☀️ Uncle’s Morning Briefing | 10.15: CPI tops expectations, Nasdaq falls 1.88%
🇺🇸 U.S. stocks pull back overnight
Dow -0.09%, S&P 500 -1.11%, Nasdaq -1.88%. The Philadelphia Semiconductor Index fell about 4.30%, marking its sixth consecutive session of losses.
U.S. CPI rose 3.7% year over year in September, while core CPI rose 2.6%; both came in above expectations. Inflation pressures and uncertainty over the path of interest rates continue to weigh on tech valuations.
🪙 BTC
BTC pulled back to around $81,700. In the short term, watch for support around 80K; if that level breaks, look to the next support levels. Don’t judge the trend based solely on a single day’s decline.
🇨🇳 A-shares and Hong Kong stocks
In the previous session, the Shanghai Composite fell 0.88% and the ChiNext Index dropped 3.10%. Today, watch for support around 3,760 on the Shanghai Composite.
The Hang Seng Index edged lower in the previous session, while the Hang Seng Tech Index rose 0.91%. Weakness in U.S. tech stocks overnight could weigh on sentiment.
🛢️ Oil prices and today’s key events
Brent crude settled at $106.06, and WTI at $95.09. Today at 8:30 p.m. Beijing time, watch for U.S. PPI, retail sales, and initial jobless claims data.
💡 Uncle’s take
After CPI came in above expectations, the market is reassessing inflation, interest rates, and tech valuations. There’s no need to rush into buying the dip or blindly bet on further declines. For BTC, watch 80K; for A-shares, watch 3,760. Wait for clearer signs that tech stocks have bottomed.
⚠️ Personal observations, not investment advice.
$BTC $ETH $NVDA #cpi #Bitcoin
🇺🇸 U.S. stocks pull back overnight
Dow -0.09%, S&P 500 -1.11%, Nasdaq -1.88%. The Philadelphia Semiconductor Index fell about 4.30%, marking its sixth consecutive session of losses.
U.S. CPI rose 3.7% year over year in September, while core CPI rose 2.6%; both came in above expectations. Inflation pressures and uncertainty over the path of interest rates continue to weigh on tech valuations.
🪙 BTC
BTC pulled back to around $81,700. In the short term, watch for support around 80K; if that level breaks, look to the next support levels. Don’t judge the trend based solely on a single day’s decline.
🇨🇳 A-shares and Hong Kong stocks
In the previous session, the Shanghai Composite fell 0.88% and the ChiNext Index dropped 3.10%. Today, watch for support around 3,760 on the Shanghai Composite.
The Hang Seng Index edged lower in the previous session, while the Hang Seng Tech Index rose 0.91%. Weakness in U.S. tech stocks overnight could weigh on sentiment.
🛢️ Oil prices and today’s key events
Brent crude settled at $106.06, and WTI at $95.09. Today at 8:30 p.m. Beijing time, watch for U.S. PPI, retail sales, and initial jobless claims data.
💡 Uncle’s take
After CPI came in above expectations, the market is reassessing inflation, interest rates, and tech valuations. There’s no need to rush into buying the dip or blindly bet on further declines. For BTC, watch 80K; for A-shares, watch 3,760. Wait for clearer signs that tech stocks have bottomed.
⚠️ Personal observations, not investment advice.
$BTC $ETH $NVDA #cpi #Bitcoin