Equity-index futures for the US fell while gold hit a record for a second day as the looming government shutdown in the US cast doubt on the release of economic data key to the Federal Reserve’s interest-rate path. Contracts for the S&P 500 and Nasdaq 100 index fell 0.4% after a stopgap funding bill to avoid the closure failed. The dollar steadied after three days of losses while while gold rose above $3,875 an ounce. Asian shares fell 0.4% with China and Hong Kong closed for a holiday. Treasuries were mostly flat with the yield on the 10-year at 4.15%.
The US government hurtled toward a shutdown as Congressional Democrats and President Donald Trump dug on a confrontation over health-care spending. The president raised the stakes in the fight, saying his administration may permanently fire “a lot” of federal workers in the event of a shutdown. Investor focus is squarely on the looming shutdown, which threatens to delay key economic reports used to gauge the Fed’s path on rate cuts. While most standoffs have ended in last-minute deals, past episodes have caused enough disruption in the federal bureaucracy to force Wall Street to weigh the potential fallout for US markets. The latest deadlock over spending threatens to paralyze many US government operations for the first time in nearly seven years, causing the suspension of services for Americans and paychecks for federal workers. Traders are concerned that the shutdown would delay the release of Friday’s nonfarm payrolls data by the Bureau of Labor Statistics. Economic data over the past month has shown that the labor market is slowing down while inflation is relatively under control — though still above the Fed’s 2% target. The shutdown will likely end when enough Democrats accede to a short-term funding bill that allows for health care negotiations and sets up another deadline later this fall, said Sarah Bianchi, a strategist at Evercore ISI, in a note late Tuesday. Traders have also been hearing from a handful of Fed speakers. Chicago Fed President Austan Goolsbee said the most recent round of tariffs may be causing businesses in his district to again pause decision-making in order to see where the levies settle. Federal Reserve Bank of Dallas President Lorie Logan said policymakers should be cautious in considering additional interest-rate reductions while inflation remains above target and the labor market relatively balanced. US After Hours NKE +4.2% higher on earnings; LAC +30.9% on Bloomberg report US plans to take stake.
Nikkei -0.86% Hang Seng Closed CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.1757 CNH 7.1342 CNY 7.1214 JPY 147.58 GBP 1.3462 CHF 0.7945 RUB 82.8542 TRY 41.5853 WTI$ 62.55 +0.29% Gold 3,863.85 +0.13% BTC 114,308 -0.29% ETH 4,140 -1.32%
S&P -0.47% Nasdaq -0.52% EuroStoxx +0.05% FTSE +0.05% Dax -0.11% SMI +0.58%
Macro :
- Government Heads for Shutdown as Rival Votes Fail in Senate, Congress is set to miss 12:01 a.m. deadline to fund federal agencies - WSJ
- After Hours Summary: NKE +4.2% higher on earnings; LAC +30.9% on Bloomberg report US plans to take stake
- Gulf sovereign wealth funds defy lower oil prices to top global investment - FT
- James Anderson warns Nvidia’s $100bn OpenAI bet echoes dotcom bubble
- French Sept. New Car Registrations Rise 1%: PFA Association
Keep an eye on :
Keep an eye on :
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- FLY US : *FIREFLY FALLS 21%, MOST SINCE AUG IPO, AFTER ROCKET TEST MISHAP
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- GLB ID : Glanbia Holder Tirlan Co-Operative Society OfferNOVN SWs Shares
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- INTUM SS : Intrum CEO Buys SEK980,000 of Shares in Swedish Debt Collector
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- NKE US : Nike 1Q Revenue Beats Estimates, Nike Rises as Turnaround Plans ‘Bearing Fruit’: Street Wrap
- 7201 JP : Nissan to Reboot Xterra SUV as a Hybrid, Freezes Plans for US EV
- 7201 JP : *Nissan Japan Sales Fell 20.0% on Year in Sep
- NOVN SW : Novartis Gets FDA Nod for Rhapsido
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- NVDA US : How long can Nvidia stay ahead of Chinese competition? - FT
- OXY US : *BERKSHIRE HATHAWAY NEAR $10B DEAL FOR OCCIDENTAL'S OXYCHEM: WSJ
- OKLO US : Oklo, TRISO-X, Others Tapped for Nuclear Fuel Line Project
- PHAEMA NA : Pharming Group’s Leniolisib Gets FDA Priority Review for APDS
- 1913 HK : Prada : Prada Group Secures EU Approval for 1.25 Billion-euro Versace Acquisition, Deal Set to Close in 2025 - WWD
- QCOM US : Qualcomm Says Arm’s Last Remaining Legal Claim Rejected by Court
- REGN SW : *TRUMP PRAISES REGENERON COVID THERAPY
- RNO FP : French Sept. New Car Registrations Rise 1%: PFA Association
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- SAB SM : Sabadell Board Rejects BBVA’s Improved $20 Billion Takeover Bid
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- STAN LN : 1MDB Liquidators Lose Bid to Sue StanChart, BSI in Singapore: BT
- STLA IM : Stellantis to Pause Some Output at Two Plants in France: Echos
- 2330 TT : Taiwan Rejects US Request to Make Half Its Chips Locally: CNA
- TE FP : Technip Energies Gets 2 Services Contracts for Spain Project
- HO FP : Thales to Pay Interim Cash Dividend of €0.95/Share
- UCG IM : UniCredit Takes New Steps to Shrink Russia Business: Kommersant
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- VACN SW : VAT Path to Midterm View Faces Market, FX Hurdle: Equity Outlook
- VAHN SW : Vaudoise rachète Ecofin Investment Consulting
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- VWS DC : Vestas Wins New Orders in Northern and Central Europe
- VZ US : Geotab Buys Verizon Connect Telematics Unit in Europe, Australia
- ZG US : FTC Sues to Unwind Zillow-Redfin Rental Listing Partnership
- ZTS US : Zoetis Gets FDA Conditional Ok for New World Screwworm Treatment