China spends, eyes on whether Europe lends
) parent Meta reports after-market on Wednesday. Its shares had fallen on Tuesday and slipped a little further after hours as dozens of U.S. states sued the company and its Instagram business, accusing them of addicting teens.), owner of Gucci and Balenciaga, reported a bigger-than-expected drop in third-quarter sales. That was worse than the slowdown reported by LVMH, and the surprise jump in sales logged by Birkin-bag maker Hermes on Tuesday, which sent its shares up 3%.
Gucci's revamped look, unveiled last month in Milan by designer Sabato De Sarno, is yet to hit stores.In Asia, China's plans to raise a trillion yuan in sovereign debt boosted Chinese shares in anticipation of spending and lifted MSCI's broad index of Asia ex-Japan stocks away from Tuesday's 11-month low.
Central Huijin's vow to buy exchange-traded funds and keep doing so was also reminiscent of similar announcements from the state fund that drove strong rallies in 2013 and 2015. dollar was the main mover in the foreign exchange market, rising as surprisingly strong inflation data prompted traders to re-price the risk of another rate hike.
Just this week, RBA Governor Michele Bullock said the bank would not hesitate to raise its 4.1% cash rate if there was a"material" upward revision to the inflation outlook.Economics: Euro zone lending, German business surveyWe encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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