Market Pulse - Monday, Oct. 19

Macro theme

AI-spending doubts and energy-supply risks are driving sentiment. Chip stocks led Wall Street lower on Friday, and Asia opened sharply lower before trimming losses. Gulf tanker attacks and a Ukrainian strike on a Russian oil terminal keep crude elevated.

Wall Street (Friday close)

S&P 500: –1.1% to 7,659 (–1.9% on the week)

Nasdaq: –2.1% to 26,140

Dow: –0.3% to 52,002

Asian markets

Nikkei 225: –0.7%, near 64,855, after an early drop of more than 2%

Kospi: +0.6%, near 5,700

Shanghai: +0.2%, near 3,722, after Q3 GDP of +4.5% y/y (forecast 4.4%) and retail sales of +1.1% (forecast 0.5%)

ASX 200: +0.3%, near 8,833

Hong Kong: closed for Chung Yeung Day

Markets

Gold: ~$4,182 (+0.4%)

Silver: ~$57.73 (+1.3%)

Brent: ~$107.87 (–1.8%)

EUR/USD: ~1.1231 (–0.1%)

USD/JPY: ~158.09

Bitcoin: ~$82,600 (+1.0%)

Ethereum: ~$2,425 (+0.3%)

Fed watch

Fed Chair Warsh gave no clear rate guidance. Markets price about an 84% chance of no change at the October 27–28 meeting.

Today’s calendar (GMT+3)

05:00 – GDP Q/Q and Y/Y (Q3), released: 4.5% y/y

15:30 – Consumer Price Index M/M and Y/Y (Sep)