are up +0.08%, pointing to a flat open today. Asian markets were mostly higher, as optimism over China’s anticipated fiscal stimulus and a weaker US provided positive momentum. European markets are mixed in early trades. The upcoming NPC Standing Committee meeting in China, scheduled for 4-8 Nov, has drawn significant attention regarding potential fiscal stimulus measures. Current estimates suggest a range between CNY6-10T over multiple years. This package may focus on local government debt swaps. An announcement of a supplementary budget is considered possible, with estimates leaning towards CNY6T. The outcome of the U.S. presidential election could significantly influence the stimulus size, with predictions suggesting a larger package if Trump wins, potentially reaching 3% of GDP annually, while a Harris win might align closer to 2% of GDP.
Companies Mentioned: Air Transport Services Group, Mars, Inc., Brookfield Asset Management (TSX:), Comcast (NASDAQ:), NVIDIA (NASDAQ:), Retail Opportunity Investments, Paramount Global (NASDAQ:), B. Riley Financial
