U.S. Stocks | Morning Brief | October 8
All three major indexes fell last night. The S&P 500 pulled back from its highs after topping 7,800 for the first time; the Nasdaq fell 0.22% and the Dow dropped 0.66%. A rebound in Treasury yields, coupled with rising oil prices, weighed on risk sentiment. The VIX rose 4.6% to 15.78.
Futures remained under pressure premarket: Nasdaq futures fell 0.55%, S&P 500 futures dropped 0.4%, and Dow futures slid 0.84%. Investors moved into safe havens ahead of time, reflecting a cautious market stance toward tonight’s FOMC meeting minutes.
Key events tonight:
- 20:00 FOMC September meeting minutes (key focus: divisions within the Fed over the pace of rate cuts and internal debate over whether to cut rates by another 25 bps in October)
- 20:30 TSMC reports September monthly revenue
Stocks to watch: Nvidia has recently been trading around its 5-day moving average, while semiconductor ETF SOXX led losses, down 1.1%. Watch premarket to see whether Nvidia can hold support at 237. Apple rose 0.9% against the trend to a recent high; after the close, watch for reactions across its services business. MSTR plunged 6.8% and COIN fell 3.9%, putting the broader group of BTC-linked assets under pressure.
IBIT (spot BTC ETF) fell 2.64% yesterday to close at $47.21, down 1.6% over the past five days. BTC is currently around $82,400, down 1.5% over 24 hours. If tonight’s FOMC minutes strike a hawkish tone, BTC could test the $80,000 level in the short term. If they include dovish language on progress against inflation, alongside rising expectations for an October rate cut, that could help BTC rebound and challenge its previous high. Keep a close eye on Treasury yields and the U.S. dollar index tonight.
A beginner’s guide: FOMC meeting minutes are not voting documents; they record the committee members’ discussions and points of disagreement. The market’s reading of the subtext can often matter more for trading than the rate decision itself. That’s why volatility is typically elevated on minutes-release days, so be sure to manage position sizes.
$NVDA $AAPL $IBIT
All three major indexes fell last night. The S&P 500 pulled back from its highs after topping 7,800 for the first time; the Nasdaq fell 0.22% and the Dow dropped 0.66%. A rebound in Treasury yields, coupled with rising oil prices, weighed on risk sentiment. The VIX rose 4.6% to 15.78.
Futures remained under pressure premarket: Nasdaq futures fell 0.55%, S&P 500 futures dropped 0.4%, and Dow futures slid 0.84%. Investors moved into safe havens ahead of time, reflecting a cautious market stance toward tonight’s FOMC meeting minutes.
Key events tonight:
- 20:00 FOMC September meeting minutes (key focus: divisions within the Fed over the pace of rate cuts and internal debate over whether to cut rates by another 25 bps in October)
- 20:30 TSMC reports September monthly revenue
Stocks to watch: Nvidia has recently been trading around its 5-day moving average, while semiconductor ETF SOXX led losses, down 1.1%. Watch premarket to see whether Nvidia can hold support at 237. Apple rose 0.9% against the trend to a recent high; after the close, watch for reactions across its services business. MSTR plunged 6.8% and COIN fell 3.9%, putting the broader group of BTC-linked assets under pressure.
IBIT (spot BTC ETF) fell 2.64% yesterday to close at $47.21, down 1.6% over the past five days. BTC is currently around $82,400, down 1.5% over 24 hours. If tonight’s FOMC minutes strike a hawkish tone, BTC could test the $80,000 level in the short term. If they include dovish language on progress against inflation, alongside rising expectations for an October rate cut, that could help BTC rebound and challenge its previous high. Keep a close eye on Treasury yields and the U.S. dollar index tonight.
A beginner’s guide: FOMC meeting minutes are not voting documents; they record the committee members’ discussions and points of disagreement. The market’s reading of the subtext can often matter more for trading than the rate decision itself. That’s why volatility is typically elevated on minutes-release days, so be sure to manage position sizes.
$NVDA $AAPL $IBIT