Economic news moving markets.

Teck’s Highland Valley copper mine slows output amid strike

About 1,200 United Steelworkers members walked off the job Saturday at Teck Resources' Highland Valley Copper site in British Columbia, forcing the company to scale back production until the dispute is resolved.

South Korea’s economy grows 1.0% in third quarter as chip exports surge

South Korea's GDP climbed 1.0% quarter-on-quarter in Q3, topping the 0.7% consensus call, as a boom in semiconductor shipments and factory investment offset household spending's first pullback in close to four years.

China’s factory earnings surge 14.4% in September after August dip

Large Chinese industrial companies saw profits climb 14.4% from a year earlier in September, a sharp turnaround from August's 4.2% gain, official figures show. The data carry implications for Chinese stocks and commodity-tied currencies.

TD Securities sees core PCE at 3.1%, GDP growth at 2.5% for Q3

TD Securities forecasts September core PCE inflation at 3.1% year-on-year and Q3 US GDP growth at 2.5% annualized, pointing to persistent price pressure alongside still-solid economic activity.

EQT buys Range Resources in $50 billion stock-for-stock gas merger

EQT Corp has agreed to acquire Range Resources in an all-share transaction worth over $50 billion including debt, forming what the two firms describe as America's largest vertically integrated natural gas producer.

Dollar Index edges toward 102.00 ahead of packed central bank week

The US Dollar Index rose 0.24% to around 101.98 on Monday as investors positioned for rate decisions from five G10 central banks, including a Fed meeting on Wednesday widely expected to hold rates.

US and Canada reportedly discuss easing steel, auto tariffs

Sources say Washington and Ottawa are negotiating lower tariffs on Canadian steel and auto imports, with a possible agreement before the November 3 midterms, though the talks remain unconfirmed.

Dutch gas benchmark climbs to three-year peak as EU reserves fall behind

The Dutch TTF front-month contract gained 2.1% to reach $107.40 per megawatt-hour on Monday, its strongest level since 2022, with European stockpiles trailing their typical seasonal pace and Qatari LNG shipments still constrained.

WTI crude eases toward $100 as Fed, ECB, BoJ decisions loom

WTI crude oil has pulled back from a five-month high of $103.28 to near $100 a barrel as traders turn cautious ahead of a week of central bank meetings.

German Ifo index climbs to 90.2 in October, topping forecasts

The Ifo Institute's Business Climate Index for Germany rose to 90.2 in October from 89.9 in September, beating expectations for a slight dip. The euro firmed modestly against the US dollar on the release.

Saudi crude output rises 12.2% to 8 million bpd in September

Saudi Arabia's crude oil production climbed 12.2% month-on-month in September to 8 million barrels per day, according to Al Rajhi Capital Research data, as the Kingdom rerouted exports around disrupted Gulf shipping lanes.

Houthis report fresh assault on Saudi East-West pipeline stations

Yemen's Houthi forces said Monday they struck pump facilities along Saudi Arabia's East-West crude pipeline, the Kingdom's main alternative route to the Strait of Hormuz. Riyadh had yet to confirm the claim.

Russia’s Arctic oil route stalls as ships get stuck in sea ice

A group of sanctioned Russian tankers were stranded for up to two weeks near the Vilkitsky Strait on the Northern Sea Route in July, highlighting the limits of Moscow's Arctic export ambitions despite record crude and LNG volumes this year.

France’s 10-year yield falls 4.5bp after Moody’s holds Aa3 rating

France's 10-year OAT yield dropped 4.5 basis points to 4.976% after Moody's kept its sovereign rating at Aa3, easing a selloff that had pushed yields to their highest since June 2002.

PBoC launches swap facility to back non-bank bond market liquidity

The People's Bank of China (PBoC) started a new Bond Market NBFI Swap Facility on Monday, giving selected non-bank financial institutions a backstop against sudden liquidity strains in bond holdings.

Bond yield surge puts Asian banks under scrutiny before Q3 results

A sharp rise in global bond yields earlier in October has hit Asia-focused bank shares and raised concerns about capital buffers ahead of third-quarter earnings from HSBC, Standard Chartered and DBS.

EU gas storage fills to 74.62%, still trailing 5-year average

European Union underground gas storage reached 74.62% of capacity as of October 24, data from Gas Infrastructure Europe (GIE) show, leaving inventories 14.92 percentage points below the five-year seasonal average.

Lula’s re-election win triggers Brazilian real, stock selloff fears

Brazilian President Luiz Inácio Lula da Silva's unexpected victory over Flavio Bolsonaro wrong-footed markets that had bet on a fiscally tighter opposition government, sending early indicators of Brazilian assets sharply lower in Asian trading.

Microsoft, Alphabet and Amazon earnings to test AI spending story

Microsoft and Alphabet report on Wednesday, October 28, with Amazon following on Thursday, October 29, in a week investors see as a key check on whether heavy AI investment is paying off for Big Tech.

Equity funds pull in $28.16 billion as Treasury yields retreat

Global stock funds drew net inflows of $28.16 billion in the latest week, up from $19.88 billion previously, as falling US Treasury yields and solid earnings lifted demand for shares.