Markets Overview

  • ASX SPI 200 futures down 0.1% to 8,263.00
  • Dow Average down 0.3% to 42,241.14
  • Aussie down 0.4% to 0.6555 per US$
  • US 10-year yield fell 1.6bps to 4.2661%
  • Australia 3-year bond yield fell 3 bps to 3.95%
  • Australia 10-year bond yield fell 3.5 bps to 4.45%
  • Gold spot up 1.1% to $2,772.67
  • Brent futures down 0.3% to $71.19/bbl

Economic Events

  • 11:30: (AU) Sept. CPI Trimmed Mean YoY, prior 3.4%
  • 11:30: (AU) 3Q CPI Trimmed Mean QoQ, est. 0.8%, prior 0.8%
  • 11:30: (AU) 3Q CPI Trimmed Mean YoY, est. 3.5%, prior 3.9%
  • 11:30: (AU) 3Q CPI Weighted Median QoQ, est. 0.8%, prior 0.8%
  • 11:30: (AU) 3Q CPI Weighted Median YoY, est. 3.6%, prior 4.1%
  • 11:30: (AU) 3Q CPI QoQ, est. 0.3%, prior 1.0%
  • 11:30: (AU) 3Q CPI YoY, est. 2.9%, prior 3.8%
  • 11:30: (AU) Sept. CPI YoY, est. 2.3%, prior 2.7%

A rally in some of the largest tech companies pushed stocks higher, with Alphabet Inc. rising in late hours as earnings beat estimates.

The Nasdaq Composite hit an all-time high, while the S&P 500 saw a mild gain. Between Tuesday and Thursday, big techs with a combined market value of more than $12 trillion report their quarterly results. Shares of Google’s parent climbed 3.5% after the close of regular trading. Advanced Micro Devices Inc. sank 6% amid a lackluster revenue forecast.

“Investors will need to see bigger revenue and earnings surprises for the group to outperform,” said Chris Senyek at Wolfe Research. “Our sense is a solid earnings season could once again put the group on a path to outperform into year-end.”

Just about a week away from the Federal Reserve decision, data showed US job openings fell to the lowest since early 2021. The figures run counter to the September employment report that pointed to a still-strong labor market, which prompted traders to trim bets on another big rate cut. A separate reading showed consumer confidence hit the highest since the start of the year.

The S&P 500 rose 0.2%. The Nasdaq 100 added 1%. The Dow Jones Industrial Average fell 0.4%. Bitcoin’s rally put the cryptocurrency on the verge of topping a record high of almost $74,000 reached in March. Treasury 10-year yields declined two basis points to 4.27%.