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☆ Morning Bid: Markets wary Powell may undermine rate-cut bets
▼ + stars: | 2023-12-01 | by ( ) www.reuters.com time to read: +3 min

Federal Reserve Chair Jerome Powell answers a question during a press conference at the Federal Reserve in Washington, U.S., November 1, 2023. The disconnect between financial markets and central banks has only deepened as central banks push back against talk of rate cuts while markets take in the relatively more benign inflation data of recent weeks. That helped to embolden markets to take on rate-cut bets. Markets are now pricing in a 46% chance of the central bank cutting rates in March, the CME FedWatch tool showed. Speakers: Bank of England MPC member Megan Greene, ECB President Christine Lagarde, Fed Chair Jerome Powell.

Persons: Jerome Powell, Kevin Lamarque, Ankur Banerjee, Christopher Waller, Powell, Elon Musk, Megan Greene, Christine Lagarde, Edmund Klamann Organizations: Federal Reserve, REUTERS, Ankur, Fed, ECB, Reuters Graphics Reuters, Reuters, Bank of England, Thomson Locations: Washington , U.S, Europe, Asia, France, UK, Germany, Singapore

BEIJING, Dec 1 (Reuters) - Mixed factory activity data for China in November suggests more stimulus will be needed to shore up economic growth, analysts said on Friday, as two surveys came to contrasting conclusions on the sector's health. That was the fastest expansion in three months, but stands in contrast to the official PMI which fell to 49.4 on Thursday. "At face value, the average of the two is consistent with factory activity remaining largely unchanged last month," said Sheana Yue, China economist at Capital Economics. The official and Caixin surveys have different samples, with the Caixin PMI focusing on export-oriented enterprises and small- and medium-sized enterprises in the country's coastal region. Payroll cuts in the sector persisted for the third month in the Caixin survey and a ninth month in the official PMI.

Persons: Sheana Yue, Dan Wang, Xi Jinping, Liangping Gao, Joe Cash, Jacqueline Wong, Lincoln Organizations: P Global, PMI, Capital Economics, HSBC, Hang Seng Bank, Thomson Locations: BEIJING, China, Hang Seng Bank China, Shanghai

☆ Morning Bid: Treasuries on cusp of best month since 2008
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +3 min

Let's start with Treasuries because, if this were sports, we'd be calling it a comeback for the ages. Now, with some encouraging hints from Fed officials, 10-year notes are poised to celebrate their best month since the 2008 global crash, with yields down 61 basis points for November so far. Yields on two-year paper are down 31 bps just this week, the steepest drop since the U.S. mini-banking crisis in March. The European Union has inflation data of its own later on Thursday and analysts suspect the risks are for a downside surprise following subdued readings from Germany and Spain. The dollar index looks set for its worst month since November last year, with a loss so far of 3.7%.

Persons: Kevin Lamarque, Wayne Cole, Let's, we'd, Governor Waller, dovishness, Powell, Williams, Lagarde, Greene, Governor Bunge, Edmund Klamann Organizations: U.S . Treasury, REUTERS, Fed New, European Union, China PMI, BoE Monetary, CPI, PPI, Chicago PMI, Thomson Locations: Washington , U.S, Wayne, U.S, Germany, Spain, China, BoE, EU, Chicago

☆ China’s Xi Jinping visits financial hub Shanghai as Chinese economy sputters
▼ + stars: | 2023-11-30 | by ( Laura He | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —Chinese leader Xi Jinping has visited Shanghai for the first time in three years, as his government steps up efforts to prop up the country’s economy and financial markets. The visit, his first since 2020, comes as business confidence wanes in China and foreign companies pull out of the country. “General Secretary Xi Jinping’s visit to Shanghai sends important signals at a critical moment,” an editorial by Xinhua said Thursday. “Shanghai must be a vanguard of the country’s reform and opening up and a pioneer in its tech innovation and development,” Xi was quoted as saying by Xinhua. Earlier this month, Xi visited the United States for the first time in more than six years, where he met with President Joe Biden to amend ties between the two countries.

