All You Need To Know Going Into Trade On October 18
Asia stocks and U.S. futures slid Monday as surging energy prices cemented worries about inflation, sending bond yields higher.
Equities fell in Japan and South Korea. Australia rose. U.S. contracts dipped after Wall Street stocks advanced on Friday, with the S&P 500 chalking its best week since July as earnings buoyed sentiment.
The Singapore-traded SGX Nifty, an early indicator of India's Nifty 50 Index’s performance, rose 0.30% to 18,458.50 as of 6:45 a.m.
China’s third-quarter gross domestic product due Monday along with monthly industrial and investment data will be closely watched to gauge the severity of electricity shortages. Meanwhile, People’s Bank of China remained confident of containing risks posed to the Chinese economy and financial system from the struggles of China Evergrande Group.
Energy prices extended their advance with West Texas Intermediate crude oil rising above $83 a barrel to the highest since 2014. Brent topped $85 a barrel, the highest since 2018. Bitcoin rallied back above $62,000 as the first U.S. Bitcoin Futures ETF may debut Monday.