US EQUITY OPEN: Stocks open in the green with tech buoyed by strong Accenture (ACN) earnings; eyes turn to ISM Manufacturing PMI
US ISM Manufacturing Employment (Sep) 52.7 (prev. 51.2)
British Ambassador summoned to Iran's foreign ministry over claims Iran is linked to the Farford military base incident
US EQUITY OPEN: Stocks open in the green with tech buoyed by strong Accenture (ACN) earnings; eyes turn to ISM Manufacturing PMI
US S&P Global Manufacturing PMI Final (Sep) 55.9 vs Exp. 57.0 (prev. 53.9)
Treasury Block Trades [Rolling headline, 1st October 2026]
On the Newsquawk feed at , 20 minutes before this page.
OPEN: Stocks opened in the green on Thursday, with the Dow outperforming while the Russell is flat. The equal-weight S&P is posting marginal gains, while sectors are mixed. Technology, Communication Services and Consumer Discretionary outperform, while Materials, Real Estate and Utilities lag. Tech is supported by software names, with Accenture (ACN) rallying after earnings and Synopsys (SNPS) gaining after raising guidance. Accenture's results are also providing a boost to IBM, helping explain the Dow outperformance.
The Treasury curve is steepening, with long-end yields rising while the front end is more anchored; the 30yr yield is around 5.675%, while the 2yr is actually lower on the day. Attention now turns to ISM Manufacturing PMI at the top of the hour alongside commentary from Fed's Waller. There have also been several Fed speakers, although little incremental has been said. The final S&P Global Manufacturing PMI was revised slightly lower but remained at its highest since May 2022.
In FX, the Yen underperforms following a weak Tankan survey overnight, while some have also highlighted that the BoJ Summary of Opinions was not as hawkish as markets expected. The Euro is lower, while the Swiss Franc and Aussie outperform.
Energy prices are higher, with Brent notably outperforming WTI, while diesel futures are lower. Reports suggest the EU is seeking to form a unified position on releasing diesel reserves, with the US calling on the bloc to release stocks. Meanwhile, Chinese refiners have reportedly suspended fuel-product exports beyond Hong Kong and Macau, according to Reuters.
STOCK SPECIFICS
- Micron Technology (MU): Choppy post-earnings; as expected, strong quarterly results and guidance underscored robust AI-driven memory demand, although next-quarter gross margin guidance missed
- Synopsys (SNPS): Lifts FY27 outlook
- Alphabet (GOOGL): Unveiled Gemini 4 Argon
- Constellation Energy (CEG): Amazon announces 20-year power purchase agreement
- McCormick & Company (MKC): EPS and revenue beat
- Accenture (ACN): Top and bottom line surpassed expectations, with stellar FY profit outlook
Context
Wraps of this kind capture a market in suspension rather than in motion: equity strength built on a single consulting name and its read-across to legacy tech peers is the kind of narrow leadership that has historically been tested the moment a tier one macro print lands, since consultancies are read as a proxy for corporate spending intentions and their results tend to colour the whole IT services complex before the data either confirms or contradicts. The more telling feature is the curve: long-end yields rising while the front end sits anchored is a steepening driven by term premium rather than policy repricing, and in past episodes that configuration has framed the day's data as a level-setter for the back end rather than the front. The ISM print landing within the hour, alongside a named Fed official with a known dovish lean, concentrates risk in a way open-market colour usually does not; the usual sequence is an initial rates-led response with equities following the duration signal, particularly in the high-multiple cohort that is leading here. The currency detail carries its own thread: yen softness on a weak survey and a less hawkish central bank summary fits the established pattern of positioning unwound when event risk disappoints. On commodities, the Brent-WTI divergence alongside reports of suspended product exports from Chinese refiners points to a products and freight story rather than a crude one, a distinction that has historically mattered for how sustained such moves prove.
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