Persons: Xi Jinping, Xi, Lifeng, Cai Qi, Xi Jinping’s, ” Xi, Joe Biden Organizations: Hong Kong CNN, Shanghai Futures Exchange, Xinhua News Agency, PMI, Xinhua, “ Finance Locations: Hong Kong, Shanghai, China, Beijing, United States

All eyes are now on the personal consumption expenditure (PCE) index- the Fed's preferred inflation gauge- for October, due at 8:30 a.m. ET, which is expected to show inflation eased in the previous month. The PCE index is expected to rise 0.1% on a monthly basis in October, moderating from a 0.4% increase in September. Data cloud company Snowflake (SNOW.N) added 8.2% after it forecast fourth-quarter product revenue above Street estimates on artificial intelligence driven demand. Reporting by Shristi Achar A and Amruta Khandekar in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

Persons: Caitlin Ochs, Russ Mould, AJ Bell, Jefferies, Shristi Achar, Shinjini Organizations: New York Stock Exchange, REUTERS, Dow, Nasdaq, Wall, Federal Reserve, Dow e, Ford Motor, Inc, Thomson Locations: New York City, U.S, Chicago, Bengaluru

☆ Morning Bid: November bids adieu with inflation data, OPEC
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 26, 2023. With signs of turn emerging in Federal Reserve policy guidance and October PCE inflation readings set to encourage that later in the day, rate cut fever was in full flow across the Atlantic too. Headline annual inflation in the bloc fell as low as 2.4% - within arm's length of the ECB's 2% target. Later on Thursday, U.S. PCE inflation for the prior month is pencilled to fall 3.0% from 3.4% - with a core also ebbing to 3.5%. "Monetary policy is in a good place," Cleveland Fed President Loretta Mester said on Wednesday, echoing comments from previously hawkish Fed governor Christopher Waller the previous day.

Persons: Brendan McDermid, Mike Dolan, policymaker Fabio Panetta, Loretta Mester, Christopher Waller, John Williams, Christine Lagarde, Megan Greene, Kroger, Bernadette Baum Organizations: New York Stock Exchange, REUTERS, Treasury, Federal, European Central Bank, Bank of Italy, policymaker, U.S ., ECB, Cleveland Fed, Wall, OPEC, Dallas Fed, PMI, York Federal, Bank of England, Academy Sports, Rock Biotech, Titan, Reuters, Thomson Locations: New York City, U.S, China, Canada, Vienna, Automotive, Duluth, BOS, Jan

The official purchasing managers' index (PMI) fell to 49.4 in November from 49.5 in October, staying below the 50-point level demarcating contraction from expansion, data from the National Bureau of Statistics showed on Thursday. The new orders sub index contracted for a second consecutive month, while the new export orders component extended its decline for a ninth month. "Today's PMI reading will further raise expectations towards policy support," said Zhou Hao, economist at Guotai Junan International. "Fiscal policy will be under the spotlight and take centre stage over the coming year and will be closely monitored by the market." Factory PMI has contracted for seven out of the past eight months - rising above the 50-point mark only in September.

Persons: Goldman Sachs, Zhou Hao, Joe Cash, Kim Coghill, Jacqueline Wong Organizations: cnsphoto, REUTERS, National Bureau, Statistics, Standard Chartered, PMI, Guotai, Thomson Locations: Zunyi, Guizhou province, China, BEIJING

☆ China's factory activity extends declines in November
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +1 min

Employees work on the production line of glass panels for mobile phones at a factory in Zunyi, Guizhou province, China March 6, 2023. cnsphoto via REUTERS/File Photo Acquire Licensing RightsBEIJING, Nov 30 (Reuters) - China's manufacturing activity contracted for a second straight month in November and at a quicker pace, an official factory survey showed on Thursday, suggesting more policy support measures are needed to help shore up economic growth. The official purchasing managers' index (PMI) fell to 49.4 in November from 49.5 in October, staying below the 50-point level demarcating contraction from expansion. China's economy has struggled this year to mount a strong post-pandemic recovery, held back by a deepening crisis in the property market, local government debt risks, slow global growth and geopolitical tensions. A flurry of policy support measures has had only modest effect, raising pressure on authorities to roll out more stimulus. Reporting by Joe Cash; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Cash, Sam Holmes Organizations: cnsphoto, REUTERS, Rights, Reuters, Thomson Locations: Zunyi, Guizhou province, China, Rights BEIJING

