#MarketSentimentToday The macro backdrop that matters more this week
Oil and Hormuz. Brent opened last week above $100 as more tankers were hit by missile and drone attacks in the Strait of Hormuz. Oil is feeding inflation worries and weighing on tech. A hawkish Fed. Markets priced about a 25% chance of an October Fed hike, with a full 25bp hike priced by December. CPI on Wednesday. September CPI lands Wednesday at 8:30am ET, with headline inflation forecast near 3.6%, and it’s the last reading before the Fed decides on October 28 Earnings kick off Tuesday. JPMorgan, Goldman Sachs, Wells Fargo, Citi, UnitedHealth and J&J report Tuesday, with TSMC on Thursday. FactSet expects Q3 S&P 500 earnings growth of 29.6% year over year.$NVDAB
What to watch today: whether tech stabilizes after two weak sessions, whether telecoms bounce or break lower, and whether oil moves on any weekend Gu
Oil and Hormuz. Brent opened last week above $100 as more tankers were hit by missile and drone attacks in the Strait of Hormuz. Oil is feeding inflation worries and weighing on tech. A hawkish Fed. Markets priced about a 25% chance of an October Fed hike, with a full 25bp hike priced by December. CPI on Wednesday. September CPI lands Wednesday at 8:30am ET, with headline inflation forecast near 3.6%, and it’s the last reading before the Fed decides on October 28 Earnings kick off Tuesday. JPMorgan, Goldman Sachs, Wells Fargo, Citi, UnitedHealth and J&J report Tuesday, with TSMC on Thursday. FactSet expects Q3 S&P 500 earnings growth of 29.6% year over year.$NVDAB
What to watch today: whether tech stabilizes after two weak sessions, whether telecoms bounce or break lower, and whether oil moves on any weekend Gu