📆 Monday, September 30
► European stocks started the week on a negative note, with the Stoxx 600 down about 0.7%. The auto sector weighed heavily on the index as Stellantis dropped nearly 14% (!) after revising down its profit margin forecast. Aston Martin plunged 20% (!), while Volkswagen issued its second profit warning in three months, adding to the sector's woes. Volkswagen trades nearly 5% lower in Frankfurt. In contrast, mining stocks benefited from China’s economic stimulus, with Rio Tinto Group leading gains. Later in the week, investors will watch Eurozone inflation and manufacturing data closely for further market direction.
► US equity futures remained stable with narrow moves across the board, as investors brace for economic data such as the NFP report, due later this week, which will further shape expectations for future interest-rate cuts by the Federal Reserve. Corporate earnings in the US have provided a positive backdrop for markets, with solid results lifting sentiment. In addition, data on the US economy, including labor market data and inflation data in the previous week, were overall almost ideal for the markets and sentiment and did not diminish the (overly) optimistic expectations of rapid interest rate cuts.
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