IMF hikes U.S. FY outlook

The IMF hikes its U.S. forecast for 2024 but Germany weighs on the European outlook. The IMF’s Director of the Monetary and Capital Markets department, Tobias Adrian tells CNBC there are reasons for optimism. The S&P 500 suffers its first back-to-back session loss since September as investor attention turns to the dollar. Markets are now increasingly pricing in the outcome of a Trump victory in the U.S. election next month. Speaking to CNBC, IIF CEO Tim Adams believes the fight against inflation could be compromised as a result. French cosmetics giant L’Oréal misses Q3 sales targets as consumer demand in China wanes but the company pins its hopes on the market and on further stimulus from Beijing. Asian markets warmly welcome new listings Tokyo Metro – Japan’s largest in 6 years, while China Resources Beverages also gains on its debut in Hong Kong. And in banking news, Deutsche Bank notches a €2.3bn Q3 profit beat, thanks partly to the release of Postbank-related litigation provisions.

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