The S&P 500 Index ($SPX) (SPY) as we speak is down -0.03%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.02%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.12%. December E-mini S&P futures (ESZ25) are down -0.05%, and December E-mini Nasdaq futures (NQZ25) are down -0.13%.
Inventory indexes fell again from their greatest ranges as we speak and turned combined as bond yields rose. The ten-year T-note yield rose +2 foundation factors to 4.13% after US Aug new dwelling gross sales unexpectedly jumped to a 3.5-year excessive.
The power of chip makers as we speak is a supportive issue for shares. Additionally, as we speak’s +1% improve in WTI crude oil is pushing power producers increased. As well as, AI optimism is lifting know-how shares after China’s Alibaba introduced plans to extend its AI spending past an preliminary $50 billion goal.
US MBA mortgage functions rose +0.6% within the week ended September 19, with the acquisition mortgage sub-index up +0.3% and the refinancing mortgage sub-index up +0.8%. The common 30-year fixed-rate mortgage fell -5 bp to six.34% from 6.39% within the prior week.
US Aug new dwelling gross sales unexpectedly jumped +20.5% m/m to a 3.5-year excessive of 800,000, versus expectations of a decline to 650,000.
Rising company earnings expectations are a bullish backdrop for shares. Based on Bloomberg Intelligence, greater than 22% of corporations within the S&P 500 offered steering for his or her Q3 earnings outcomes which might be anticipated to beat analysts’ expectations, the best in a 12 months. Additionally, S&P corporations are anticipated to publish +6.9% earnings progress in Q3, up from +6.7% as of the top of Could.
The markets this week will concentrate on any recent commerce or tariff information. On Thursday, weekly preliminary unemployment claims are anticipated to extend by +2,000 to 233,000. Additionally, Aug core (ex-defense and plane) capital items new orders are anticipated to slide -0.1% m/m. As well as, Q2 GDP is predicted to be unrevised at +3.3% (q/q annualized). Lastly, Aug present dwelling gross sales are anticipated to fall -1.3% m/m to three.96 million. On Friday, Aug private spending is predicted to be up by +0.5% m/m and Aug private revenue is predicted to be up by +0.3% m/m. Additionally, the Aug core PCE value index, the Fed’s most well-liked inflation gauge, is predicted to rise by +0.2% m/m and +2.9% y/y. Lastly, the College of Michigan’s Sep US shopper sentiment index is predicted to stay unchanged at 55.4.
The markets are pricing in a 92% probability of a -25 bp fee reduce on the subsequent FOMC assembly on Oct 28-29.
Abroad inventory markets as we speak are increased. The Euro Stoxx 50 is up by +0.06%. China’s Shanghai Composite closed up +0.83%. Japan’s Nikkei Inventory 225 closed up +0.30%.
Curiosity Charges
December 10-year T-notes (ZNZ5) as we speak are down by -5 ticks. The ten-year T-note yield is up +2.1 bp to 4.127%. At this time’s stronger-than-expected Aug new dwelling gross sales report is weighing on T-note costs. Additionally, provide pressures are undercutting T-note costs because the Treasury will public sale $28 billion of 2-year floating fee notes and $70 billion of 5-year T-notes later as we speak.
European authorities bond yields as we speak are shifting decrease. The ten-year German bund yield is down -0.6 bp at 2.742%. The ten-year UK gilt yield is down -1.9 bp to 4.661%.
The German Sep IFO enterprise local weather survey unexpectedly fell -1.2 to a 4-month low of 87.7, versus expectations of a rise to 89.4.
ECB Government Board member Cipollone mentioned that “dangers on inflation within the Eurozone are very balanced” and he doesn’t see main threats to inflation in both course, with rates of interest at present properly positioned.
Swaps are discounting a 1% probability for a -25 bp fee reduce by the ECB at its subsequent coverage assembly on October 30.
