Global Markets:
● Asian Stock Markets : Nikkei up 0.76%, Shanghai Composite up 0.01% Hang Seng up 0.05% ASX down 0.60%
● Commodities : Gold at $4,185.92 (0.21%) Silver at $59.453 (-0.14%), Brent Oil at 106.39 (0.66), WTI Oil at 94.81 (0.67%)
● Rates : US 10-year yield at 5.205, UK 10-year yield at 5.4526, Germany 10-year yield at 3.4608
News & Data:
● (USD) Existing Home Sales 3.99M to 3.95M expected
Markets Update:
U.S. stock futures were little changed Tuesday night as investors awaited September’s consumer inflation report. S&P 500 futures slipped 0.03%, while Nasdaq-100 futures fell 0.1%, following a second consecutive session of losses for the major indexes.
Bank of America shares dropped more than 2% in extended trading after regulators imposed over $1.2 billion in federal penalties, alleging the bank failed to report more than $5 billion in suspicious transactions.
Asian markets were mixed. Australia’s S&P/ASX 200 declined 0.62%, while Japan’s Nikkei 225 gained 0.32% and South Korea’s Kospi advanced 0.82%.
Wall Street’s major indexes fell Tuesday as semiconductor stocks extended their decline. The VanEck Semiconductor ETF dropped for a sixth straight session amid concerns about excessive artificial intelligence spending and intensifying competition from China.
Despite strong quarterly results from several major banks, shares of Goldman Sachs and Citigroup ended lower, suggesting investors have raised their expectations for third-quarter earnings. FactSet estimates indicate S&P 500 companies will deliver approximately 30% blended earnings growth, while semiconductor and equipment earnings could surge 130%.
Investors are now focused on Wednesday’s U.S. consumer price index report. Economists expect annual inflation to accelerate to 3.6%, up from 3.4% previously.
Elevated oil prices and rising gasoline costs remain concerns, with average U.S. pump prices reaching $4.34 per gallon, compared with $3.08 a year earlier.
Wednesday’s earnings calendar includes Bank of America, Morgan Stanley and Dutch semiconductor equipment maker ASML, adding to an already busy week for investors.
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