(Bloomberg) — Stock futures were volatile as traders considered the latest inflation data, but big banks rose on earnings reports.
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The final demand producer price index was flat in September, capped by a drop in gasoline prices, and markets were little moved after data suggested further progress towards reining in inflation. The S&P 500 contract remained largely unchanged. U.S. Treasuries fell modestly across the curve, with the 30-year Treasury yield at its highest level since July. The dollar fluctuated.
“Overall, this is a relatively benign update on producer prices, and I don’t think it will change policy expectations significantly,” said Ian Lingen of BMO Capital Markets. “The market will now focus on the University of Michigan Sentiment Survey, but we do not believe it will have a material impact on the underlying tone for US interest rates over the weekend.”
Company highlights:
JPMorgan Chase & Co. reported a surprise increase in third-quarter net interest income and raised expectations for its key revenue stream, even amid expectations that U.S. interest rates will continue to decline.
Wells Fargo & Co. posted third-quarter profit that beat analysts’ expectations, as higher investment banking fees offset a drop in loan income due to lower interest rates.
BlackRock Inc. is the world’s largest wealth manager, which attracted a record $221 billion in customer cash last quarter and aims to become a one-stop shop for stocks, bonds and a growing number of products. It pushed the company’s assets to a record $11.5 trillion. , private property.
Bank of New York Mellon’s third-quarter profit beat expectations as fee income rose 5% on rising asset values.
Elon Musk unveiled Tesla’s long-awaited self-driving taxi in a flashy event that was light on details, but investors wondered how the company would achieve its ambitious goals. are.
As a paralyzing worker strike stretches into its fourth full week, Boeing gets tougher on union representatives by filing unfair labor practice charges, accusing the other party of negotiating in bad faith and undermining its own agreement. Taking a stance.
Humana Inc. releases its final quality ratings for private Medicare Advantage health plans.
BP expects net debt to increase in the third quarter due to lower refining margins and changes in the timing of asset sales.
story continues
The main movements in the market are:
stock
S&P 500 futures were little changed as of 8:33 a.m. New York time.
Nasdaq 100 futures fell 0.1%
Dow Jones Industrial Average futures little changed
Stoxx European 600 rose 0.1%
MSCI World Index little changed
currency
The Bloomberg Dollar Spot Index fell 0.1%.
The euro rose 0.1% to $1.0945.
The British pound rose 0.1% to $1.3076.
The Japanese yen fell 0.2% to 148.89 yen to the dollar.
cryptocurrency
Bitcoin rose 2.8% to $61,375.66.
Ether rose 2.4% to $2,422.78
bond
The 10-year Treasury yield rose 2 basis points to 4.08%.
Germany’s 10-year bond yield rose 3 basis points to 2.28%.
The UK 10-year bond yield rose 2 basis points to 4.23%.
merchandise
West Texas Intermediate crude oil fell 0.6% to $75.39 a barrel.
Spot gold rose 0.7% to $2,648.84 an ounce.
This article was produced in partnership with Bloomberg Automation.
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