HAPPY FRIDAY ALL!

- IRANIAN FOREIGN MINISTER ARAGHCHI SAID IRAN PRESENTED A PROPOSAL TO THE US THROUGH MEDIATORS THIS WEEK TO REOPEN THE STRAIT OF HORMUZ AND RESTART NEGOTIATIONS TOWARDS A FINAL DEAL.

- CHINESE PRESIDENT XI URGED THE US AND IRAN TO RETURN TO RESOLVING ISSUES THROUGH NEGOTIATION AS SOON AS POSSIBLE, ACCORDING TO XINHUA.

- CHINESE PRESIDENT XI SAID CHINA AND THE US REACHED A COMMON UNDERSTANDING ON MANY ISSUES.

- CRUDE FUTURES PULLED BACK OVERNIGHT AFTER THE PRIOR DAY'S ADVANCES, WITH THE REVERSAL SEEN FOLLOWING REPORTS THAT THE US AND IRAN DISCUSSED A PHASED DEAL TO REOPEN THE STRAIT OF HORMUZ.

- APAC STOCKS WERE ULTIMATELY MIXED FOLLOWING THE INCONCLUSIVE HANDOVER FROM THE US; EUROPEAN EQUITY FUTURES INDICATE A POSITIVE CASH MARKET OPEN.

- LOOKING AHEAD, HIGHLIGHTS INCLUDE GERMAN GFK CONSUMER CONFIDENCE (OCT), US DURABLE GOODS ORDERS (AUG), ATLANTA FED GDP (Q3). SPEAKERS INCLUDE FED'S WILLIAMS, HAMMACK & SCHMID, ECB'S VUJCIC, BOE GOVERNOR BAILEY. CREDIT RATINGS, INCLUDING MOODY'S ON THE EU & ITALY, AND SCOPE RATINGS ON THE EU. ...