Dow Futures

Dow Futures contract was up 85 points, or 0.3%, by 07:00 ET (11:00 GMT), the S&P 500 Futures contract was up 12 points, or 0.3%, and the Nasdaq 100 Futures contract was up 55 points, or 0.4%.

1. What’s moving markets? Fed minutes, ExxonMobil-Pioneer deal chatter
2. The dollar is unchanged ahead of the release of Fed minutes and PPI data.
3. Futures rise as Treasury rates fall; Fed minutes are expected.
4. ExxonMobil will pay $60 billion for Pioneer in an all-stock transaction, according to reports.
5. Oil prices are rising as concerns about supply disruptions persist.
6. Despite a union strike and rising interest rates, Ford’s third-quarter statistics show growth.
7. BlackRock expects to outperform consensus projections for the third quarter of 2023, mainly to rising tech service fees.
8. Exxon is likely to buy shale rival Pioneer for $60 billion in equity, according to sources.
9. Birkenstock is planning a $8.6 billion IPO on the New York Stock Exchange.
10. GM and the Canadian union reach a tentative agreement, thus ending the strike.
11. HP anticipates profit in 2024 in line with projections and raises yearly dividend.
12. Dovish As bond yields fall, Fed officials encourage Wall Street.
13. The dollar is losing momentum ahead of the Fed meeting minutes and the US inflation test.
14.  Oil prices have barely changed as supply concerns in the Middle East dissipate.
15. Energy Transfer LP raises $4 billion in senior notes in order to restructure debt.
16. Spin Master will pay $950 million in cash to acquire Melissa & Doug.
17. ASE Technology Holdings reports September and third-quarter revenue.
18. Acer reported a 4% year-on-year increase in consolidated revenue in the third quarter.
19. Immuron sets a new quarterly sales record for travelan®.
20. MTY Food Group had GAAP earnings per share of C$1.59 and revenue of C$298.08 million.
21. Samsung Electronics anticipates a 78% reduction in operating profit in the third quarter.

GLOBAL NEWS 

1. In September, Germany’s inflation rate falls to 4.5%, the lowest level since the Ukraine war.
2. Mining gains and rate expectations help Australian markets continue their winning streak.
3. According to ICICI Direct, the Nifty will reach 21,000 by December 2023.
4. Global equities rise ahead of the Fed minutes and US inflation.
5. Samsung SDI and Stellantis have chosen Indiana for their second joint EV battery factory.
6. The UK regulator is investigating Vodafone-Hutchison’s $19 billion mobile deal.
7. European stock futures are slightly lower; German inflation is falling.
8. UK employment postings are falling, but the job market downturn may be coming to an end-REC
9. LVMH sales growth slows as the post-pandemic frenzy fades.
10. Gina Rinehart, an Australian billionaire, has acquired a 19.9% stake in Liontown, an Albemarle target.
11. Argentina’s retail prices are expected to soar by double digits in September, according to a Reuters poll.
12. The owner of Uniqlo expects a 26% profit increase as China recovers and the currency falls.
13. DRB Hicom of Malaysia has signed a deal with Geely on a domestic car hub.
14. Singapore’s third-quarter GDP is expected to remain poor.
15. Chevron Australia and LNG unions extend salary negotiations until Thursday.
16. Australia has released a draft bill to regulate digital payment firms.
17. China’s Big Tree Cloud has agreed to a $500 million SPAC transaction for a US listing.
18. Kia Corp’s unionized workers will go on strike over salaries.
19. Asia’s markets hit a two-week high as Fed chatter becomes more dovish.
20. The economy of New Zealand presents a challenge to the election winner.
21. Bank of Queensland shares fall as dividends are reduced and profits fall.

 Economic data

The NFIB Small Business Optimism Index fell to 90.8 vs. 91 est. & 91.3 in prior month; outlook down sharply to -43; index in September also remained below its 49-year average of 98 points for the 21st-straight month.

August wholesale sales were quite strong at +1.8% m/m vs. +0.4% est. & +1.2% in prior month. Wholesale Inventories for August fell (-0.1%) M/M to $900.2B vs. (-0.1%) consensus, -0.1% prior August estimate, and -0.2% in July.

Economic Calendar

7:00 AM ET                  MBA Mortgage Applications Data

8:30 AM ET                  Producer Price Index (PPI) headline M/M for Sept.

8:30 AM ET                  Producer Price Index (PPI) headline Y/Y for Sept.

8:30 AM ET                  PPI Ex: Food & Energy (core) M/M for Sept.

8:30 AM ET                  PPI Ex: Food & Energy (core) Y/Y for Sept.

10:30 AM ET                Weekly DOE Inventory Data

12:15 PM ET                Fed’s Bostic Speaks to the Metro Atlanta Chamber

1:00 PM ET                   US Treasury to sell $35B in 10-year notes.

2:00 PM ET                   FOMC Meeting Minutes

Other kay Events

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

G2EGaming Conference in Las Vegas, 10/10-10/11

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