A · Important
[Overview of U.S. stock market pre-market news: France proposed coordinated release of reserves, international oil prices fell sharply; the market awaited the U.S. non-agricultural report, and U.S. stock futures rose] On October 2, the financial news of the U.S. stock market that investors need to focus on is as follows:
1. At 8:30 EST, the United States will release the non-farm employment report for September. Economists expect non-farm employment to increase by 90,000, with the growth momentum slowing down significantly compared to August.
2. France proposes that European countries and members of the International Energy Agency release 100 million barrels of diesel and crude oil reserves. President Macron plans to convene a meeting of G7 leaders as soon as possible.
3. International oil prices have fallen sharply. As of now, WTI crude oil futures have dropped 3.18% to US$89.9 per barrel.
4. After a week of violent movements in bond yields, the U.S. Treasury market overall stabilized on Friday. As of now, the U.S. 10-year Treasury bond yield fell 1 basis point to 5.224, and the U.S. 30-year Treasury bond yield fell 0.8 basis points to 5.596.
5. U.S. stock futures are rising before the market opens. As of now, Nasdaq 100 futures are up 0.62%, Dow futures are up 0.41%, and S&P 500 futures are up 0.4%.
6. Europe's major stock indexes rose, with the European Stoxx 50 index rising 0.52%, France's CAC40 index rising 0.38, and Germany's DAX index rising 0.9%.
7. Eurostat data shows that the consumer price index rose by 3.8% year-on-year in September, higher than the 3.2% in the previous month, hitting the highest level since September 2023.
8. The mechanical hard drive duo in the U.S. stock market have plunged before the opening. So far, Seagate Technology has fallen 10.9% before the opening, and Western Digital has fallen 8% before the opening. It is reported that Toshiba will invest 60 billion yen to double HDD supply.
9. Nike fell 8% before the market opened. The company had previously forecast that full-year revenue would decline and first-quarter sales were lower than market expectations.
10. According to documents submitted on Friday, SK Group Chairman Choi Tae-won will sell 2.26% of SK Corp's shares for approximately 944 billion won (approximately US$699.5 million). The transaction is expected to be completed on November 2.
11. An EU spokesperson stated that the EU completely rejects any ban on diesel exports and that the ban "does no good to anyone." Any releases are organized by the International Energy Agency. The next Petroleum Coordination Group meeting will be on October 15, and we are prepared to convene it earlier if necessary.
12. Broadcom launched a $60 billion financing, which is reported to be intended to provide funds for companies such as Anthropic to purchase chips.
13. Amazon reportedly plans to move $8 billion of Nvidia chips off its balance sheet. The arrangement will transfer thousands of Grace Blackwell chips distributed in more than a dozen data centers in the United States into a special purpose vehicle (SPV) funded by external investors.
14. France’s political and fiscal challenges have shaken investor confidence. Its national debt has suffered its worst quarterly performance since the advent of the euro, and the bond risk premium has risen to 150 basis points for the first time since 2012.
Comments