Asia Pacific stocks were mostly down on Tuesday morning. The Shanghai composite is down 1.35% at 3,664.57. Overall, the Singapore MSCI up 0.48% at 353.75. Over in Hong Kong, the Hang Seng Index down 1.61% at 25,368. In Japan, the Nikkei 225 up 0.23% at 30,400, while the Topix index is up 0.62% at 2099.0. South Korea’s Kospi up 0.67% to 3148.83. Australia S&P/ASX 200 up 0.16% at 7437.3.
European equities Monday closing. The DAX futures contract in Germany traded up 0.59% at 15701.42, CAC 40 futures up 0.20% at 6676.94 and the UK 100 futures contract in the U.K. down 0.15% at 7,055.30.
In U.S. on Wall Street, the Dow Jones Industrial Average closed up 0.76% at 34869.64. The S&P 500 up 0.23% at 4468.72 and the Nasdaq 100 down 0.04% at 15434.50, NYSE closes at 16635.38 up 0.43%.
In the Forex market, GBPUSD up 0.12% at 1.38545. The USDJPY up 0.09% at 110.038. The USDCHF flat at at 0.9210. EURUSD up 0.05% at 1.18161, EUR/GBP flat at 0.8529. The USD/CNY down 0.07% at 6.4470 at the time of writing.
In the commodity market U.S. Gold futures down 0.03% at $1,792.71. Elsewhere, Silver futures down 0.13% to $23.70 per ounce, Platinum down 0.62% at $959.80 per ounce, and Palladium down 0.86% at $2,068.00.
Crude Oil up on Tuesday; Brent crude oil up 0.45% at $73.96 per barrel while U.S. West Texas Intermediate (CLc1) is up 0.49% at $70.05.
In the Cryptocurrency Markets, BTCUSD at 45859.11 up 2.02%, Ethereum up 1.67% at 3336.51, Litecoin at 179.93 up 0.44%, at the time of writing.
TOP STOCKS TO WATCH OUT TODAY:
Marathon Oil Corp. up 7.187% at $12.08, Hess Corp. up 5.342% at $71.39, Moderna Inc. down 6.6% to $419.72, Intel Corp. up 2.136% to $54.99, Microchip Technology Inc. up 2.045% to $160.70, DocuSign Inc. down 2.14% at $271.22.
US: Leading Democrats in the U.S. House of Representatives on Monday proposed a substantial roll-back of former President Donald Trump’s tax cuts, including raising the top tax rate on corporations to 26.5% from the current 21%.
Democrats on the powerful House Ways and Means Committee said they will debate legislation this week that would achieve the changes as part of their broader, $3.5 trillion domestic investment plan.
In an attempt to finance the new spending, the Democratic-led committee will debate a proposal to raise $2.9 trillion in revenue over 10 years, according to a document circulated among members of the panel.
Besides increasing corporate taxes, wealthy individuals would see a jump in their income taxes as well as higher capital gains and estate taxes.
Even if the legislation as proposed passes Congress and is signed by Democratic President Joe Biden, corporate taxes would still be lower than they were before the enactment of the tax cuts pushed through by Republicans in 2017. But the top individual income tax rate would revert to its pre-2017 level.
Eurozone: British firms must do more to take advantage of new export routes opened up by Brexit, trade minister Liz Truss will say on Tuesday, calling for a shift from “defence to offence in trade” to help drive economic growth.
Truss will point to government research showing Britain’s comparative economic advantage – what Britain can do better and more efficiently than its peers – lies in providing digital and financial services to fast-growing Asian economies.
“The path to economic revival does not lie in retreating and retrenching but in free trade and free enterprise,” she will say in a speech, according to advance extracts.
“British employers can only benefit from free trade by selling their products, innovation, capital, and ideas overseas.”
Important Data: US Core CPI (MoM) (Aug) today at 8:30 this time estimated 0.3%, previously which was 0.3%. CANADA Manufacturing Sales (MoM) (Jul) today at 8:30 this time estimated -1.2%, previously which was 2.1%. CHINA Industrial Production (YoY) (Aug) today at 22:00 this time estimated 5.8%, previously which was 6.4%. AUSTRALIA Westpac Consumer Sentiment (Sep) today at 20:30 previously which was -4.4%.
TRADE SUGGESTION- BUY AT 1.38662, TAKE PROFIT AT 1.38914 AND STOP LOSS AT 1.38439
TRADE SUGGESTION- SELL AT 1.1823, TAKE PROFIT AT 1.1796 AND STOP LOSS AT 1.1839
TRADE SUGGESTION- BUY AT 109.964, TAKE PROFIT AT 110.128 AND STOP LOSS AT 109.860
TRADE SUGGESTION- BUY AT 0.9211, TAKE PROFIT AT 0.9232 AND STOP LOSS AT 0.9200
TRADE SUGGESTION- SELL AT 7045.20 TAKE PROFIT AT 7016.6 AND STOP LOSS AT 7063.9
WTI CRUDE OIL
TRADE SUGGESTION- BUY AT 71.05 TAKE PROFIT AT 71.98 AND STOP LOSS AT 70.47
TRADE SUGGESTION- SELL AT 1788.83, TAKE PROFIT AT 1779.81 AND STOP AT 1797.70
TRADE SUGGESTION- SELL AT 3311.67 TAKE PROFIT AT 3212.61 AND STOP AT 3374.93