Preview of financial markets: October 5th-9th
Preview of key economic data and central bank events for the week of October 5th-9th.
Crypto, forex and global macro markets — insight to help you spot the opportunity
Preview of key economic data and central bank events for the week of October 5th-9th.
JPMorgan added American Express, Liberty Energy, and Thermo Fisher to its October favorite stocks list. The update follows a mixed September for US markets.
No significant FX option expiries are near spot levels, leaving trading focused on macro factors and persistently high bond yields after a soft US jobs report.
Gold struggles near $4,140 as bond yields stay high, offsetting a soft US jobs report.
Mark Cuban warns AI skills, not AI itself, determine job security. Over 750,000 AI jobs added since 2023, but layoffs citing AI doubled.
Despite a softer US jobs report, bond yields rebounded quickly, remaining the main market pressure point as traders eye inflation data and fiscal policy.
US 10-year yields above 5% and interest costs over $1 trillion, but 8.5% growth still outruns the 3.4% average debt rate, delaying a debt spiral.
Schwab's Kevin Gordon cautions that one mega-cap capex miss could disrupt earnings, with the S&P 500 near highs but average stock down 14%.
Dollar strengthened, crude slipped, and Japan's Nikkei hit a three-month high; Fed minutes are due on Wednesday.
Egan-Jones predicts AI disruption will first hit professional services, venture capital, and housing, citing KPMG fee cuts and IBM's stock drop as evidence.