ASX- Listed Australian stocks:
A1M, AAC, ABX, ABY, ADI.AU, AKE, ALK, AMC, AMI, ANN, ANZ, APA, ARB, ASM, AZS, BFC, BFC.AU, BHP, BKL, BLD, BOQ, BUB, BWP, CAT, CHC.AU, CHN.AX, CKF, CNR, COF.AX, CQE.AU, CSL, DHG, DMP, DXS.AU, ECF.AX, EHE.AUX, ELD, ENN.AX, ESS, EVN.AU, FAL, FATP.AX, FID, FMG, FPC.AU, FPP, GBS, GOLD, GOR.AU, GPT.AU, HUB, IDX, IGO, IPL, JHC.AX, JHX, KRR, MCR, MPL, NAB, NCM.AU, NEC, NML, NSR.AU, NST.AX, NUF, NXM, ORA, ORI, PAN, PAR.AU, PPS, PRN, QAN, QBE, RED, RIO, RXL, S32, SBM, SCG.AU, SCG-2, SFR, SGP, SHL, SLR, SRG, SRV.AU, SSPG-2, SSR, STO, SUN, SVY, TLS, TPG, TRS, TWE, VCX, WBC, WDS, WHC, X64, PDN, GNC, MGR, TYR, ATOM, 29M, RRL.AU, STO.AX, WDS.AX & GMD.AX
International stocks:
3382, 3690, 5930, 6506, 6954, 8058, 9432, 1128.HKE, 1818.HKE, 1821.HK, 1876.HKE, 1928.HKE, 1972.HKE, 2282.HKE, 2840.HKE, 2883.HKE, 3289.TKS, 3690.HKE, 388.HKE, 435.HK, 5929.TKS, 6367.TKS, 6481.TKS, 6758.TKS, 683.HKE, 69.HKE, 700.HKE, 7167.TKS, 7186.TKS, 7974.TKS, 823.HK, 8306.JP, 8316.JP, 8331.T, 8411.T, 8604.TKS, 8604-2, 8801.JP, 8804.TKS, 9684.TKS, AAL, AAPL.NAS, ABX.TSX, ACA.PAR, AIR, AMH.NYS, AMS, AMS.MAD, ANGPY, ANTO, APF, ARF, AT1.ETR, ATVI, ATYM, AUTO.LSE, AV, AVB.US, BA, BABA.NYS, BAC, BARC, BBOX.LSE, BGFD, BHP.NYS, BHR.NYS, BIDU.NAS, BKIA, BMW, BN, BNP.PAR, BP, BT.A, BXP.NYS, C, CAST.SE, CAT, CCH, CCL.LSE, CDE.NYS, CDE.US, CEY, CHL, COL.ES, CQR, CSCO, CSGN, CUZ.NYS, CVO.PA, DGE, DHC, DHI, DIS, DIS.NYS, DLR.NYS, DOM.LSE, ECMPA.AMS, ENAV-uk, ENTRA.OSL, ENX.PAR, EQIX, ESS.US, EXR.NYS, EZJ, FDX, FRES.LSE, G24, GDX.LSE, GDXJ.LSE, GDXJ.US, GEMD, GLD.ARC, GLEN, GOCO, GOLD.NYS, GOOG, GRG, GSK, HDB, HEIA.AMS, HL, HLT.NYS, HMY, HMY.NYS, HSW, HUFV.SE, IAG, IBN, IMG, IMPUY, ITRK, ITV, JHX.NYS, JP.8308, KGC, KIM.US, KNEBV.HEL, KWS, LEG.ETR, LEN, LGEN, LLOY, LRE, LSE, LVMH, MC.PAR, MCRO, MCRO.LSE, MKS, MOL, MONY, MRL.ES, MTN.NYS, NEM, NG, NSR, NWH.U.CA, NWH.UN.TSX, OXY, PETS, PG, PHE, PHE.LSE, PLATJPN, PLD.US, PLEF, PLG.CA, POLY, PPH, PSA.NYS, PZC, RB, REL, RELX, RI, RIGD, RIGD.LSI, RING, RMV.LSE, RNK, RR, SGE, SGRO.GB, SHEL, SIL, SKT, SKT.US, SLP, SMDS, SMI, SMSN.LSI, SN, SNE, SPG.US, SPK, SRC.US, STAY.NAS, SYY, TGYM, TJX.NYS, TME, TRNO.US, TSM, TTWO, TWR, UBER, ULVR, UMH.NYS, VER, VNO.NYS, VOD, VOW, VTR.US, WELL.K, WMG.NAS, WYNN, XERI.PK, XOM, YTRA, YUMC, ZG.NAS, URA, HEM.SE, 9888.CN, 9988.HK, 7163.JP, CDE.US, GENI.GB, PDN.AX, RIOT.US & ZG.US
Wall Street Rallies as Shutdown Drags and Tech Giants Lead Gains
There were no major US economic releases on Monday, as the government shutdown rolls on. The AP reported that according to one estimate from Oxford Economics, a shutdown drags on GDP by about 0.1% to 0.2% per week. The longest shutdown to date is 35 days and was during Trump’s first administration. This one began on October 1st.
