The S&P 500 Index ($SPX) (SPY) right this moment is down -0.66%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.59%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.62%.
After beginning the day greater, inventory indexes have turned decrease and all 3 indexes are purple.
Taiwan Semiconductor Manufacturing Co., the world’s most superior semiconductor producer and chipmaker for Apple and Nvidia, raised its projections for 2025 income development for the second time this 12 months. After setting a brand new file excessive early within the session, TSM reversed good points and is buying and selling decrease.
At the moment’s US financial information was combined for shares. On the constructive facet, the Oct NAHB housing market index rose +5 to a 6-month excessive of 37, stronger than expectations of 33. Conversely, the Oct Philadelphia Fed enterprise outlook survey fell -36.0 to a 6-month low of -12.8, weaker than expectations of 10.0.
The escalation of commerce tensions between the US and China, together with the continued US authorities shutdown, has sparked a shopping for spree in treasured metals as a haven, with gold and silver reaching recent all-time highs right this moment.
The shutdown of the US authorities continues, weighing on market sentiment and delaying key financial studies. The federal government shutdown means delays within the launch of presidency studies, together with the final three weeks of weekly preliminary unemployment claims, the Aug US commerce report, and the Sep payroll report. Final Friday, the Bureau of Labor Statistics (BLS) stated the September client worth report, which was initially scheduled to be launched on Wednesday, will likely be launched on October 24. The White Home has warned that if the federal government shutdown lingers, it could set off widespread dismissals of staff in authorities packages that don’t align with President Trump’s priorities. Bloomberg Economics estimates that 640,000 federal staff will likely be furloughed through the shutdown, which might increase jobless claims and push the unemployment price as much as 4.7%.
The markets this week will deal with earnings outcomes because the Q3 earnings season begins. Rising company earnings expectations are a bullish backdrop for shares. In line with Bloomberg Intelligence, 78% of the S&P 500 firms which have reported up to now have overwhelmed forecasts. Additionally, greater than 22% of firms within the S&P 500 that supplied steering for his or her Q3 earnings outcomes are anticipated to beat analysts’ expectations, the very best in a 12 months. Nonetheless, Q3 income are anticipated to have risen by +7.2% y/y, the smallest improve in two years. Additionally, Q3 gross sales development is projected to gradual to +5.9% y/y from 6.4% in Q2.
The markets are pricing in a 97% likelihood of a -25 bp price lower on the subsequent FOMC assembly on Oct 28-29.
Abroad inventory markets are greater right this moment. The Euro Stoxx 50 is up +0.59%. China’s Shanghai Composite closed up +0.10%. Japan’s Nikkei Inventory 225 closed up +1.27%.
Curiosity Charges
December 10-year T-notes (ZNZ5) right this moment are down -2 ticks. The ten-year T-note yield is up +1.5 bp to 4.044%. T-notes gave up an early advance right this moment and turned barely decrease after a rally in shares curbed safe-haven demand for presidency debt securities. T-notes remained decrease after right this moment’s information confirmed the Oct NAHB housing market index rose greater than anticipated to a 6-month excessive.
T-notes initially moved greater right this moment on dovish feedback from the Fed. Fed Governor Christopher Waller stated the Fed can proceed to decrease rates of interest to help a faltering labor market, and Richmond Fed President Tom Barkin said that US productiveness development seems to be bettering “considerably.” T-notes additionally discovered help after the Oct Philadelphia Fed enterprise outlook survey fell greater than anticipated to a 6-month low.
T-notes even have help from the continued US authorities shutdown, which may result in extra job losses, lowered client spending, and a weakened US financial system, probably permitting the Fed to proceed slicing rates of interest.
European authorities bond yields are combined right this moment. The ten-year German bund yield is up +1.2 bp at 2.583%. The ten-year UK gilt yield dropped to a 2.25-month low of 4.512% and is down -2.2 bp to 4.521%.
UK Aug manufacturing manufacturing rose +0.7% m/m, stronger than expectations of +0.2% m/m
ECB Governing Council member Wunsch stated, “I’d say that the likelihood that the ECB cuts rates of interest once more has been receding over the previous few weeks or months.”
