1) Traders focus upcoming September payroll
Investors are focusing on September payroll which will be announced this Friday after a disappointing gain of 235,000 jobs, compared to 700,000 expected. Economists estimated September to add 475,000 payrolls and a decline in unemployment rate to 5.1%, which will be the lowest level since March 2020.
2) Tesla 3Q delivery beat expectations
Tesla delivered 241,300 vehicles in 3Q21, beating expectations of 220,900 deliveries and 201,250 vehicles delivered last in the previous quarter. The sales of Tesla were better than its competitors such as General Motors that reported a plummet in sales last week.
3) Eyes on OPEC+ meeting of increasing more output
Oil prices dropped slightly in the morning session of the Asian markets prior to the OPEC+ meeting on Monday, but still maintained at a high level. Brent crude traded at $79.04 per barrel, fell $0.24 or 0.30%, while WTI decreased $0.26 or 0.34% to $75.62 per barrel.
In the meeting on Monday, OPEC+ could possibly vote to ramp up their oil production by more than 400,000 barrels per day, according to the source.
4) Hong Kong halts China Evergrande trading
The trading of China Evergrande was suspended on Monday morning in Hong Kong Exchange after some bondholders said the heavily indebted second-largest property company in China failed on second key bond interest payment.