FILE PHOTO: A screen showing the Hang Seng stock index is seen outside Exchange Square, in Hong Kong, China, August 18, 2023. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsDec 1 (Reuters) - A look at the day ahead in Asian markets. They include Australia, South Korea and India, as well as China's 'unofficial' PMI. Foreigners already appear to be voting with their feet - China just recorded its first-ever quarterly deficit in foreign direct investment. Here are key developments that could provide more direction to markets on Friday:- PMIs for Australia, South Korea, India, China- Japan unemployment (October)- Indonesia inflation (October)By Jamie McGeever Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Tyrone Siu, Dow Jones, Jamie McGeever, Josie Kao Organizations: REUTERS, PMI, National Bureau, Statistics, Japan's Nikkei, U.S ., Thomson, Reuters Locations: Exchange, Hong Kong, China, Japan, South Korea, Indonesia, Australia, India, Asia

☆ China factory activity shrinks for a second month in November
▼ + stars: | 2023-11-30 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

China's factory activity contracted for a second straight month in November, while non-manufacturing activity hit yet another new low for the year, signaling that the world's second-largest economy is not yet out of the woods and may require more muscular policy support. The official manufacturing purchasing managers' index unexpectedly fell slightly to 49.4 in November from 49.5 in October, according to data from the National Bureau of Statistics released Thursday. China's official manufacturing PMI also came in below forecast last month. The official non-manufacturing managers' index slipped to 50.2 in November from 50.6 in October, according to the same NBS release. A PMI reading above 50 indicates expansion in activity, while a reading below that level points to a contraction.

Organizations: National Bureau of Statistics, PMI

☆ China’s Manufacturing PMI Edged Lower, Signaling Continued Weakness
▼ + stars: | 2023-11-29 | by ( ) www.wsj.com time to read: 1 min

An employee works on solar photovoltaic modules at a factory in Haian in China’s eastern Jiangsu province. Photo: str/Agence France-Presse/Getty ImagesAn official gauge of China’s manufacturing activity indicated contraction for a second consecutive month in November, signaling continued weakness in the economy despite Beijing’s recent efforts to juice up growth amid a protracted housing slump. China’s official manufacturing purchasing managers’ index slipped to 49.4 in November from 49.5 in October, the National Bureau of Statistics said Thursday. A reading above 50 indicates an expansion in activity while a reading below it indicates contraction.

Organizations: Agence France, National Bureau of Statistics Locations: Haian, China’s, Jiangsu

Robotic arms assemble cars in the production line for Leapmotor's electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. China Daily via REUTERS/File Photo Acquire Licensing RightsBEIJING, Nov 29 (Reuters) - China's manufacturing activity likely contracted for a second consecutive month in November, a Reuters poll showed on Wednesday, keeping alive calls for further stimulus measures as factory owners struggle for orders both at home and abroad. A flurry of policy support measures has had only a modest effect, raising pressure on authorities to roll out more stimulus. The private Caixin factory survey will be issued on Friday, and analysts expect its reading to edge up to 49.8 from 49.5 in October. Reporting by Joe Cash; Polling by Susobhan Sarkar and Devayani Sathyan in Bangalore; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Cash, Susobhan Sarkar, Devayani, Kim Coghill Organizations: REUTERS, Rights, PMI, Thomson Locations: Jinhua, Zhejiang province, China, Rights BEIJING, Japan, Bangalore

The dollar index , which measures its value against six major currencies, fell as far as 102.89, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance since November 2022. The Conference Board said its consumer confidence index increased to 102.0 this month from a downwardly revised 99.1 in October. In other currencies, the euro rose to a 3-1/2-month peak of $1.0985 . The dollar fell 0.2% to 148.33 yen , with the Japanese currency continuing its recovery from the brink of 152 per dollar earlier in the month.

