- ASX SPI 200 futures down 0.2% to 6,634.00
- Dow Average up 0.2% to 29,284.33
- Aussie little changed at 0.6275 per US$
- U.S. 10-year yield fell 4.6bps to 3.9023%
- Australia 3-year bond yield fell 7.5 bps to 3.47%
- Australia 10-year bond yield fell 9.1 bps to 3.95%
- Gold spot up 0.5% to $1,673.85
- Brent futures down 1.9% to $92.47/bbl
- 10:30: (AU) Australia to Sell A$500 Million 105-Day Bills
- 10:30: (AU) Australia to Sell A$1 Billion 119-Day Bills
- 10:30: (AU) Australia to Sell A$500 Million 161-Day Bills
- 11:00: (AU) Oct. Consumer Inflation Expectation, prior 5.4%
US stocks fell with investors bracing for Thursday’s reading on consumer prices. Treasuries gained, while UK markets were roiled once again by confusion over the country’s policies.
The S&P 500 slipped into the red in the final minutes of trading, capping six days of losses to close at the lowest level since November 2020 and surpassing the previous low on Sept. 30. Equities faded a brief rally after minutes from the Federal Reserve’s last meeting suggested some officials may consider calibrating the pace of rate increases. The consumer price reading will be the last major data point before the central bankers meet next month.
Data Wednesday showed prices paid to US producers rose in September by more than expected ahead of a key measure of consumer inflation due Thursday that’s set to return to a four-decade high.
Elon Musk is promoting a new perfume, as the world’s richest man continues a track record of turning what ostensibly start out as jokes into sought-after products.
Musk announced the scent — called “Burnt Hair” and described as “the essence of repugnant desire” — in a tweet Tuesday, before changing his Twitter biography to “Perfume Salesman.” A separate product page posted by Boring Co., Musk’s tunneling company, listed the fragrance at $100 a pop, and Musk later tweeted that 10,000 bottles had been sold.
The billionaire had said in an earlier post in September that Boring Co. would launch a scent for men that will help them “stand out in a crowd.” He wrote Tuesday that getting into the fragrance business was inevitable given his last name, tweeting in jest: “Why did I even fight it for so long!?”
The Tesla Inc. chief executive officer has a history of launching products based on jokes that his massive fanbase has sought after as collectibles. A limited line of 20,000 flamethrowers sold by Boring Co. in 2018 to raise $10 million for its tunnel-building tests attracted huge interest. He has also used items to mock investors betting against the electric-vehicle maker, including a Tesla Tequila based on an April’s Fools’ Day gag and a pair of satin short shorts (priced at $69.420) to mark a victory over short sellers.
Musk has said that Boring Co. plans to make a functional so-called Hyperloop in the coming years — a tunnel-based, high-speed transportation system — although significant hurdles remain, including securing permits for projects and passing environmental studies.