📆 Wednesday, October 9
► European markets were mixed today following sharp losses in China and uncertainty surrounding U.S. economic data. The Stoxx 600 is flat, driven by cautious sentiment as traders await further clarity from Chinese authorities on stimulus measures. The CSI 300 Index plunged 7.1%, erasing its advance from Tuesday, when mainland markets reopened after the Golden Week holidays. Germany recorded a trade surplus of €22.50 billion in August, with exports rising 1.3% and imports down 3.4%.
► U.S. futures fell following reports that the U.S. Department of Justice is considering (or still considers) breaking up Google, raising concerns about an antitrust crackdown on Big Tech. We see the S&P 500 slipping 0.15% and Nasdaq 100 down 0.2% but already above earlier sharper losses. Nvidia shares helped Wall Street rebound earlier, but tech stocks still face pressure from a potential big tech antitrust crackdown. The 10-year Treasury yield stayed above 4.01%, reflecting ongoing uncertainty about the Federal Reserve’s interest-rate policy. Yields are slightly lower in pre-market trading (- 2bps for the US 10-Y). Investors are closely watching upcoming inflation data, including Thursday’s CPI report, which could influence future Fed rate decisions.
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