Persons: Dado Ruvic, Sterling, Karl Schamotta, underscoring, Gertrude Chavez, Dreyfuss, Alun John, Brigid Riley, Ed Osmond, Mark Potter, Kevin Liffey Organizations: REUTERS, U.S, Federal Reserve, Board, Federal Housing Finance Agency, Traders, Australian, New Zealand, Reserve Bank of New, Thomson Locations: Swiss, U.S, Toronto, OPEC, Reserve Bank of New Zealand, New York, London, Tokyo

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTOKYO/LONDON, Nov 28 (Reuters) - The U.S. dollar hit a three-month low against a basket of peers on Tuesday before steadying, as traders continued to unwind long dollar positions before this week's U.S. and euro zone inflation data. The dollar index , a measure of the greenback against six major currencies, was last at 103.17, a whisker above the 103.07 it touched in Asia trade, the lowest since Aug. 31. The index is on track for a loss of more than 3% in November, its worst performance in a year. The Japanese yen was a touch firmer at 148.45 per dollar , continuing its recovery from the brink of 152 per dollar earlier in the month as the dollar weakened. The Swiss franc was at 0.8810 per dollar, steady on the day, also around its firmest since the start of September, and the Australian dollar briefly touched a near four-month high of $0.6632.

Persons: Dado Ruvic, Simon Harvey, Brigid Riley, Alun John, Ed Osmond, Mark Potter Organizations: REUTERS, Rights, U.S, greenback . U.S, Fed, Reuters, Swiss, Australian, Reserve Bank of New, Thomson Locations: LONDON, steadying, U.S, Asia, OPEC, Reserve Bank of New Zealand

☆ China's Nov Factory Activity Likely Contracted for Second Month
▼ + stars: | 2023-11-28 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +2 min

By Joe CashBEIJING (Reuters) - China's manufacturing activity likely contracted for a second consecutive month in November, a Reuters poll showed on Wednesday, keeping alive calls for further stimulus measures as factory owners struggle for orders both at home and abroad. A flurry of policy support measures has had only a modest effect, raising pressure on authorities to roll out more stimulus. Profit growth at China's industrial firms shrank back to the low single digits last month, following an 11.9% increase in September and a 17.2% gain in August, which analysts attributed to volatile input costs. Both new export and import orders shrank in October. (Reporting by Joe Cash; Polling by Susobhan Sarkar and Devayani Sathyan in Bangalore; Editing by Kim Coghill)

Persons: Joe Cash, Susobhan Sarkar, Devayani, Kim Coghill Organizations: Joe Cash BEIJING Locations: China, Japan, Bangalore

The dollar index , which measures the currency against six major peers, slipped 0.1% to 103.37 and was headed for a monthly loss of more than 3%, its worst performance since November 2022. The market is also eyeing a rate decision from the Reserve Bank of New Zealand and Chinese purchasing managers' index (PMI) data. In other currencies, the euro was little changed against the dollar at $1.0937 . Against the yen, the dollar fell 0.4% to 148.885 yen . The dollar extended losses after data showed U.S. new home sales fell more than expected in October, dropping 5.6% to a seasonally-adjusted annual rate of 679,000 units.

Persons: ECB's Lagarde, Helen, Christine Lagarde's, Gertrude Chavez, Dreyfuss, Samuel Indyk, Rae Wee, Toby Chopra, Mark Potter, Paul Simao Organizations: U.S, Federal Reserve, Monex USA, Fed, European Central Bank, Bank of England, Reserve Bank of New, Australian, greenback, New, Thomson Locations: U.S, Washington, OPEC, Australia, Reserve Bank of New Zealand, New Zealand, China, New York, London, Singapore

☆ Sterling rises, dollar listless as markets brace for post-Thanksgiving buzz
▼ + stars: | 2023-11-27 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The pound was on track for a roughly 3.8% gain for the month, its largest monthly gain in a year. Elsewhere, the dollar fell 0.32% to 148.97 yen , while the euro gained 0.2% to $1.0952. The dollar index slipped 0.12% to 103.31 and was headed for a monthly loss of more than 3%, its worst performance in a year. In China, the yuan slipped after the official midpoint snapped five straight sessions of strengthening, with the onshore yuan last at 7.1550 per dollar. Reporting by Rae Wee; Editing by Gerry Doyle and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.

Persons: Sterling, Carol Kong, Jane Foley, Rae Wee, Gerry Doyle, Christopher Cushing Organizations: Federal, Reserve Bank of New, PMI, Bank of England, Commonwealth Bank of Australia, Traders, Rabobank, ", Fed, New, Thomson Locations: SINGAPORE, OPEC, Australia, Reserve Bank of New Zealand, New Zealand, China, Beijing

☆ Formerly Philip Morris-backed foundation severs ties with nicotine industry
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

LONDON, Nov 27 (Reuters) - A research foundation originally set up by Philip Morris International (PMI) (PM.N) will no longer accept any funding from the nicotine industry as it seeks to win credibility with tobacco control advocates, its CEO said. The foundation will now rebrand and find new funders from outside of the industry, Cliff Douglas said in an interview. Douglas, a long-time tobacco control advocate who joined the foundation in October, said he wants to see it re-established as a credible actor in ending smoking. Douglas pointed to a number of tobacco control advocates who have sounded positive about the foundation's new direction. The World Health Organisation says vapes, for example, are harmful to health.

