Dow Futures

The Dow Futures contract was up 175 points, or 0.6%, at 06:45 ET (10:45 GMT), the S&P 500 Futures contract was up 28 points, or 0.7%, and the Nasdaq 100 Futures contract was up 110 points, or 0.8%.

1. What’s moving markets? Higher futures, HSBC share buybacks, and a reprieve for Evergrande.
2. Dow futures jump as the Fed decision, payrolls, and Apple earnings come into focus.
3. McDonald’s sales exceed expectations as a result of a lower-cost menu and new product introductions.
4. The dollar rises ahead of the critical Fed meeting.
5. Second-home sales are declining in pandemic-era tourist hotspots.
6. Sundar Pichai, CEO of Google, will testify in a US antitrust trial.
7. Hollywood strikes to deflate holiday expectations in the media
8. Aldar Properties boasts strong growth and extends into new markets.
9. Raymond James has downgraded Cisco stock on the likelihood that sales will fall.
10. Check Point Software’s earnings were $0.05 higher than expected, and revenue exceeded expectations.
11. As labor scores another success, the UAW’s record contract might raise the pay of others.
12. After a settlement to halt the Stellantis strike, the UAW increases its GM walkout.
13. Panasonic lowers its earnings forecast for its battery unit and issues a warning about high-end EV sales.
14. Loews reports a third-quarter profit due to rising investment income and insurance premiums.
15. Realty Income will pay $9.3 billion to acquire Spirit Realty Capital.
16. Lok’nStore Group reports a decrease in pretax profit but a modest increase in revenue.
17. Southwest says the US may levy a charge for holiday cancellations in 2022.
18. Broadcom and VMware are nearing completion of their merger with global legal clearances.
19. EU regulators have set a fresh deadline of February 14 for the Amazon/iRobot agreement.
20. The stock of Ams OSRAM has risen following the sale of Asian sites and financial reorganization.

GLOBAL NEWS 

1. Japan’s markets are lower at the close of trade, with the Nikkei 225 down 0.98%. 
2. The Nifty 50 is up 0.49% at the closing of trade in India. 
3. At the close of business in Australia, the S&P/ASX 200 was down 0.79%. 
4. BYD, a Chinese electric vehicle manufacturer, declares a record quarterly profit of $1.42 billion in Q3. 
5. As interest rates rise, the Swiss National Bank lowers overnight deposit rates. 
6. Monzo is close to selling a £300 million share ahead of its planned IPO. 
7. Pearson raises its annual guidance and begins a £300 million share purchase. 
8. Global Asian stocks fall ahead of a busy policy week; the Nikkei is hammered by pre-BOJ concerns. 
9. European equities rise as inflation data is scrutinized ahead of the Fed meeting. 
10. The German economy shrank somewhat in the third quarter. 
11. Japan’s monthly report cautions that the Middle East scenario could have an impact on the economy. 
12. Shein purchases Missguided clothing from Frasers in the United Kingdom. 
13. HSBC launches a $3 billion buyback, but profits fall short due to increased costs. 
14. Foreclosures in China have increased by one-third so far in 2023. 
15. Buyers return to China’s largest trade show, but orders remain few. 
16. Glencore lowers its nickel production forecast for 2023. 
17. Asia FX is subdued, the dollar is stable with the Fed, and BOJ meetings are on the horizon. 
18. HSBC Bank Canada reports a drop in profit despite difficult market circumstances. 
19. The dollar remains near 150 yen ahead of a busy central bank and data-packed week. 
20. Oil prices fall as a Fed meeting approaches, and Middle East anxieties are put on hold. 
21. As the Fed meeting approaches, gold prices remain above $2,000 per ounce. 
22. China Evergrande’s winding-up hearing has been postponed as it seeks a fresh financing settlement. 
23. Panasonic reduces its full-year operating profit outlook for the battery unit by 15%. 
24. The Swiss National Bank regulates the interest rate on bank deposits. 
25. HSBC launches a $3 billion buyback, but profits fall short due to increased costs. 
26. Unifor, a Canadian union, has begun strikes at all Stellantis plants. 
27. According to a Reuters survey, China’s factory activity in October likely increased as the economy regained its footing. 
28. South Korean exports are expected to increase for the first time in 13 months in October, according to a Reuters poll. 
29. The UAW-Ford agreement provides significant gains for the union in terms of salaries, benefits, and investments. 
30. Qantas of Australia argues the regulator’s action ignores reality as it prepares a defense. 

 Global Economic data

• The German economy contracted a little less than expected in the third quarter of 2023, driven by lower household consumption, and revisions to previous quarters meant the economy avoided a recession previously reported last winter. Germany’s gross domestic product shrank 0.1% from July to September compared with the previous quarter.

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  Eurozone economic sentiment worsened again in October, marking six months of continual decline, as an aggregate measure of business and consumer confidence, fell to 93.3 in October from an upwardly revised 93.4 a month earlier, data from the European Commission showed.

Economic Calendar

 10:30 AM ET                Dallas Fed Manufacturing Index for October

Other Key Events

·     Apple (AAPL) announces Oct. 30th product event dubbed “scary fast.”

·     China NBS Manufacturing PMI for October

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