META : big numbers, mostly expected/priced in..(valuations..), slight negative '“the revenue outlook (particularly ads..) is uncertain” said the Chief Financial Officer Susan Li''' , and trading 3% lower after hours, dragging NASDAQ100 further down (watch out 14K-chart) and SPX00 trades well below 200dma now, bond disease spreading to large caps (lots of sectors underneath already weakened on higher for longer and bond moves..)
Israel ‘preparing ground invasion’ of Gaza, says Netanyahu
Mike Johnson was elected US House speaker after more than three weeks of Republican infighting - few bits below
Europe’s Money Markets are on alert for stricter ECB Bank reserve rules, the so-called Minimum Reserve Requirements. European Central Bank meets as bond markets wobble and economy turns south
US new-home sales for Sep 0.759M vs 0.680M est, much stronger
Glencore : We’re one of the world’s largest recyclers of end of- life electronics and a major recycler of complex secondary copper, nickel, cobalt, gold, silver, platinum and palladium bearing feeds
Bank of Canada decision: Rates held unchanged at 5.00%, as expected
Porsche confirms outlook but warns luxury not immune to economic woes
UAW, GM : ''record profits mean record contracts'' >>>which is fair enough, however shareholders less happy (chart below)
Apple raises prices for Arcade gaming subscription service, AppleTV+ streaming
Rabobank: "there is really so much that can go wrong when several powerful states are playing chess against each other on three different chess boards around the globe"
Japan PM Kishida: FX intervention not a contradiction of policy >>> markets testing them!
Markets :
Bond weakness comes back very easily - 10's UST back to 5, duration, term and quite possibly credit now.. >>> bond weakness forcing unwinding in eq 'safe haven', big Techs, magnificent 7's etc..dragging indices down/through support
USDollar remain firm(er), CABLE trending lower still (chart) - only one example
SPX500 well through 200dma now, NASDAQ100 through 14K and it's alarm bells, charts below
Next up AMZN tonight and bit earlier 7y UST auction, very important in current context, 5y last night wasn't pretty
Porsche warns luxury not immune to economic woes (rte.ie) Porsche has today reported nine-month results in line with its annual forecast but warned the luxury sector was suffering like others from higher costs and dampened consumer confidence as interest rates rise
EUROstoxx50 - same trend lower
Nasdaq100 a break of 14K would really put a lot more pressure on the previously magnificent 7's..
GM
GBPUSD
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