GFS

Market Performance: The S&P 500 closed up by +0.11%, reaching a 3-week high, while the Dow and Nasdaq experienced slight declines due to rising bond yields and mixed corporate earnings reports.

Economic Indicators: Initial jobless claims fell to a 3-year low, indicating a stronger labor market, while factory orders rose by +0.2%, slightly below expectations.

Corporate Earnings: Q3 earnings season showed strong results, with 83% of S&P 500 companies exceeding forecasts, leading to a +14.6% increase in earnings, significantly above the expected +7.2%.

Interest Rates and Global Markets: Rising U.S. Treasury yields were influenced by expectations of a Bank of Japan rate hike, while European bond yields were mixed, reflecting varied economic conditions across regions.

Market Performance: Major U.S. stock indexes are experiencing slight declines due to rising bond yields, with the S&P 500 down by 0.06% and the Nasdaq 100 down by 0.38%. Positive corporate news from companies like Dollar General and Meta Platforms is providing some support.

Economic Indicators: Initial jobless claims fell to a three-year low, indicating a stronger labor market, while Challenger job cuts rose less than expected. Upcoming economic reports are anticipated to show modest increases in factory orders, personal spending, and income.

Interest Rates and Bonds: The 10-year T-note yield increased to 4.08%, influenced by expectations of a Bank of Japan interest rate hike and a stronger U.S. labor market. European bond yields are mixed, with the German bund reaching a two-month high.

Corporate Earnings: The Q3 earnings season is concluding with 83% of S&P 500 companies exceeding forecasts, marking the best quarter since 2021. Notable stock movements include significant gains for UiPath and Dollar General, while companies like Genesco and Snowflake reported disappointing results.

Market Performance: Major U.S. stock indexes, including the S&P 500, Dow Jones, and Nasdaq, experienced slight declines due to rising bond yields and mixed corporate earnings, with notable gains from Dollar General and Meta Platforms.

Economic Indicators: Initial jobless claims fell to a three-year low, indicating a stronger labor market, while Challenger job cuts rose less than expected, suggesting some resilience in employment despite economic pressures.

Interest Rates and Fed Policy: The market anticipates a 91% chance of a 25 basis point rate cut at the upcoming FOMC meeting, influenced by recent economic data and expectations of a potential interest rate hike by the Bank of Japan.

Corporate Earnings Highlights: Q3 earnings season showed strong performance, with 83% of S&P 500 companies exceeding forecasts, while several companies like Genesco and Kroger reported disappointing results, leading to significant stock declines.