With Singapore relaxing most of its COVID-19 local and travel restrictions since early April this year, banks are benefiting from the rebound in economic recovery of the Asian financial hub.
Singapore's second-largest lender Oversea-Chinese Banking Corp Ltd $OCBC Bank (O39.SG)$ reported a stronger-than-expected 28% jump in quarterly profit and gave a robust outlook as rising interest rates pushed up its net interest margins.
Let’s dive in to look at ...

By Danilo
Hey, mooers! Here are things you need to know before the opening bell:
- U.S. stock futures were higher in early morning trading on Wednesday, following a Tuesday sell-off on Wall Street over fears about the new Omicron covid variant and the Federal Reserve mulling a quicker-than-planned taper.
- David Marcus, head of Meta's cryptocurrency project, says he plans to leave at year's end to pursue entrepreneurial projects outside the company.
Market Snapshot
U.S. stock futures were higher in early morning trading on Wednesday, following a Tuesday sell-off on Wall Street over fears about the new Omicron covid variant and the Federal Reserve mulling a quicker-than-planned taper.
$Dow Jones Industrial Average (.DJI.US)$ futures rose 302 points. $S&P 500 Index (.SPX.US)$ futures gained 1.18% and $NASDAQ 100 Index (.NDX.US)$ futures rose 1.35%.
Market Temperature
Read more: Market Temperature (12/1)
Top News
Stock futures gain as inflation, Omicron fears persist
U.S. stock futures advanced, suggesting Wall Street indexes would extend their volatile trading amid anxiety around the Omicron variant and persistent inflation. Brent crude prices gained.
OPEC+ at crossroads as oil prices drop
Major oil producers face a difficult decision on production levels when they meet this week, as a recovery in energy demand hit a setback with the discovery of the Omicron variant of the coronavirus.
White House considers Cordray as top Fed banking regulator
Ohio attorney Richard Cordray served as the first confirmed director of the Consumer Financial Protection Bureau.
Powell lays groundwork for faster end to stimulus as inflation outlook worsens
The Fed chairman hints at a pivot in weighing inflation and unemployment risks amid renewed coronavirus threat
Microsoft shareholders force company to disclose sexual harassment data
The tech giant $Microsoft (MSFT.US)$ had recommended a vote against the disclosure proposal, which was approved at the company's annual meeting.
Twitter bans sharing of private people's photos, videos without consent
The social-media company $Twitter (Delisted) (TWTR.US)$ said users will no longer be able to share private media, such as photos and videos, of another person without their permission, a move aimed at improving privacy and security.
David Marcus, head of Meta's cryptocurrency project, steps down
The executive says he plans to leave at year's end to pursue entrepreneurial projects outside the company. $Meta Platforms (FB.US)$
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Lucid stock is more than fully priced, but it has a beautiful car
How do you pronounce 'Omicron'?
Key Events This Week
Source: CNBC, Dow Jones Newswires, Bloomberg

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