Kaohoon Morning Brief – 8 October 2021
Morning brief of major stories since the closing of Thai stock market on 8 October 2021.
1) Senate approved temporary bill to raise debt limit until Dec. 3
The Senate approved a temporary bill to raise the debt ceiling by $480 billion until December 3, 2021, to avoid a default in the upcoming week. 11 Republicans joined all 50 Democrats in the much needed vote to get the 60 minimum.
2) U.S. jobless claims decline, investors monitor Sep. job report
The Department of Labor reported Thursday that jobless claims for the prior week totaled 326,000. The figure was lower than the 345,000 forecast by economists. Meanwhile, investors are looking ahead to the September jobs report, expecting to be announced on Friday.
3) China’s Sep. services activity returned to positive
China’s Caixin/Markit services Purchasing Managers’ Index (PMI) in September rose to 53.4 from 46.7 in August as the services industry returned to activity growth while the major COVID-19 outbreak in the eastern province of Jiangsu cooled down.
4) Samsung says 3Q profit to reach 3-year high
Samsung Electronics Co. Ltd. said on Friday that its third-quarter operating profit is likely to increase by 28% to the highest level in three years. The gain will be driven by rising memory chip prices and display sales for its new flagship launches.