Dow Futures

Dow Futures contract was down 85 points, or 0.3%, the S&P 500 Futures contract was down 8 points, or 0.2%, and the Nasdaq 100 Futures contract was down 15 points, or 0.1%.

1. What’s affecting markets? U.S. futures are down, bonds are in focus, and jobs data is on the way.
2. Futures prices fall ahead of critical employment data, while concerns about rising Treasury yields persist.
3. Dow futures fall as additional labor market data is due.
4. The UAW and Ford Motor Company make headway in their labor negotiations.
5. Puma shares are falling as analysts predict a Q3 miss.
6. Analysis-Record chicken prices sting US consumers while benefiting Tyson Foods
7. Oil falls 6%, the most in a year; gasoline production hijacks OPEC show
8. To solve operational constraints, US carriers are moving to larger planes.
9. The US dollar’s surge has been fueled by rising real yields on Treasuries.
10. According to a Reuters survey, the Canadian dollar is expected to recover as US ties support the domestic economy.
11. Chevron and Australian unions hit a hitch in the agreement; workers to gather for a possible strike vote
12. Foxconn anticipates good Christmas sales in Q4, despite a drop in September sales.
13. Imperial Brands anticipates increased profit and announces a £1.1 billion share repurchase.
14. Elon Musk’s X platform is experiencing user confusion and a decline in ad revenue.
15. Raymond James downgrades Clorox after its guidance was lowered following a cyber incident.
16. Marcus Lemonis, the new director of Overstock.com, purchases roughly $500K in stock.
17. McDonald’s Increases Quarterly Dividend by 9.9% to $1.67, Yielding 2.6%
18. Amazon and Microsoft are being investigated in the UK cloud sector.
19. Suncor Energy broadens its portfolio by acquiring TotalEnergies’ Canadian operations.
20. Citigroup has an upbeat forecast for PPG Industries, predicting a stock gain of 23.06%.
21. Mortgage rates in the United States have reached a 21-year high, affecting the housing market.
22. Conagra Brands reports a quarterly profit due to higher prices.

GLOBAL NEWS 

1. Australia’s stocks are higher at the close of trade, with the S&P/ASX 200 up 0.51%.
2. Japan’s markets are up at the close of trade, with the Nikkei 225 up 1.69%.
3. The Nifty 50 is up 0.56% at the closing of trade in India.
4. European markets rise as economic pessimism is eclipsed by advances in the United States.
5. A key Republican supports Biden’s nomination to lead the FAA.
6. Committed Cargo Care will launch an IPO, with a target valuation of Rs. 25 crore in India’s logistics sector.
7. After SAS’s investment, Air France-KLM remains interested in acquiring TAP.
8. Metro Bank plummets amid talk of massive fundraising to repair its finances.
9. The UK cloud sector is being scrutinized due to competition concerns.
10. NatWest is hastening branch closures in response to the rise of internet banking.
11. In Thursday’s NSE session, Suzlon Energy shares rose as HDFC Bank topped the turnover charts.
12. Volvo Cars’ September sales increased by 25%, and demand in China increased.
13. Renk Group’s initial public offering (IPO) has been postponed owing to market conditions.
14. HDFC Bank shares increase on a strong second-quarter update and a $40 billion deal.
15. Retail applications in India’s IPO market increased in the first half of fiscal year 24.
16. European markets rise as economic pessimism is eclipsed by advances in the United States.
17. The September Indian Services PMI was 61, up from 60.1 in August, and the Composite PMI was 61, up from 60.9.
18. European markets rise as the US yield rush comes to a halt.
19. Sentiment among small German firms is reaching epidemic lows, according to a poll.
20. Casino, a French retailer, has completed a rescue deal backed by a Czech businessman.
21. Sri Lanka resumes interest rate reduction to stimulate growth as inflation falls.
22. VinFast, a Vietnamese EV manufacturer, more than doubles its revenue in the third quarter.
23. After SAS’s investment, Air France-KLM remains interested in acquiring TAP.

 Economic data

Jobs weaker: September ADP Jobs report at 89K, below the 150K consensus and 180K in August (which was revised from +177K). Next jobs data tomorrow in Weekly Jobless Claims then the September Nonfarm Payroll data on Friday.

ISM non-manufacturing for Sept 53.6, in-line with consensus and down from the Aug reading of 54.5; business activity index 58.8 vs August 57.3, prices paid index steady at 58.9 in Sept, new orders index 51.8 down from August 57.5 and employment index 53.4 in Sept vs August 54.7.

Factory orders rose 1.2% in August vs. est. +0.2%, while orders ex-transportation +1.4% vs July +0.9% (prev +0.8%); factory orders ex-defense +0.8% vs July -2.2%; Aug Durables orders revised to +0.1% from +0.2%; Aug nondurables orders +2.1% vs July +1.5%.

S&P Global September final services PMI at 50.1 (vs flash 50.2).

Global Economic Data

 The bull-bear spread in the American Association of Individual Investors (AAII) weekly survey was -11.5 vs -13.1 last week. Bulls rise to 30.1% from 27.8%, Neutrals fall to 28.3% from 31.3%, Bears rise to 41.6% from 40.9%.

Economic Calendar

7:30 AM ET                  Challenger Layoffs for September

8:30 AM ET                  Weekly Jobless Claims

8:30 AM ET                  Continuing Claims

8:30 AM ET                  International Trade for August

9:00 AM ET                  Fed’s Mester Speaks at Chicago Payments Symposium

10:30 AM ET                Weekly EIA Natural Gas Inventory Data

12:00 PM ET                Fed’s Daly Speaks at Economic Club of New York

Other Key Events:

JMP Securities Internet Forum, 10/5, in New York

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