ADDX Go Market Morning Wrap - 17th Oct

Market Key Focus

US Market

- Markets

The S&P 500 closed up 27.21 points, or 0.47%, at 5,842.47.

The Dow Jones Industrial Average, which is closely related to the economic cycle, closed up 337.28 points, or 0.79%, at 43,077.70.

The Nasdaq, which is dominated by technology stocks, closed up 51.49 points, or 0.28%, at 18,367.08. The Nasdaq 100 closed up 0.07%. The Nasdaq Technology Market Capitalization Weighted Index (NDXTMC), which measures the performance of the Nasdaq 100 technology industry components, closed down 0.09%.

The Russell 2000 small-cap index, which is more sensitive to the economic cycle, closed up 1.64%. The VIX index of fear closed down 5.14% at 19.58

- Stocks

Russell Small Cap Index closed up 1.64%, leading the gains. Investors withdrew from mega-cap stocks, and the rotation helped small-cap stocks rise to a three-year high.

The Dow Jones hit a new high, ASML was worried about the continued impact, and the Nasdaq closed up 0.28%, ranking behind. Boosted by Morgan Stanley's strong performance, the financial sector performed well, with only the telecommunications and consumer goods sectors falling.

Amazon signed a power purchase agreement with a nuclear power company, and US nuclear power concept stocks generally rose sharply

- Treasury

Expectations of interest rate cuts by major central banks around the world have increased, and bond yields in Europe and the United States have fallen. The yield on the benchmark 10-year U.S. Treasury bond fell below 4% to its lowest level in a week and a half.

At the end of the trading day, the yield on the two-year U.S. Treasury bond, which is more sensitive to monetary policy, fell 0.79 basis points to 3.9376%

- FX

The rekindled "Trump deal" pushed the dollar index up more than 0.2% to a ten-week high.

Asian Market

- Markets

The Nikkei 225 index closed down 1.8% at 39,180.3 points. Japan's Topix index closed down 1.2%. South Korea's Kospi fell 0.7%, and India's stock index fell about 0.3%

- Stocks

Chip technology stocks led the decline, with Tokyo Electron falling more than 9%, SK Hynix and Samsung Electronics falling more than 2%

European Market

- Markets

The European STOXX 600 index closed down 0.19% at 519.60 points.

The Eurozone STOXX 50 index closed down 0.77%.

The German DAX 30 index closed down 0.27%. The French CAC 40 index closed down 0.40%. The Italian FTSE MIB index closed up 0.24%.

The British FTSE 100 index closed up 0.97%.

The Dutch AEX index closed down 0.74%.

The Spanish IBEX 35 index closed up 0.56%

- Treasury

The cooling of inflation in the UK has opened up room for interest rate cuts, causing the yield on two-year British bonds to fall by more than 11 basis points.

The yield on the 10-year German bond fell by 3.8 basis points to 2.184%.

The yield on two-year German bonds fell by 4.2 basis points.

The yield on the 10-year British government bond fell by 9.7 basis points.

The yield on the 10-year French government bond fell by 3.5 basis points, and the yield on the 10-year Italian government bond fell by 5.1 basis points

Crypto Market

1. Bitcoin once reached $69,000 during the session, at $67,870.00
2. The second largest Ethereum rose 1.78% to $2,629.00 in late trading
3. The issuer of the Trump-supported token WLFI failed to achieve its financing target
   

Macro

1. Concerns about oil supply disruptions in the Middle East have eased, and oil prices have continued to fall, giving up most of the gains made after Iran launched a ballistic missile towards Israel on October 1. U.S. oil fell below $71, and Brent oil fell to $74. U.S. oil once fell by more than 1% and briefly fell below $70 again, and the closing decline narrowed significantly
2. Stanley Druckenmiller, chairman and CEO of Duquesne Family Office, said that if Trump returns to the White House, the Federal Reserve may become more hawkish. (Rumor has it that Trump's team is brewing) The shadow Federal Reserve is a "terrifying idea."
3. Peter A. Grant, vice president and senior metals strategist at Zaner Metals, said that expectations for a 25 basis point rate cut by the Federal Reserve in November have increased. At the same time, inflation data in Europe and the United Kingdom have weakened. The market has increased its bets on interest rate cuts by the European Central Bank and the Bank of England, resulting in a general decline in yields in Europe and the United States, supporting higher gold prices. The price of gold may rise to nearly $3,000 in the first quarter of next year

Earnings For Today

Before Open

- TSM

EPS forecast 1.79

Revenue forecast 23.3B

- Blackstone

EPS forecast 0.9758

Revenue forecast 2.68B

- Elevance Health

EPS forecast 9.66

Revenue forecast 43.46B

After Close

- Netflix

EPS forecast 5.09

Revenue forecast 9.77B

Market Events

Stocks to Focus

1. Bloomberg reported, citing people familiar with the matter, that as part of its electric vehicle project, Apple began working with BYD around 2017 to develop long-range electric vehicle batteries. This research and development laid the foundation for the technology of the batteries currently used in BYD cars
2. Intel opened down nearly 2%. The China Cyberspace Security Association issued a document, suggesting that a systematic investigation of Intel product cybersecurity risks be conducted