Global Markets:
● Asian Stock Markets : Nikkei down 2.62%, Shanghai Composite down 0.30% Hang Seng up 1.57% ASX up 0.31%
● Commodities : Gold at $4,000.05 (-0.78%) Silver at $51.260 (-2.13%), Brent Oil at 112.13 (1.20%), WTI Oil at 103.24 (1.22%)
● Rates : US 10-year yield at 4.919, UK 10-year yield at 5.3005, Germany 10-year yield at 3.3557
News & Data:
● (USD) Advance GDP Price Index q/q 2.3% to 3.2% expected
● (EUR) Main Refinancing Rate 2.65% to 2.65% expected
Markets Update:
U.S. stock futures fell early Friday as Amazon and Intel shares slumped following their latest quarterly results, intensifying concerns about artificial intelligence (AI) spending and growth prospects.
Nasdaq-100 futures dropped 2.1%, while S&P 500 futures declined 1%. Dow futures lost 104 points.
Asian markets were broadly lower. Japan’s Nikkei 225 fell 2.63%, while South Korea’s Kospi dropped 4.74%. Hong Kong’s Hang Seng Index gained 1.64%, and Australia’s S&P/ASX 200 edged up 0.29%.
Amazon shares tumbled 6% in extended trading after its third-quarter earnings and revenue missed expectations. The company reported negative free cash flow of $42.4 billion and maintained its 2026 capital expenditure forecast at $220 billion.
Intel plunged 21% after issuing a weak current-quarter outlook, citing a slowdown in personal computers. Revenue from its client computing and physical AI group declined 5% year over year to $8.1 billion. Sandisk fell 3% despite beating quarterly estimates and announcing an eight-for-one stock split.
The declines followed Alphabet’s 12% drop Thursday after disappointing quarterly results and negative free cash flow of $9.07 billion. The Nasdaq Composite fell 1.4%, while the S&P 500 lost 0.3%.
Investors remain concerned about AI infrastructure spending, elevated debt among specialized cloud providers, and the sustainability of technology valuations. CoreWeave shares have plunged 30% this month, while Nebius has declined 27%.
For October, the Nasdaq Composite is heading toward a 2.5% loss, while the S&P 500 and Dow are on track to gain 0.9% and 2.8%, respectively.
Upcoming Events:
● 12:30 PM GMT – USD Employment Cost Index q/q
Risk Warning: Trading in securities involves significant risk. Prices may fluctuate and securities can become entirely valueless. You may incur losses that exceed your potential profits, and in some cases, losses may exceed the amount you have deposited. Securities, futures, options, and contracts for differences are complex financial instruments and are not suitable for all investors. Engaging in such transactions requires a sound understanding of the associated risks. Please read and ensure you fully understand our Risk Disclosure.
Our leverage is dynamic and may change at any time. Such changes may affect your positions and margin requirements. You are responsible for monitoring your positions and maintaining sufficient margin at all times.