Welcome to Markets Desk, your midday read on what's moving.
Cocoa is extending its rally for a third straight session, with December New York futures closing up nearly three quarters of a percent after fresh data confirmed tighter shipments out of the Ivory Coast. Smaller deliveries from the world's top producer continue to tighten the supply picture, giving bulls room to run.
Shifting to the geopolitical front, a Houthi attack on a Saudi Arabian airport has left one person dead and eight injured, and the United States has ordered the departure of some personnel from the kingdom. Asian currencies are consolidating against the dollar as traders watch Middle East developments closely, with risk appetite staying cautious across the region.
Closer to home in the retail space, Kohl's and Target are both fighting for early holiday dollars after Amazon's Prime Big Deal Days pulled competitors like Walmart and Best Buy into the ring. Kohl's, a name investors had largely written off after a year of shrinking guidance, managed to offer something traders weren't expecting — a reason to pay attention again heading into the fourth quarter.
That's the tape. Markets Desk, signing off the floor.
