06:39 AM EDT, 10/04/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Friday highlighted:

Markets: United States Treasuries close at the lows, stabilize in Asia. Asian stocks are mixed, e-minis are little changed, Nikkei rallies. The euro rangebound, yen recovers. Brent surged to $78/barrel after Thursday's talks of Israel retaliating against Iran's oil facilities, then consolidates.

Fed: Federal Reserve Bank of Chicago President Austan Goolsbee says rates need to come down over the next 12 months "by a lot." Fed's paper losses to the Treasury have reached $201.2bn.

US: Dockworkers agree to suspend the strike until Jan. 15, work will resume on Friday, as the labor union accepted the offer that increases wages by 61.5% over a new six-year contract.

Middle East: Israel targets Hezbollah's next leader in strike on Beirut. G7 discussed coordinated efforts and actions to avoid escalation in the area (statement).

== EUROPE:

France: Prime Minister Michel Barnier is "not happy" about tax hikes but doesn't want to be "irresponsible." The increase will be temporary, for one to two years and hit about 300 companies with a minimum of one billion euros in annual revenue.

Italy: Giancarlo Giorgetti seeks to raise more windfall taxes from companies, says "there will be a general call for everyone to contribute, not just banks."

Trade: Germany will vote against European Union tariffs on Chinese Electric vehicles on Froday, Spain calls for a negotiated outcome with China (Reuters).

== ASIA:

Japan: Prime Minister Shigeru Ishiba instructed the cabinet to draw up new economic measures and extra budget and he seeks to show he isn't pressuring the Bank of Japan.