Market Bizzz

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7% to the highest since early September and was up 2.5% for the week. Japan’s Nikkei jumped 1.2%, also heading for a weekly gain of 2.5%.

Fed officials estimated 75 basis points (bps) of rate cuts in 2024, with 2.4% inflation at the end of next year. Markets are now pricing in around a 75% chance of a rate cut in March, according to CME FedWatch tool.

That has resulted in the greenback sliding broadly against rivals, with the dollar index at 102.05, not far from the four-month low of 101.76 it touched on Thursday. The index is down 1.9% and on course for its steepest weekly decline since July.

The purchases bring Berkshire’s stake in Occidental to about 27%. The company also holds preferred shares and warrants to acquire another 83.8 million Occidental shares for $4.7 billion, or $56.62 apiece.

“Some customers have seen inaccuracies and delays in the delivery of execution reports. We are working to reach a prompt resolution to deliver the correct execution reports. FIX/RASH was closed down for the rest of the day. The closing cross was completed and all other markets are operating normally,” the exchange operator said in a statement.