Persons: Philip Morris, Cliff Douglas, Douglas, Deborah Arnott, Yolonda Richardson, Emma Rumney, Kirsten Donovan Organizations: Philip Morris International, PMI, Campaign, Tobacco, World Health, Thomson

☆ Morning Bid: Markets turn risk-averse after bumper month
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Staff Acquire Licensing RightsA look at the day ahead in European and global markets from Wayne Cole. Most regional share markets are modestly lower, as are Wall Street and European futures. Data on EU inflation is also due Thursday, along with measures for Germany and Spain. Core EU inflation is forecast at 3.9%, the lowest since the middle of last year. If realised, this will support market wagers of no more rate hikes, and policy easing in 2024.

Persons: Wayne Cole, Asia, hasn't, Brent, Jerome Powell, Christine Lagarde, Edmund Klamann Organizations: REUTERS, Staff, Treasury, China PMI, Japan's Nikkei, Federal, Core, Fed, ECB, European Central Bank, EU, Economic, Monetary Affairs, Parliament, CBI, Thomson Locations: Frankfurt, Germany, Wayne, China, Saudi Arabia, Spain

☆ Sterling steady, dollar wobbles as markets brace for post-Thanksgiving buzz
▼ + stars: | 2023-11-27 | by ( ) www.cnbc.com time to read: +4 min

In this photo illustration, a old British £1 note is pictured with a one Dollar bill note on November 05, 2023 in Bath, England. The Australian dollar likewise stood near a roughly three-month high and last bought $0.6578, ahead of domestic inflation data on Wednesday. The weakening greenback provided some respite for the Japanese yen , which sat on the stronger side of 150 per dollar and last stood at 149.52 per dollar. The New Zealand dollar eased 0.1% to $0.6076, but was likewise hovering near Friday's more than three-month high of $0.6096. "I think the issues in the Middle East have definitely become more of a background risk," said CBA's Kong.

Persons: Sterling, Carol Kong, Jane Foley, CBA's Organizations: Federal, Reserve Bank of New, PMI, Bank of England, Commonwealth Bank of Australia, U.S ., U.S, Rabobank, Fed, New Zealand, Israel Locations: Bath, England, OPEC, Australia, Reserve Bank of New Zealand, Friday's, U.S, East, Gaza

A screen showing the Hang Seng stock index is seen outside Exchange Square, in Hong Kong, China, August 18, 2023. The VIX index of S&P 500 implied volatility - the so-called Wall Street 'fear index' - closed at 12.46 on Friday, its lowest close since January 2020. Three central banks in the Asia & Pacific region hold policy meetings this week. Like Bank Indonesia last week, the central banks of New Zealand, South Korea and Thailand are all expected to leave key rates unchanged. But, broadly speaking, no further tightening from the Fed gives central banks in Asia a bit more breathing room.

Persons: Tyrone Siu, Jamie McGeever, Diane Craft Organizations: REUTERS, People's Bank of, MSCI's, Emerging, Bank Indonesia, U.S . Federal, Fed, PPI, U.S, Treasury, Thomson, Reuters Locations: Exchange, Hong Kong, China, Israel, New Zealand, South Korea, Thailand, Australia, India, Japan, People's Bank of China, MSCI's Asia, Asia

☆ Take Five: Warming up this winter
▼ + stars: | 2023-11-24 | by ( ) www.reuters.com time to read: +6 min

1\BUCK UP, IT'S DECEMBERThe dollar is heading for its weakest monthly performance for a year, with a loss so far of 2.7%. On Thursday, China releases official manufacturing PMI data, which last month showed an unexpected contraction, killing momentum for an economic recovery. COP28 gets underway in Dubai and securing an agreement on how to tackle global warming and, crucially, how to pay for it looks as difficult as ever for the near 200 countries and institutions attending. Reuters Graphics5\THE ECB'S BALANCING ACTEuro zone inflation data on Nov. 30 may well confirm a trend of price rises moderating. Policymakers remain wary of any hopes for rate cuts spilling over into increased bank lending and household spending, renewing inflationary pressures.

