Dow futures fell 20 points or 0.1%, S&P 500 futures were basically flat, and Nasdaq 100 futures increased 26 points or 0.2% at 06:47 ET (10:47 GMT).

1. Futures in the United States soar after the government shutdown is averted – what’s driving markets? 
2. Futures prices rise as the US Congress avoids a government shutdown. 
3. Futures tremble after a U.S. stopgap funding agreement; data and the Fed speak ahead
4. New car sales in the United States are expected to rise in the third quarter, but UAW strikes may cause a hiccup.
5. Morgan Stanley has named US Steel a new Top Pick.
6. The curtain rises on a new term for the conservative United States Supreme Court.
7. Oil prices remain stable as attention returns to the supply picture.
8. The yen is closing in on 150 as the dollar strengthens.
9. McCarthy, the US House Speaker, braces for a new Republican insurrection. 
10. According to EU antitrust regulators, there will be no formal probe into AI chips. 
11. Accenture expands its marketing transformation capabilities with the purchase of SIGNAL. 
12. According to Bank of America, the S&P 500 will dip below 4200 before rallying at the end of the year. 
13. Coinbase obtains a full Singapore license, broadening its digital asset offerings. 
14. Bain Capital invests $200 million in Masan, a Vietnamese company. 
15. UAW employees and Mack Trucks reach an agreement to prevent a strike. 
16. Walmart claims to be simplifying job titles and changing pay for corporate employees. 
17. Dow futures rise slightly, but Nike shares surge ahead of the open. 
18. Sony said the Zee merger will be delayed by a few months. 
19. Alphabet’s investment in quantum computing and artificial intelligence boosts ad revenue. 
20. The number of migrants crossing Panama’s Darien Gap has surpassed 400,000, setting a new high. 
21. Hardline Republican holdouts edge the US government closer to a shutdown. 
22. Elon Musk enters the US immigration issue at the Texas-Mexico border. 

GLOBAL NEWS 

1. Birkenstock of Germany aims for a $9.2 billion valuation in its New York IPO.
2. Azul, a Brazilian airline, has completed a payment agreement with lessors and OEMs.
3. Alternative Income REIT reports a pretax loss in the first quarter due to the effects of inflation and interest rates.
4. The JSW Infrastructure IPO is generating a lot of buzz, and it’s poised to go public on October 3rd.
5. In Pakistan, inflation has risen to 31.4% year on year, owing to high energy prices. 
6. Europe’s markets are eking out gains, as the yen hovers at 150. 
7. Allianz names a new chief financial officer and extends the CEO’s term until 2028. 
8. Apple’s arguments to fines are rejected by the Dutch authority. 
9. The UK government has shortlisted six companies for nuclear reactor development. 
10. European stocks begin the fourth quarter with modest gains as the US escapes a shutdown. 
11. The chairman of Evergrande is being probed for offshore asset transfers, according to the Wall Street Journal. 
12. British workers get a better deal in terms of flexible hours, sick pay, and meals. 
13. The forthcoming IPO of an Indonesian energy behemoth is expected to raise $203 million. 
14. The Indian stock markets are closed for the Gandhi Jayanti holiday, and trade has ceased. 
15. SingTel to sell Trustwave stake for $205 million 
16. UK shops demand that the government do steps to combat rising crime. 
17. Thai Prime Minister promotes stimulus initiatives and talks with central bank chief following surprise rate hike 
18. World markets edge higher, as bonds surge at the end of a bleak quarter. 
19. Sony said the Zee merger will be postponed for a few months. 
20. Cathay Pacific pays $4.66 billion for 32 Airbus A321-200neo planes. 

 Economic data

·     Personal Income M/M for August rose +0.4%, in-line with consensus (and up from +0.2% last month), while Personal Spending rose +0.4% vs. est. +0.5%; Aug personal saving rate 3.9%.

·     Aug Core PCE price index rises 0.1% M/M vs. est. 0.2% and +0.2% prior (better)

·     Aug core PCE price index rises 3.9% y/y, in-line with estimates (below prior month +4.2%) and marks the first reading below 4% since July of 2021 (better)

·     Aug PCE Price Index M/M rises +0.4% vs. est. +0.5% (prior +0.2%) and Y/Y rises +3.5%, in-line with consensus but slightly up from prior +3.3% reading. (mixed)

·     August Advance International Trade in Goods deficit shrinks to (-$84.27B) from (-$90.92B) in July and below (-$91.20B) consensus. Exports of goods were $168.9B, $3.6B more than July exports and Imports of goods were $253.1B, $3.1B less than July.

·     August Retail Inventories (Advance) +1.1% to $793.4B vs. +0.5% prior.

·     Chicago PMI for September fell further into contraction territory, reported at 44.1 from 48.7 in August and below consensus of 47.6.

·     The University of Michigan consumers sentiment final Sept 68.1 vs. est. 67.7 and vs. Final Aug 69.5; current conditions index final Sept 71.4 vs prelim Sept 69.8 and final Aug 75.7 and the expectations index final Sept 66.0 vs prelim Sept 66.3 and final Aug 65.5.

·     University of Michigan surveys of consumers 1-year inflation outlook final sept 3.2% vs prelim 3.1% and final aug 3.5% and 5-year inflation outlook final sept 2.8% vs prelim 2.7%; final Aug 3.0%

Global Economic Data

·     China Sep Caixin Manufacturing PMI at 50.6 vs 51.2 consensus; China Sep Caixin Services PMI 50.2 vs 51.8 previous. China Sep Official Manufacturing PMI 50.2 vs 50 consensus; China Sep Official Non-Manufacturing PMI 51.7 vs 51 previous.

·     In Japan, the Q3 Tankan Survey showed a beat for large enterprises at 9 vs the expected 6, showing an improvement for the second straight quarter and to its highest level since Q2 2022.

Economic Calendar

·     9:45 AM ET                  S&P Global Manufacturing PMI, Sept-F

·     10:00 AM ET                Construction Spending M/M for August

·     10:00 AM ET                ISM Manufacturing PMI for September

·     10:00 AM ET                Fed’s Powell and Harker Participate in Roundtable Discussion

·     1:30 PM ET                   Fed’s Williams Moderates Discussion on Climate Risk

·     7:30 PM ET                   Fed’s Mester Speaks on Economic Outlook

Other Key Events:

• Chardan 7th Annual Genetic Medicines Conference, 10/2-10.3, in New York
• Deutsche Bank 31st Annual Leveraged Finance Conference, 10/2-10/4, in Scottsdale, AZ

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