Dow Futures

Dow Futures

Dow Futures contract was up 125 points, or 0.4%, at 06:55 ET (10:55 GMT), the S&P 500 Futures contract was up 18 points, or 0.4%, and the Nasdaq 100 Futures contract was up 60 points, or 0.4%.

1. CPI is looming, and the Fed has signaled caution about future rate decisions – what’s driving markets? 
2. The dollar falls ahead of a critical US CPI announcement; UK GDP increased in August. 
3. Dow futures rise ahead of the September CPI announcement.
4. Earnings at Walgreens Boots were $0.02 lower than expected, but revenue exceeded expectations.
5. Despite the deteriorating economy, IKEA remains committed to China.
6. Delta reduces its full-year profit forecast because to increasing fuel expenses. 
7. The UAW has shut down Ford’s largest facility; Stellantis discussions have resumed. 
8. Domino’s Pizza is on the rise after exceeding profit projections. 
9. Wells Fargo provides a financial planning tool to almost 70 million consumers. 
10. Ericsson shares are volatile following earnings and a $2.9 billion hit. 
11. Striking Hollywood actors and studios have halted contract negotiations. 
12. Accenture postpones wage increases for 2023 due to IT industry problems. 
13. In an unexpected move, the UAW extends its car strike to Ford’s largest factory. 
14. Despite dwindling ownership shares, Nasdaq Inc sees significant upside. 
15. Gasoline and food prices are driving up producer prices in the United States. 
16. Disney is raising costs at its theme parks in Florida and California, according to sources. 
17. Extreme weather could cost the global economy $5 trillion, according to Lloyd’s. 
18. Walgreens Boots Alliance benefits from the appointment of Wentworth as CEO. 
19. Edward Don & Company will be acquired by Sysco Corp. 
20. Nuton, a Rio Tinto Venture, has announced an additional $10 million investment in McEwen Copper. 
21. Sysco Corp. will purchase leading equipment and supply distributor Edward Don & Company. 
22. Birkenstock will list in New York following $1.5 billion IPO 

GLOBAL NEWS 

1. Asian stocks rise as investors bet on a Fed reversal; US inflation is in focus 
2. European equities rise; UK GDP provides promise for future growth 
3. South Africa’s economy is anticipated to strengthen until 2024, according to a Reuters poll.The EU antitrust authorities have ordered Illumina to sell Grail.
4. The Middle East’s growth will resume in 2024, but fundamental difficulties must be addressed, according to the IMF. 
5. The ECB can aim for a soft landing for the economy. – Villeroy & Boch 
6. The sluggish UK economy barely makes a minor recovery in August. 
7. Taiwan says it is waiting for the United States to declare a renewal of the China chip waiver. 
8. Crypto Payments for High-Risk Industries Unveiled by European Banking Solutions 
9. The EU antitrust authorities have ordered Illumina to sell Grail. 
10. FW Thorpe reports a 13% increase in operating profit and increases the final dividend. 
11. Chinese bank stocks are surging as Central Huijin Investment increases its stake. 
12. Fast Retailing, the parent company of Uniqlo, has increased its yearly profit by 28% to a new high. 
13. Sri Lanka claims it has reached an agreement with China EXIM Bank to repay $4.2 billion in debt. 
14. Honda and Mitsubishi Corp have signed an agreement to optimize the utilization of EV batteries. 
15. Publicis lifts its sales forecast for 2023 yet again as the third quarter exceeds expectations. 
16. Givaudan sales are being pulled down by currency effects, and North America remains poor. 
17. Japan must prioritize wage growth over inflation, according to Noguchi of the Bank of Japan. 
18. Household debt growth in South Korea falls in September. 
19. Pricol shares rise 3% following a technology transfer agreement with Heilongjiang Tianyouwei. 
20. New entrants to the MSCI Global Standard Index are possible, with $877 million in inflows projected. 
21. Ukraine receives a $1.15 billion contribution from the United States through a World Bank initiative. 
22. The German economy is predicted to decrease 0.4% in 2023, according to the economy ministry. 

Economic data

The Producer Price index (PPI) for September rises +2.2% y/y above est. +1.6% (and previous 1.6%) and on a month/month basis, rises +0.5% vs. est. +0.3% (and vs. prior reading +0.7%). On a core basis, PPI y/y rises +2.7% vs. est. +2.3% and above last month 2.2% and m/m rises +0.3% vs. est. and prior reading +0.2%.

 Global Economic data

The bull-bear spread in the American Association of Individual Investors (AAII) weekly survey was 3.5 vs -11.5 last week; Bulls rise to 40% from 30.1%, Neutrals fall to 23.5% from 28.3%, Bears fall to 36.5% from 41.6%.

Interesting stats: S&P Global Market Intelligence recorded 62 bankruptcy filings in September, bringing the total for the third quarter to 182, up from 157 during the second quarter. That brings the total for 2023 so far to 516.

US warns Israel to ‘uphold laws of war’ as Gaza faces onslaught ‘; President Biden said Israel had a right to respond to the attacks by Hamas but warned its retaliatory action must be “according to the rule of law”. Jens Stoltenberg, NATO’s secretary general, echoed the call on Wednesday, urging a “proportionate” Israeli response that protected “innocent civilian lives”. – Telegraph.

Economic Calendar

8:30 AM ET                  Weekly Jobless Claims…est. 210K

8:30 AM ET                  Continuing Claims…est. 1.68M

8:30 AM ET                  Consumer Price Index (CPI) headline M/M for Sept…est. +0.3%

8:30 AM ET                  Consumer Price Index (CPI) headline Y/Y for Sept…est. +3.6%

8:30 AM ET                  CPI Ex: Food & Energy (core) M/M for Sept…est. +0.3%

8:30 AM ET                  CPI Ex: Food & Energy (core) Y/Y for Sept…est. +4.1%

10:30 AM ET                Weekly EIA Natural Gas Inventory Data

11:00 AM ET                Cleveland Fed CPI for September

1:00 PM ET                   US Treasury to sell $20B in 30-year notes.

1:00 PM ET                   Fed’s Bostic Delivers Welcoming Remarks

2:00 PM ET                   Federal Budget for September

Other kay Events

 China Cpi, PPI, Imports, Export data for September

2023 AACR-NCI-EORTC (2023 Triple Meeting”) taking place 10/11-15 in Boston, MA

Roth MKM 2^nd Annual Healthcare Opportunities Conference, 10/12, in New York

Must read book about investing – check here

Dow Futures Dow Futures Dow Futures Dow Futures Dow Futures Dow Futures Dow Futures Dow Futures Dow Futures