Morning wrap (02.09.2021)

• US indices finished yesterday's trading higher. S&P 500 gained 0.03%, Nasdaq moved 0.33% higher and Russell 2000 added 0.58%. Dow Jones was a laggard as it dropped 0.14%

• Stocks in Asia are trading mixed on Thursday. Nikkei gains, S&P/ASX and Kospi drop while indices from China struggle to find common direction

• DAX futures point to a lower opening of the European session

• China announced that it will require all foreign vessels entering the South China Sea to register with China's maritime authorities. United States have already said that measures undertaken by China are unlawful

• Hurricane Ida has reached the northeastern part of the United States causing local floodings on its way. Subway services in the New York City have been suspended and a state of emergency was declared

• OPEC+ decided to continue with gradual output increases at the pace of 400k bpd per month

• Bitcoin is trading slightly below $50,000 mark following an overnight rally

• Gold and silver trade flat while platinum and palladium drop. Oil trades lower while most of the industrial metals gain

• AUD and GBP are the best performing major currencies while CHF and NZD lag the most

Nikkei (JAP225) is pulling back slightly today. The index reached the downward trendline yesterday, that marks the upper limit of the descending triangle pattern. A pullback towards the lower limit at 27,730 cannot be ruled out. Source: xStation5