Swaps are discounting a 2% likelihood for a -25 bp price lower by the ECB at its subsequent coverage assembly on October 30.
US Inventory Movers
Most Magnificent Seven know-how shares are shifting greater right this moment, offering help to the broader market. Amazon.com (AMZN), Nvidia (NVDA), and Alphabet (GOOGL) are buying and selling barely greater right this moment. Tesla (TSLA) is down -1.4%, Meta Platforms (META) is down -.83%, and
Microsoft (MSFT) is down -0.48%.
Gold mining shares are shifting greater right this moment after the worth of COMEX gold climbed to a brand new file excessive. Because of this, Kinross Gold (KGC), Barrick Mining (B), Newmont (NEM), Gold Fields Ltd (GFI), and Anglogold Ashanti Plc (AU) are up greater than +2%.
Praxis Precision Medicines (PRAX) is up greater than +200% after two research in its Part 3 Essential3 program of ulixacaltamide to deal with tremors met their main endpoints.
JB Hunt Transport Providers (JBHT) is up greater than +18% to steer gainers within the S&P 500 after reporting Q3 income of $3.05 billion, stronger than the consensus of $3.02 billion.
Salesforce (CRM) is up greater than +4% to steer gainers within the Dow Jones Industrials after projecting income development will speed up to double digits within the coming years, and introduced it would buy an extra $7 billion of shares within the subsequent six months.
Snap-on Inc (SNA) is up greater than +3% after reporting Q3 EPS of $5.02, stronger than the consensus of $4.64.
DoorDash (DASH) is down -0.61% after the corporate entered right into a partnership with Waymo to make deliveries within the Phoenix space with Waymo’s autonomous automobiles.
US Bancorp (USB) is up 0.20% after reporting Q3 web curiosity revenue of $4.25 billion, above the consensus of $4.17 billion.
Snowflake (SNOW) is down greater than -1% after it introduced a partnership with Palantir Applied sciences to combine Snowflake’s AI Information Cloud with Palantir Foundry and Palantir Synthetic Intelligence Platform.
Hewlett Packard Enterprise (HPE) is down greater than -11% to steer losers within the S&P 500 after projecting 2026 earnings of $2.20 to $2.40 a share, weaker than the consensus of $2.41.
F5 Inc (FFIV) is down greater than -12%, including to Wednesday’s -3% loss, after a probably “catastrophic” breach of the cybersecurity supplier blamed on state-backed hackers from China, with the hackers gaining “long-term, persistent entry” to sure techniques and stealing information, together with supply code.
Marsh & McLennan Cos (MMC) is down greater than -6% after reporting Q3 adjusted working margin of twenty-two.7%, under the consensus of twenty-two.9%.
Zions Bancorp (ZION) is down greater than -9% after saying it would file a $60 million provision and charge-off of $50 million after authorized motion was initiated by banks and different lenders associated to 2 business and industrial loans prolonged by a financial institution division.
Verisk Analytics (VRSK) is down greater than -4% to steer losers within the Nasdaq 100 after Rothschild & Co Redburn downgraded the inventory to promote from impartial with a worth goal of $220.
Vacationers Cos (TRV) is down greater than -3% to steer losers within the Dow Jones Industrials after reporting Q3 web premiums written of $11.47 billion, under the consensus of $11.84 billion.
Lululemon Athletica (LULU) is down greater than -1% after Bernstein downgraded the inventory to market carry out from outperform.
Earnings Stories(10/16/2025)
Financial institution of New York Mellon Corp/The (BK), Financial institution OZK (OZK), Charles Schwab Corp/The (SCHW), Commerce Bancshares Inc/MO (CBSH), CSX Corp (CSX), FNB Corp/PA (FNB), Interactive Brokers Group Inc (IBKR), KeyCorp (KEY), M&T Financial institution Corp (MTB), ManpowerGroup Inc (MAN), Marsh & McLennan Cos Inc (MMC), Snap-on Inc (SNA), Vacationers Cos Inc/The (TRV), US Bancorp (USB).
On the date of publication, Wealthy Asplund didn’t have (both immediately or not directly) positions in any of the securities talked about on this article. All info and information on this article is solely for informational functions. This text was initially revealed on Barchart.com
