Global Markets:
● Asian Stock Markets : Nikkei down 0.02%, Shanghai Composite down 0.12% Hang Seng up 0.15% ASX up 0.84%
● Commodities : Gold at $4,227.90 (0.27%) Silver at $61.335 (0.49%), Brent Oil at 103.28 (-1.38), WTI Oil at 90.40 (-1.60%)
● Rates : US 10-year yield at 5.223, UK 10-year yield at 5.4457, Germany 10-year yield at 3.4860
News & Data:
● (CAD) Employment Change 68.3K to 6.1K expected
● (USD) Prelim UoM Consumer Sentiment 46.3 to 47.5 expected
Markets Update:
U.S. stock futures were little changed on Sunday night as investors prepared for a busy week of corporate earnings reports and inflation data, following gains across major indexes last week.
S&P 500 futures rose 0.12%, while Nasdaq 100 futures gained 0.24%. Dow Jones Industrial Average futures added 28 points, or 0.05%.
Wall Street ended the previous week higher, supported by a technology stock rally that helped offset rising oil prices and bond yields. The Dow and S&P 500 recorded their second weekly gains in three weeks, while the Nasdaq Composite extended its winning streak to four weeks.
Asian markets opened mixed on Monday. South Korea’s Kospi fell 1.34%, while Australia’s S&P/ASX 200 advanced 0.61%. Japanese markets were closed for a holiday.
Geopolitical tensions remained in focus after President Donald Trump said he was considering joining Saudi Arabia’s fight against Iran-backed Houthis in Yemen. Meanwhile, oil prices declined in Asian trading amid optimism surrounding an energy ceasefire between Russia and Ukraine.
Investors are looking to third-quarter earnings to support equities amid uncertainty over the Middle East conflict and elevated borrowing costs. FactSet estimates that S&P 500 earnings will grow 29.6%, marking a fourth consecutive quarter of growth exceeding 25%, driven largely by artificial intelligence infrastructure spending.
Major banks, including JPMorgan Chase, Goldman Sachs and Bank of America, are scheduled to report results this week. Investors will also monitor September consumer and producer price indexes, due Wednesday and Thursday, respectively.
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