📆 Tuesday, October 1
► European stocks are little changed on Tuesday following a negative session. Spain's Manufacturing PMI rose to 53 in September, reflecting solid gains in output and new orders. However, Germany's Manufacturing PMI dropped to 40.6, marking a 12-month low, and the broader Eurozone saw a decline to 45, the lowest level this year showing that economic weakness persists. While Spain shows resilience, continued industrial slumps in Germany and France weigh heavily on the Eurozone's overall performance.
► U.S. markets are showing mixed signals as futures indicated a muted open following Monday’s gains. The S&P 500 secured its fourth consecutive quarter of advances, while the tech-heavy Nasdaq 100 followed suit. Investors are digesting Federal Reserve Chair Jerome Powell’s remarks on potential rate cuts, while keeping a close watch on upcoming data like the JOLTS report and ISM PMIs. Powell said the US central bank will lower interest rates “over time,” while re-emphasizing that the overall economy remains on solid footing. The International Longshoremen’s Association strike, affecting ports from Maine to Texas, may disrupt significant trade volumes, impacting up to 50% of U.S. trade volumes.
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