- U.S. employment fell by 39,000 after a revised gain of 10,000 in August. Even if U.S. economy manages to grow, it will be too slow to provide enough jobs needed and high unemployment rate will be a new normal for Americans, said Nobel laureate Joseph Stiglitz on Wednesday.
- MoM Germany's factory orders rose 3.4% in August
- GE agreed to buy oil-field equipment maker Dresser Inc. for $3 billion.
- South Korea and the European Union sealed a bilateral free trade agreement
- The IMF upwardly revised its projection of world output growth to 4.8% this year mainly because of faster growth driven by emerging and developing economies, but warned that downside risks remain elevated.
- YoY sales of new imported vehicles in Japan, including Japanese brands manufactured abroad, jumped 34.7% in the April-September period.
- The Singapore PMI remained on contraction mode with a reading of 49.5 last month, though it did rise a mere 0.1 point over August, local daily The Straits Times reported.
- The U.S. DOE said:
Crude oil stocks rose 3.1 million barrels
Gasoline stocks fell by 2.6 million barrels
Distillate stocks fell by 1.1 million
Australia created a net 49,500 new jobs in September, more than twice the market forecast. The unemployment rate held steady at 5.1 percent.
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