Market Pulse - Tuesday, Oct. 27

Oil eases, all eyes on the Fed

Brent has slipped to about $110 as Saudi, Turkish and Pakistani officials met Iranian leaders to calm tensions. Houthi attacks on Saudi targets continue, though, and Washington hints at more strikes on Iran. Elevated crude keeps inflation worries alive ahead of the Fed decision on Wednesday. A hold is about 90% priced in, and the odds of a December hike are around 73%.

Wall Street (Monday close)

Tech led the rally after Anthropic filed for its Nasdaq IPO.

S&P 500: 7,676.77 (+0.70%)

Nasdaq: 26,169.38 (+0.82%)

Dow: 52,361.58 (+0.28%)

Asian markets

Nikkei 225: 63,316 (+1.8%), led by chip stocks

Kospi: 5,626 (+2.9%), after Q3 GDP beat forecasts at +1.0% q/q

ASX 200: 8,850 (+0.5%)

Hang Seng: 23,058 (–0.7%)

Shanghai: 3,683 (–0.4%), despite China’s industrial profits rising 14.4% y/y

Markets snapshot

EUR/USD: ~1.117

USD/JPY: ~157.8

Gold: ~$4,003

Silver: ~$52.9

Brent: ~$110

Bitcoin: ~$79,750

Today: US consumer confidence, durable goods and new home sales, plus earnings from Coca-Cola, Visa and Boeing. The FOMC meeting begins.

Coming up: Fed, Alphabet and Microsoft on Wednesday; ECB, US GDP and PCE on Thursday; BoJ on Friday.