Global Markets:
● Asian Stock Markets : Nikkei up 0.32%, Shanghai Composite up 1.16% Hang Seng up 0.62% ASX down 0.57%
● Commodities : Gold at $3,917.95 (0.48%) Silver at $50.165 (-1.80%), Brent Oil at 109.71 (-3.28%), WTI Oil at 100.61 (-3.38%)
● Rates : US 10-year yield at 4.917, UK 10-year yield at 5.2910, Germany 10-year yield at 3.3185
News & Data:
● (USD) Employment Cost Index q/q 0.8% to 0.8% expected
Markets Update:
U.S. stock futures edged higher on Sunday as investors prepared for a busy week featuring major corporate earnings, employment data and the upcoming midterm elections.
S&P 500 futures rose 0.3%, while Nasdaq-100 futures gained 0.4%. Dow Jones Industrial Average futures advanced 116 points, or 0.2%.
The gains followed a losing week on Wall Street, driven by renewed selling pressure in technology stocks as investors reassessed artificial intelligence spending prospects. The S&P 500 and Dow declined less than 1% for the week, while the Nasdaq Composite dropped 2%.
Asian markets delivered mixed performances. Hong Kong’s Hang Seng Index climbed 1.01%, while South Korea’s Kospi advanced 0.69%. Japan’s Nikkei 225 slipped 0.13%, and Australia’s S&P/ASX 200 fell 0.46%.
Technology stocks initially gained momentum after Anthropic publicly filed for an initial public offering. However, concerns resurfaced after Alphabet and Microsoft issued lower-than-expected capital expenditure forecasts, while Amazon maintained its full-year spending guidance.
Despite the pullback, some analysts remain optimistic about AI-related investments, citing improving earnings estimates and continued growth opportunities.
Investors are also watching Tuesday’s U.S. midterm elections, where Democrats are expected to gain control of the House of Representatives, while Senate control remains uncertain.
Economic data will also take centre stage, with October’s nonfarm payrolls report due Friday. Economists expect the economy to add 55,000 jobs.
Among major corporate reports, Apple is scheduled to release earnings Monday, followed by McDonald’s and Qualcomm later in the week.
Upcoming Events:
● 3:00 PM GMT – USD ISM Manufacturing PMI
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