Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
US Stock Futures Rise as US-Iran Ceasefire Hopes Boost Market Sentiment 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Asian Currencies Stay Range-Bound as Investors Eye China Data, RBNZ Outlook and U.S.-Iran Ceasefire 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
U.S. Stock Futures Edge Higher After Strong Payrolls
U.S. stock index futures saw slight gains on Sunday evening following upbeat sentiment from last week’s robust nonfarm payroll data. Investors now turn their focus to potential interest rate changes and key corporate earnings due this week.
Wall Street Rallies on Payroll Data, Dampens Rate Cut Hopes
Wall Street closed sharply higher on Friday after nonfarm payroll data exceeded expectations, alleviating fears of a slowing U.S. economy. However, the data also reduced expectations for steep interest rate cuts in the coming months. By 19:34 ET (23:34 GMT), S&P 500 Futures rose 0.1% to 5,804.50, Nasdaq 100 Futures gained 0.1% to 20,245.50, and Dow Jones Futures inched up 0.1% to 5,751.07.
Fed Commentary and CPI Inflation in Focus
This week, attention is on the Federal Reserve, with officials Michelle Bowman, Neel Kashkari, and Raphael Bostic speaking on Monday. Their insights precede the release of September meeting minutes on Wednesday, which could shed light on the Fed's decision to cut rates by 50 basis points, marking the start of an easing cycle. September CPI data, also expected this week, will play a crucial role in shaping rate forecasts.
Friday’s strong payroll report shifted trader expectations, as they now predict a gradual pace of rate cuts, with the CME FedWatch tool reflecting increased bets on a higher terminal rate.
Q3 Earnings Season Kicks Off with Major Banks
The third-quarter earnings season officially kicks off this week with major financial institutions like JPMorgan Chase, Wells Fargo, and Bank of New York Mellon reporting results on Friday. These earnings will provide insights into how corporations are navigating high interest rates and persistent inflation. The pace of earnings reports is set to increase next week, focusing on banks and tech giants.
Conclusion
Market sentiment is currently a mix of optimism and caution, balancing strong economic data with the anticipation of rate decisions and corporate earnings performance. Key events this week include Fed commentary, CPI data, and early Q3 earnings reports from major banks.
