slightly reduce the likelihood of an October rate cut, though markets still price in a 90% chance. Growth impacts are expected to be minor, with estimates of a 0.1% reduction in GDP per week of closure. However, permanent job cuts tied to the shutdown could weigh on employment and consumer confidence.
Despite political uncertainty, equities may find support in seasonal trends. Historically, the fourth quarter has been favorable for U.S. stocks, with the S&P 500 posting gains nearly three-quarters of the time. On Monday, S&P 500 and Nasdaq futures gained 0.2%, while European futures, including Eurostoxx 50, FTSE, and DAX, also rose 0.3%. Japan’s Nikkei dipped 0.7% after a strong September, while South Korea’s market advanced 1.2%. MSCI’s Asia-Pacific index outside Japan rose 0.4%, adding nearly 4% in September.
Treasury yields steadied at 4.17% after recent pressure from strong U.S. economic data. The dollar index held firm at 98.134, with the euro trading at $1.1708 and the yen at 149.49.
In commodities, gold hovered near record highs at $3,764 an ounce, while oil prices eased. Brent crude slipped 0.8% to $69.57, and U.S. crude fell 0.9% to $65.14 as Iraq resumed exports through a key pipeline. OPEC+ is expected to approve another output hike of at least 137,000 barrels per day at its upcoming meeting.