Persons: Lewis Krauskopf, Kevin Buckland, Naomi Rovnick, Marc Jones, Amanda Cooper, it's, Joshua Roberts, Sultan Ahmed Al Jaber, Christine Lagarde, Pasit Kongkunakornkul, Sumanta Sen, Kripa Jayaram, Vineet Sachdev, Prinz, Toby Chopra Organizations: BUCK, IT'S, Federal Reserve, Reuters, REUTERS, COP28, World Bank, European Central Bank, Thomson Locations: China, Dubai, Lewis, New York, Tokyo, London, Washington , U.S, UAE

☆ Wall St ends mixed in truncated Black Friday trading
▼ + stars: | 2023-11-24 | by ( Stephen Culp | ) www.reuters.com time to read: +4 min

The S&P 500 (.SPX) closed nominally higher, while the Dow (.DJI) eked out a modest gain. Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. Of the 11 major sectors in the S&P 500, nine ended with gains, led by healthcare (.SPXHC). The S&P 500 posted 23 new 52-week highs and no new lows; the Nasdaq Composite recorded 77 new highs and 51 new lows. Volume on U.S. exchanges was 4.97 billion shares, compared with the 10.49 billion average for the full session over the last 20 trading days.

Persons: Peter Cardillo, Cardillo, Brendan McDermid, decliners, Stephen Culp, Sruthi Shankar, Shristi, Richard Chang Organizations: Nvidia, Vista Outdoor, Colt, Dow, Nasdaq, Spartan Capital Securities, Retailers, U.S, Insider Intelligence, Commerce, New York Stock Exchange, REUTERS, PMI, Dow Jones, Communication, Reuters, Czech, Xpeng, Volkswagen, NYSE, Thomson Locations: China, New York, U.S, New York City, Bengaluru

☆ Dollar slips on bets US rates have peaked
▼ + stars: | 2023-11-24 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +4 min

A woman counts U.S. dollar bills at her home in Buenos Aires, Argentina August 28, 2018. Currencies traded in a relatively narrow range with U.S. markets closing early the day after the U.S. Thanksgiving holiday. "I think what we're seeing is a classic case of the market taking the 'path of least resistance.'" The dollar index , which measures the U.S. currency with six peers, eased 0.4 % to 103.35 , staying close to the 2-1/2 month low of 103.17 touched earlier this week. German business morale improved for a third straight month in November, data showed.

Persons: Marcos Brindicci, Michael Brown, Jane Foley, Sterling, Saqib Iqbal Ahmed, Ankur Banerjee, Joice Alves, David Evans, Jason Neely, Richard Chang Organizations: REUTERS, U.S, Trader, P Global, Rabobank, Federal, ING, Thomson Locations: Buenos Aires, Argentina, London, Germany, Singapore

Oil futures traded steady ahead of next week's OPEC+ meeting, which could bring some kind of agreement on output cuts in 2024. Gold futures finished higher as the dollar index slipped against a basket of currencies on Friday. Germany's 10-year government bond yield , the benchmark for the euro area, rose 3 basis points to a 1-1/2-week high. Oil prices were steady after tumbling more than 1% on concerns over a delayed OPEC+ meeting. ($1 = 7.2111 Chinese yuan renminbi)Reporting by Chris Prentice in New York, Naomi Rovnick in London and Stella Qiu in Sydney.

Persons: Caitlin Ochs, Germany's DAX, Peter Doherty, Arbuthnot Latham, Robert Holzmann, Pierre Wunsch, Chris Prentice, Naomi Rovnick, Stella Qiu, Toby Chopra, Susan Fenton, Mark Potter, Deepa Babington Organizations: New York Stock Exchange, REUTERS, U.S, Dow Jones, Nasdaq, Hamas, P Global, European Central Bank, ECB, Bank of England, Japan's Nikkei, China's CSI, Brent, Thomson Locations: New York City, U.S, OPEC, Germany, Israel, London, Belgian, Asia, New York, Sydney

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