1. Wall Street opened higher on Wednesday after China's finance ministry said the government will strengthen fiscal policy, boost infrastructure spending and speed up tax reforms.
2. Gold futures fell to the lowest level in more than three weeks on Wednesday, as a broadly stronger U.S. dollar and rallying global equity markets reduced the appeal of the precious metal.
3. The dollar pushed higher against against the other major currencies on Wednesday, amid hopes for fresh easing measures by the Bank of China. The dollar was higher against the yen, with USD/JPY up 0.92% at 120.91.
4. Global shares surged on Wednesday, led by the biggest daily gains in Japan for seven years, helping lift the dollar and oil prices as the prospect of more stimulus from China soothed investors rattled by recent market turmoil. The charge into stocks pushed yields on low-risk government bonds higher, with the rise exacerbated by the anticipation of auctions of German and U.S. 10-year debt later in the day.
5. Lockheed Martin Corp (NYSE:LMT), the maker of F-35 fighter jets, said it would cut about 500 jobs in its IT services unit by mid-November. Lockheed said the job cuts were unrelated to the strategic review the company announced in July for its government IT and technical services businesses.
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