Five Things You Need to Know to Start Your Day

Get caught up on what's moving markets.
UNSC Increases Sanctions on N. Korea

Want to receive this post in your inbox every morning? Sign up here

U.K. inflation rises, the UN agrees new North Korea sanctions, and Apple has a new productHere are some of the things people in markets are talking about today.

U.K. inflation, Brexit vote

Inflation accelerated to 2.9 percent in August, more than economists had expected, with clothing prices posting their biggest surge in almost three decades. Core inflation also rose, adding to the policy headache facing the Bank of England ahead of Thursday’s monetary policy meeting. The U.K. parliament voted 326 to 290 to let the prime minister’s Brexit law advance, meaning the government’s strategy for leaving the European Union remains on track. 

Sanctions

The United Nations Security Council approved new sanctions on North Korea after the U.S. dropped demands to impose an oil embargo on the country in order to win support from China and Russia. The measures include reducing gasoline and diesel imports to the country by 56 percent and capping oil supply at current levels, while banning textile exports. The Pyongyang regime, which South Korea says remains ready to test anther nuclear device, has yet to respond to the measure.

Apple phones

Apple Inc. is holding a product event this evening at which it’s expected to launch three new iPhones, including the premium, $1,000-plus iPhone X. While the iconic product changed the phone market when it was first released some 10 years ago, it has lost its lead on technology to competitors. 

Markets rally

Yesterday’s record-high close in U.S. stocks helped lift equities across the globe. Overnight, the MSCI Asia Pacific Index gained 0.3 percent, while Japan’s Topix index added 0.9 percent as the yen weakened further against the dollar. In Europe, the Stoxx 600 Index was 0.5 percent higher at 5:45 a.m Eastern Time, while S&P 500 futures climbed 0.1 percent. 10-year Treasury yields were at 2.151 percent and gold was lower.

Oil supply 

OPEC’s estimate of its oil production is expected to show a decline in August from the previous month after Saudi Arabia pared output, according to a person familiar with the matter. West Texas Intermediate for October delivery was at $47.84 a barrel as of 5:45 a.m. as refiners in the U.S. continue to come back online after the damage suffered from Hurricane Harvey. 

What we've been reading

This is what's caught our eye over the last 24 hours.

    Before it's here, it's on the Bloomberg Terminal.
    LEARN MORE