US Inventory Movers
Chip shares are climbing as we speak, led by a +5% soar in Intel (INTC) to guide gainers within the Nasdaq 100 after Treasury Secretary Bessent mentioned Nvidia’s acquisition of a stake in Intel validates the US authorities’s choice to develop into an Intel shareholder. Additionally, Marvell Know-how (MRVL) is up greater than +3% after its board approved a brand new $5 billion share repurchase program. As well as, ARM Holdings Plc (ARM) is up greater than +2%, and Microchip Know-how (MCHP), ON Semiconductor (ON), NXP Semiconductor (NXPI), and Texas Devices (TXN) are up greater than +1%.
Vitality producers and power service suppliers are shifting increased as we speak, with the worth of WTI crude oil up greater than +1%. In consequence, Diamondback Vitality (FANG) and Devon Vitality (DVN) are up greater than +3%. Additionally, APA Corp (APA), Phillips 66 (PSX), and ConocoPhillips (COP) are up greater than +2%. As well as, Halliburton (HAL), Occidental Petroleum (OXY), Baker Hughes (BKR), Valero Vitality (VLO), Schlumberger (SLB), Exxon Mobil (XOM), Marathon Petroleum (MPC), and Chevron (CVX) are up greater than +1%.
uniQure NV (QURE) is up greater than +190% after reporting its part I/II trial of its AMT-130 in treating Huntington’s illness met its prespecified endpoint, with a excessive dose demonstrating a statistically important slowing of illness development at 36 months.
Iren Ltd (IREN) is up greater than +15% after Arete initiated protection of the inventory with a advice of purchase and a value goal of $78.
Cipher Mining (CIFR) is up greater than +5% after OpenAI mentioned it plans to take a position about $400 billion to develop 5 new knowledge middle websites in partnership with Oracle and Softbank Group. Cipher Mining counts Softbank as an investor.
Thor Industries (THO) is up greater than +4% after reporting This fall internet gross sales of $2.52 billion, properly above the consensus of $2.33 billion.
Albemarle (ALB) is up greater than +3% as lithium producers rally on information that the Trump administration is pursuing a stake in Lithium Americas Corp.
Normal Motors (GM) is up greater than +2% after UBS upgraded the inventory to purchase from impartial with a value goal of $81.
ServiceNow (NOW) is up greater than +1% after Morgan Stanley upgraded the inventory to chubby from equal weight with a value goal of $1,250.
Acadia Prescription drugs (ACAD) is down greater than -11% after reporting {that a} Section 3 trial of its intranasal carbetocin in sufferers with hyperphagia in Prader-Willi syndrome failed to satisfy its major endpoint.
Freeport-McMoRan (FCX) is down greater than 10% to guide losers within the S&P 500 after it declared drive majeure on contracted copper provides and suspended exercise at its Grasberg mine in Indonesia following a lethal mudslide.
Bloom Vitality (BE) is down greater than -12% after Jeffries downgraded the inventory to underperform from maintain with a value goal of $31.
James Hardie Industries Plc (JHX) is down greater than 3% after projecting a fiscal 2025-28 goal EBITDA margin of 28.5%, beneath the consensus of 31%-32%.
Digital Arts (EA) is down greater than -3% on combined critiques for its new EA Sports activities FC 26 online game that launches on Friday.
Adobe (ADBE) is down greater than -2% to guide losers within the Nasdaq 100 after Morgan Stanley downgraded the inventory to equal weight from chubby.
Earnings Stories(9/24/2025)
Barnes & Noble Schooling Inc (BNED), Cintas Corp (CTAS), HB Fuller Co (FUL), KB Dwelling (KBH), PACS Group Inc (PACS), Steelcase Inc (SCS), Sew Repair Inc (SFIX), Thor Industries Inc (THO), Uranium Vitality Corp (UEC), Worthington Metal Inc (WS).
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 data and knowledge on this article is solely for informational functions. This text was initially printed on Barchart.com
