US EQUITY OPEN: Stocks open in the green as tech rebounds although the equal weight S&P falls slightly
Every headline is on the live feed 20 minutes before this site.
US Richmond Fed Manufacturing Shipments Index (Aug) 11 (Prev. 8)
US Richmond Fed Services Revenues Index (Aug) -8 (Prev. -3)
US EQUITY OPEN: Stocks open in the green as tech rebounds although the equal weight S&P falls slightly
US President Trump says Canada has been ripping off the US for decades; Canada is easily the most difficult and unreasonable country to deal with
US President Trump reiterates he has instructed War Secretary Hegseth to substantially reduce joint military exercises with South Korea, based on his very good relationship with North Korea's Kim Jong Un
On the Newsquawk feed at , 20 minutes before this page.
US EQUITY OPEN: Stocks have opened higher on Tuesday, with the Nasdaq outperforming amid a rebound in tech shares following Monday's slump, as semiconductor and memory names recover. The equal-weight S&P 500 is slightly lower, indicating marginal negative underlying breadth, while sectors are mixed. Technology, Industrials and Communication Services outperform, while Energy, Consumer Staples and Materials lag. Weakness in Consumer Staples is led by Dick's (DKS), which cut guidance amid challenging athletic footwear and apparel markets, also weighing on peers including Nike (NKE), Lululemon (LULU) and On Holding (ONON).
Energy stocks are tracking crude prices lower amid renewed US-Iran optimism. The NYT reported that the US is considering returning diplomats to Middle Eastern embassies as soon as this week, suggesting the Trump administration does not anticipate an imminent return to all-out hostilities. Meanwhile, Saudi Press reported that Pakistan Army Chief Munir conveyed a US offer to Iran to halt the siege and lift sanctions under the MoU in exchange for reopening the Strait of Hormuz and ending proxy attacks.
Treasury yields are lower across the curve, with the decline in oil prices helping support Treasuries. The richening is also worth watching ahead of today's USD 69bln 2-year auction, as the lower outright yield on offer could weigh on demand, although the recent curve flattening has improved the relative-value proposition for the front end by reducing the yield pickup available from extending duration.
In FX, currencies are little changed, with the Dollar flat, the Yen marginally softer and cyclical currencies seeing modest gains, excluding CAD amid weaker oil prices and ongoing trade tensions with the US. Gold is giving back some of its recent gains despite the lower-yield environment.
STOCK SPECIFICS
- Alibaba Group (BABA): Jack Ma buys HKD 600mln of Alibaba shares
- DICK'S Sporting Goods (DKS): Dismal report; quarterly metrics missed and cut guidance due to weakness in footwear and athletic apparel; in sympathy, Nike and Lululemon also lower
- Tesla (TSLA): Raised the price of its Cybertruck dual-motor and premium all-wheel-drive variants by USD 5,000 each in the US
- United Airlines (UAL): Announces largest international network expansion in company history, with 10 new international cities and three new routes across Europe and Asia
- Advanced Micro Devices (AMD): Upgraded at Raymond James to 'Strong Buy' from 'Outperform' as it expects AMD will overtake Intel in the CPU market.
Context
Sessions of this shape, a headline index rebound led by the prior day's losers while equal weight lags, have tended to mark mean reversion in crowded positioning rather than a broad risk turn; the gap between cap-weighted and equal-weighted performance is the tell, and narrow tech-led recoveries after single-session slumps have historically proven fragile when breadth fails to confirm. The oil decline on reported US-Iran diplomatic movement follows the familiar pattern in which geopolitical risk premia in crude are added and stripped on headlines rather than on supply flows, with the energy sector and CAD the usual transmission points and the front end of the Treasury curve supported via the inflation-expectations channel. The 2-year auction framing matters because richening into a supply event has tended to produce concession-driven tails more often than strong stops when the outright yield is the draw, though curve flattening improving relative value is the countervailing factor named in the note itself. The consumer discretionary weakness is idiosyncratic, a guidance cut propagating to peers in the same footwear and apparel complex, a sympathy pattern that typically fades within sessions unless the read-across is confirmed by the peers' own prints. The worth-watching follow-ons are the auction result, any confirmation or denial of the diplomatic reports, and whether equal weight closes the gap with the cap-weighted index or the divergence widens into the close.
Related headlines
- Preview: US to sell USD 58bln of 3-year notes on Oct 6th, USD 39bln of 10yr notes on Oct 7th, and USD 22bln of 30-year bonds on Oct 8th; all to settle on October 15th1 hour ago
- European Market Wrap - 6th October 20263 hours ago
- US President Trump says his rallies are saving the Republican Party, again3 hours ago
- The Russian Defense Ministry reported a strike on a fuel tanker in the Ukrainian port of Yuzhny, reports Interfax1 hour ago
- Saudi Arabia's East-West pipeline sustained damage to three of the 11 pumping stations, but the pipeline itself was not damaged, Argus reports citing sources4 hours ago
- Kremlin says Iranian President will take part in Russia-led Summit of ex-soviet leaders in Turkmenistan on Friday, and will meet Putin; trilateral meeting of Putin, Trump and Xi at APEC Summit in China in November is an interesting idea1 hour ago
- US EQUITY OPEN: Stocks rally at the open as yields and energy prices tick lower3 hours ago
- China and EU trade officials reportedly held a preparatory video meeeting today1 hour ago
- BoJ board member Sato supports continuing interest rate hikes, but did not specify a timing, citing concerns about weakening personal consumption, reports Kyodo2 hours ago
- IEA is expected to decide details of the G7 diesel and oil stock release at the Board meeting on October 14-15th, according to sources4 hours ago
- Applied Materials (AMAT) and Intel (INTC) to co-develop AI chip tech4 hours ago
- China House Panel moolenaar seeks review of Hong Kong Fed liquidity tool access26 min ago
- Fed's Daly tells Axios some companies are preparing for an AI-fueled chip squeeze that could push up prices far beyond the data center boom alone1 hour ago
- Fed Vice Chair of Supervision Bowman says they are aiming for early next year as a start for a new oversight system2 hours ago
- Atlanta Fed GDPNow tracker (Q3): 3.7% (prev. 3.8%)2 hours ago
- Nvidia (NVDA)-backed cloud-computing company Lambda is raising up to USD 4bln at a pre-money valuation of USD 14.5bln in a final round of fundraising before the company's planned IPO, according to WSJ citing sources48 min ago
- Marvel (MRVL) says that data center has expanded from less than 10% of revenue when the strategy was established in 2017; this reflects the co's deliberate shift away from its former consumer-electronics concentration4 hours ago
- McDonald's (MCD) franchisees reportedly balk at the USD 800k bill to overhaul stores and worry about cost, details of "next plan"; has delayed franchisee tours of restaurant prototype, reports Bloomberg2 hours ago
- DeepSeek considers doubling latest funding round to up to USD 15bln, reports CNBC citing sources4 hours ago
- US sells USD 58bln of 3-year notes; stop-through 0.2bps33 min ago
The feed had this first.
Use the Platform