Markets Overview
- ASX SPI 200 futures up 0.1% to 7,357.00
- Dow Average up 0.2% to 35,895.00
- Aussie little changed at 0.7518 per US$
- U.S. 10-year yield little changed at 1.5627%
- Australia 3-year bond yield fell 22bps to 1.01%
- Australia 10-year bond yield fell 18bps to 1.91%
- Gold spot up 0.5% to $1,792.40
- Brent futures up 0.9% to $84.50/bbl
Economic Events
- 9:30am: (AU) Oct. ANZ Roy Morgan Weekly Consumer, prior 106.8
- 2:30pm: (AU) Nov. RBA 3-Yr Yield Target, est. 0.10%, prior 0.10%
- 2:30pm: (AU) Nov. RBA Cash Rate Target, est. 0.10%, prior 0.10%
- 4:50pm: (AU) RBA’s Debelle Participates in Panel Online
Stocks advanced to another record as solid corporate earnings overshadowed a disappointing manufacturing report.
The S&P 500 rebounded from earlier losses, led by gains in energy and consumer-discretionary firms. The Dow Jones Industrial Averagetouched the 36,000 level for the first time. A gauge of small capsjumped 2.7%. Electric-vehicle giant Tesla Inc. surged amid a lithium supply deal and the start of the COP26 climate summit. In late trading, Clorox Co. climbed after the maker of cleaning products posted better-than-expected sales.
More than 80% of companies in the S&P 500 reporting third-quarter results have topped Wall Street estimates. That has laid the groundwork for a rally in stocks since the earnings season began. Meanwhile, data showed supply-chain challenges weighed on manufacturers in October. Fed officials meet this week as investors fret the economy is facing the most-widespread supply crunch since the oil crisis of 1973.
Other News
A woman has taken to Twitter to share an alternative method to try and help improve her stomach issues – in the form of “23 pills” made of someone else’s poop.
With help from an evolutionary psychologist and Associate Research Professor at the University of New Mexico, Diana Fleischman, Aella (@Aella_girl) shared her experience with 88,000 Twitter followers.
Her goal is to relieve her persistent stomach issues, which she suspects to be microbiome, in addition to “really bad IBS.” She explained how a donor “was also kind enough to poop into a blender” and allowed her to use it as part of a “DIY fecal transplant.”
The feces are then encased into an ingestible pill for the client to take. “The idea behind the transplant is that the healthy donor feces can restore “good” bacteria levels in the gut,” according to Live Science.
While Aella stated that there are currently “no negative side effects” from taking the pills, she guesses that the potential benefits could take around “48 hours to 3 months” to take effect.
In a grossly explicit reference to how easy a DIY fecal transplant can be, Michael Silverman, MD, chair of the infectious diseases division at the Schulich School of Medicine at Western University in Toronto, told WebMD: “If you’ve ever made a milkshake, you can do it.” While there is not yet FDA approval for fecal transplants, the FDA will allow FMT to be used in recurrent cases of C Diff that are unresponsive to regular therapies (antibiotics). Fecal Microbiota Transplantation (FMT) will require more research to become a widely-available treatment.
