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Wall Street poised to open with gains while political shake-ups roil markets in France, Japan
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....all Street poised to open with gains while political shake-ups roil markets in France, Japan<BR>PTI News<BR>Dated:- 6-10-2025<BR>PTI<BR>Tokyo, Oct 6 (AP) Wall Street pointed toward gains on early Monday as the US government shutdown dragged into a second week, while markets in Japan and France were roiled by unexpected political shake-ups. Futures for the S&P 500 gained 0.3 per cent while future....
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....s for the Dow Jones Industrial Average registered a 0.2 per cent gain. Nasdaq futures climbed 0.7 per cent. Share of Fifth Third Bancorp dipped 4.7 per cent after the regional bank announced that it is buying Comerica for USD 10.9 billion in an all-stock deal that will create the 9th largest US bank. The combined company will have operations in the Southeast, Texas and California, and solidify F....
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....ifth Third's position in the Midwest. Comerica shares jumped 10.9 per cent before markets opened. Advanced Micro Devices soared more than 27 per cent after the semiconductor company announced that it will supply its chips to ChatGPT maker OpenAI as part of a deal to team up on artificial intelligence infrastructure. AMD will provide OpenAI with the latest version of its high-performance graphi....
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....cs chips, expected to debut next year. An unconfirmed report that US President Donald Trump might be considering ways to reduce the cost of his higher tariffs on auto parts and other materials for US manufacturers helped automakers' share prices overseas. Toyota Motor Corp.'s shares jumped 4.9 per cent in Tokyo, and Honda Motor Co. gained 4.1 per cent. The shutdown of the US government means f....
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....ewer economic data releases this week, though markets will have some earnings reports to comb through, including Delta Air Lines, PepsiCo and Levi Strauss. Despite the shutdown, the Federal Reserve will release minutes from its meeting last month when it cut its benchmark interest rate for the first time this year. Japan's Nikkei stock index jumped nearly 5 per cent on Monday to a new record c....
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....lose, while shares in France fell back nearly 2 per cent at midday after its prime minister resigned less than a month after taking office. France's new prime minister, Sébastien Lecornu, resigned just a day after he named his government, drawing a backlash across the political spectrum for his choice of ministers. French politics have been in disarray since President Emmanuel Macron called sna....
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....p elections last year that produced a deeply fragmented legislature. In Germany, the DAX rose 0.3 per cent while Britain's FTSE 100 gained 0.2 per cent. In Asia, Tokyo's Nikkei 225 soared 4.8 per cent to 47,944.76, but the Japanese yen weakened after the ruling Liberal Democratic Party chose ultra-conservative lawmaker Sanae Takaichi as its leader and likely Japan's first woman prime minister.....
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.... In intraday trading, the Nikkei climbed as high as 48,150.04. Takaichi, 64, was an ally of the late Prime Minister Shinzo Abe and is expected to carry on with his market-friendly policies since she backed his traditionalist vision for the country. She is almost certain to become prime minister because the LDP has the most seats in the lower house, although not a majority. It chooses the prime....
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.... minister, and opposition groups are splintered. The yen slipped against the US dollar on expectations that Takaichi will boost spending, likely adding to inflationary pressures. The dollar rose to 150.31 Japanese yen from 149.33 yen. The euro slipped to USD 1.1674 from USD 1.1730. Investors, especially non-Japanese ones, were pleased, said Neil Newman, head of strategy at Astris Advisory Japa....
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....n. “Obviously, investors like what she has been saying and certainly today, judging by the number of stocks that moved and which stocks moved, it seems like it's pretty much led by foreigners so far," Newman said. Defence-related shares got a big boost, given Takaichi's hawkish stance. Stock in Kawasaki Heavy Industries leapt 9.2 per cent and Mitsubishi Heavy Industries soared 11.1 per cent.....
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.... Elsewhere in Asia, Hong Kong's Hang Seng index sank 0.7 per cent to 26,957.77. Markets in mainland China were closed for a holiday. They reopen on Thursday. Markets were also closed in Taiwan and South Korea, among other places. In Australia, the S&P/ASX 200 shed 0.1 per cent to 8,981.40. Markets in mainland China, Taiwan and South Korea were closed for holidays. In energy trading, US b....
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....enchmark crude oil gained 51 cents to USD 61.39 per barrel. Brent crude, the international standard, added 59 cents to USD 65.12 per barrel. A group of countries that are part of the OPEC+ alliance of oil-exporting countries agreed during the weekend to a small boost in oil production, citing a steady global economic outlook. That alleviated fears of an oversupply. (AP) SKS SKS SKS<BR> News - Pr....
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....ess release - PIB....