Dow Futures

Dow Futures contract was up 135 points, or 0.4%, at 06:50 ET (10:50 GMT), the S&P 500 Futures contract was up 22 points, or 0.5%, and the Nasdaq 100 Futures contract was up 120 points, or 0.8%.

1. Futures are higher following the Fed’s decision, and Apple earnings are expected – what’s driving markets?
2. Dow futures climb on rate confidence; Apple results to be released
3. Fox Corporation exceeds quarterly sales expectations due to growth in the television segment.
4. ConocoPhillips exceeds third-quarter profit expectations due to greater output.
5. Shopify is up 15% after exceeding earnings expectations.
6. Peloton anticipates low second-quarter sales.
7. Uber, Lyft to pay $328 million to settle New York wage theft claims
8. Eli Lilly earnings beat by $0.30, revenue topped estimates
9. Starbucks is on the rise after announcing good fourth-quarter earnings.
10. Barrick Gold exceeds Q3 profit projections due to increased production and cheaper expenses.
11. Marriott International’s earnings and revenue both exceeded expectations.
12. The STOXX 600 index continues to rise, with real estate and technology sectors leading the way.
13. Six Flags and Cedar Fair are negotiating a merger.
14. Tesla’s China-made EV sales fell 2.6% in October compared to September.
15. Shell ADR earnings were $0.93 lower than expected, and revenue fell short of expectations.
16. Procore Technologies’ revenue increased by 33% year on year, exceeding forecasts.
17. Airbnb falls after forecasting a lower-than-expected fourth-quarter revenue; reactions are divided.
18. In September, job opportunities in the United States remained high. 
19. The Netflix ad-tier has reached 15 million global monthly active users. 
20. The manufacturing PMI in Canada increased in October for the first time in three months. 
21. The Canadian factory PMI increased in October, although the sector remained in recession. 
22. In October 2023, unified payment interface transactions reached an all-time high. 
23. Despite economic challenges, wage growth in the United States remains robust. 
24. LinkedIn surpasses one billion members and introduces AI services for job seekers. 
25. Splunk is planning to lay off approximately 7% of its personnel. 
26. Meta, the owner of Facebook, is facing an EU ban on targeted advertising. 
27. Private payrolls in the United States fell short of estimates in October – ADP  
28. U.S. will build its own AI Safety Institute – Raimondo 
29. The US Treasury expands the size of the majority of its debt auctions. 
30. Delta fires certain corporate employees in order to save money. 
31. Qualcomm tops expectations on China strength, and shares climb.

GLOBAL NEWS 

1. At the close of trading, Australian equities were higher; the S&P/ASX 200 was up 0.90%.
2. European stocks leap higher; Shell profits on buybacks, and the BOE comes under scrutiny
3. Japan’s markets are up at the close of trade, with the Nikkei 225 up 1.20%.
4. Despite signals of a downturn, the Bank of England intends to hold interest rates at a 15-year high.
5. Norway maintains interest rates unchanged and expects an increase in December.
6. Japan has compiled a $113 billion package to combat inflation.
7. Sberbank, Russia’s dominant lender, reports record third-quarter profits.
8. In October, German unemployment rose more than predicted.
9. The eurozone factory downturn exacerbated in October, according to the PMI.
10. Ex-central bank economist warns that the BOJ risks falling behind the curve on inflation.
11. Tesla’s China-made EV sales fell 2.6% in October compared to September.
12. In October, German manufacturing remained under pressure, according to the PMI.
13. The manufacturing sector in Italy continues to contract due to insufficient demand – PMI
14. Lufthansa is optimistic about travel demand as the third quarter exceeds expectations.
15. Shell’s third-quarter profit falls to $6.2 billion, but the company increases buybacks.
16. The quarterly cash dividend of Canadian Natural Resources has been increased by 11%.
17. Australian markets rise as the Federal Reserve signals a halt to rapid rate rises.
18. Tokyo equities rise as US Federal Reserve interest rates remain unchanged.
19. Asian stocks soar as technology rallies in response to lessening Fed concerns; China lags. 
20. Asia’s currency strengthens, while the dollar falls on expectations of no more Fed rate hikes. 
21. Bitcoin reaches a 17-month high as Powell strikes a less hawkish tone. 
22. Asiana supports the sale of its cargo operation, removing a roadblock to the Korean Air merger. 
23. Santos’ $3.6 billion Barossa gas pipeline construction in Australia has been halted by an Australian court. 
24. Bayer plans to appeal a $332 million verdict related to Roundup claims. 
25. Zalando lowers their revenue target for 2023 as demand remains poor. 
26. Hong Kong’s central bank keeps interest rates constant, mirroring the Fed’s action. 
27. Delta fires certain corporate employees to save money. 
28. Kishida of Japan unveils a $113 billion package to battle inflation. 
29. In September, Australia’s trade surplus fell to a 12-year low. 
30. The IMF and Gambia have agreed on a new $100 million assistance package. 

Economic data

ADP Private payroll data reported at 113K, below the consensus estimate 150K jobs after added 89K jobs last month; data comes ahead of the nonfarm payroll data Friday. 

 U.S. Sept. Job openings (JOLTS) reported at 9.553M vs. est. 9.400M; 1.52 million layoffs in Sept, down from 1.68 million in Aug. layoff rate fell to 1.0% in Sept from 1.1% in Aug. 

 ISM U.S. manufacturing activity index 46.7 in October below consensus 49.0 as prices paid index 45.1 in October (vs. est. 45.0) vs 43.8 in September; new orders index 45.5 in October vs 49.2 in September; and employment index 46.8 in October (consensus 50.3) vs 51.2 in September. 

September construction spending +0.4% m/m vs. +0.4% est. and rises 1% in prior month (rev up from +0.5%); private residential construction +0.6%. 

 Global Economic data

DoubleLine Capital CIO Jeff Gundlach, speaking Wednesday on CNBC late yesterday said the mounting federal deficit, which stood at $1.7 trillion, up $320 billion, or 23%, from a year ago as of Sept. 30, according to the Treasury Department, could eventually overwhelm the government’s ability to service its debts. That deficit marks the third highest on record, after fiscal years 2020 and 2021.

The bull-bear spread in the American Association of Individual Investors (AAII) weekly survey was -26 vs -13.9 last week. Bulls fall to 24.3% from 29.3%, Neutrals fall to 25.4% from 27.5%, Bears rise to 50.3% from 43.2%.

Israel said its forces are pushing deeper into Gaza, including making advances into Gaza City in the north, amid heavy fighting against Hamas militant -Bloomberg.

Economic Calendar

7:30 AM ET                  Challenger Layoffs for October

8:30 AM ET                  Weekly Jobless Claims

8:30 AM ET                  Continuing Claims

8.30 AM ET                  Nonfarm Productivity for Q3

8:30 AM ET                  Unit Labor Costs for Q3

10:00 AM ET                Durable Goods Orders M/M for September

10:00 AM ET                Factory Orders M/M for September

10:30 AM ET                Weekly EIA Natural Gas Inventory Data

Other Key Events

· China Caixin Services PMI for October

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