Global Markets –Global stocks increased after the Federal Reserve revealed most officials expected to slow the pace of interest rate increases. Japan’s Nikkei 225 climbed 1% and Hong Kong’s Hang Seng added 0.8%. In afternoon trading in Europe, the Stoxx Europe 600 rose 0.5%.
Credit Suisse – Credit Suisse warns of a $1.6 billion dollar loss as wealthy clients withdraw funds leading to a large drop in liquidity and potentially breaching regulatory limits. The stock is down about 58% this year.
Berkshire Hathaway – Warren Buffett’s Berkshire Hathaway has spent about $9 billion investing in stocks in third quarter with roughly a third of that going towards energy companies such as Occidental Petroleum and Chevron Corp.
AUD – The Australian dollar has strengthened this week with the minutes from the US Federal Reserve meeting revealing interest rates may not increase as much as expected. The AUD is currently at 0.68 cents versus the USD with the dollar currently at its highest in more than 2 months.
US Economy – U.S. Supplier Price Increases eased in October, rising 8% and although still high, Indications are that it is easing with supplier price rises down from the 11.7 % increase in March.
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