Macro update
Equities rise on renewed Fed-cut confidence:
Wall Street extended its rebound as markets maintained an 87% probability of a December Federal Reserve (Fed) rate cut, supporting tech stocks and broader risk sentiment.
Boeing jumps on stronger delivery forecast:
Boeing surged roughly 10% after projecting higher 737 and 787 deliveries for 2026, giving the Dow Jones its biggest lift and boosting industrials.
Tech leads as yields retreat:
Apple, Nvidia and Microsoft gained around 1%, helping the Nasdaq 100 outperform as the previous session’s spike in global bond yields eased.
Bitcoin steadies after sharp losses:
Crypto-related shares bounced back, with bitcoin reclaiming the $90,000.00 level and reversing part of Monday’s steep decline.
Europe firms as risk appetite improves:
European markets pointed to a stronger open, with investors awaiting comments from European Central Bank (ECB) President Lagarde and brushing off Monday’s brief risk-off move.
Asia tracks Wall Street gains:
Japanese technology stocks followed US strength, though banks and automakers lagged amid expectations of a Bank of Japan (BoJ) rate hike and renewed Japanese yen firmness.
S&P 500 rally loses upside momentum
Last week’s swift rally in the S&P 500 is beginning to lose upside momentum with further consolidation perhaps being in store.
A slip through Monday’s 6,800 low may lead to the 9 October high at 6,764 being revisited whereas a rise above Tuesday’s 6,851 high would likely put the 12 November peak at 6,870 on the map.