The Kalshi market (one of the biggest prediction markets) is handicapping the length of the current government shutdown with a point forecast of 35.3 days. The black price line has climbed in steps since mid-September, accelerating around early October and peaking above the 40-day mark before slipping. Under the chart, traders are pricing conditional outcomes. “More than 34 days” sits at a 53% chance, down 10 percentage points from its recent high, implying the crowd now sees a coin flip with a slight tilt toward a longer-than-month stalemate. “More than 35 days” trades at 49%, down 22 points, suggesting the fever broke from an earlier surge but remains finely balanced. “More than 40 days” shows 32%, off 25 points, signalling that the tail-risk of a protracted impasse has eased but not vanished.
Later this week, investors will zero in on the delayed US inflation report, now scheduled for Friday, which is poised to shape the market’s rate cut expectations and provide critical guidance ahead of the Fed’s policy decision. A rate cut is effectively priced in this month, though another at the next meeting is seen as less certain. Economists expect core CPI to have risen 0.3% for a third month in September, keeping the annual rate at 3.1%, while headline inflation likely picked up due to higher energy costs.
Mega-caps were upwardly supportive on Monday, led by Apple, up almost +4% on reports of strong iPhone sales. The new ultra-thin ‘Air’ model is the first meaningful change to the form factor in years and appears to have been enough to prompt upgrades among a large cohort of iPhone owners who have had their phones for at least a few years. Loop Capital upgraded the tech titan.
Meta +2.1%, Tesla +1.8%, Alphabet +1.3% and Amazon +1.6% also staged solid gains. Nvidia inched lower, while Oracle fell almost -5%. It was interesting to see Amazon gain despite a major outage from Amazon Web Services, which effectively powers about 1/3 of the internet, making it the largest player by some margin – Microsoft and Google take the 2nd and 3rd spots. Thousands of major companies and sites were hit by the outage, which also impacted our workflows last night and this morning.
Wall Street’s rally gained momentum as traders responded to upbeat corporate earnings and hopes for reduced trade tensions between the US and China. Bond yields drifted lower, offering further support to risk assets. Gold and other PGMs, including silver, platinum and palladium, rebounded sharply from last Friday’s losses. Platinum Group Metals, Barrick Mining, Coeur Mining and other exposures saw strong gains. US-listed Chinese stocks tracked gains from China/HK trading, with the Golden Dragon ETF up +2.4%.
Earnings season has been a stabilising force, with around 85% of S&P 500 companies surpassing profit expectations so far.
Boeing ascended after regulators cleared the company to lift monthly 737 MAX production to 42 planes from 38. The move reverses the cap imposed after an emergency door plug incident on an Alaska Air flight in January, signalling renewed confidence in the aircraft’s safety controls and offering a potential boost to medium-term cash flow. Meanwhile, a Boeing cargo plane slid into the sea at Hong Kong’s airport, reportedly after colliding with a ground vehicle.
Cleveland-Cliffs surged, extending a recent rally after reporting adjusted EBITDA of $143 million for the third quarter, beating consensus estimates of $128 million. Revenue also narrowly topped forecasts at $4.7 billion. The steelmaker’s announcement that it is exploring rare earth mineral extraction from its iron ore assets further brightened the outlook, helping shares notch one of the session’s biggest gains.
Super Micro Computer jumped to lead the S&P 500, with traders citing a positive technical setup that could point to further upside. Cooper Cos. advanced following news that activist Jana Partners has taken a stake and may push for strategic changes, including a possible deal involving its contact lens unit and Bausch + Lomb.
Hologic gained as reports emerged that Blackstone and TPG are in advanced talks to acquire the medical device maker in a $17 billion transaction, underlining continued private equity interest in the sector. KLA Corp. climbed 3.8% to an all-time high after Barclays named it a top semiconductor equipment pick. Netflix rallied, extending a sharp rebound ahead of its third-quarter earnings.
On the downside, Rivian Automotive dipped 0.4% after being downgraded at Mizuho, which cited expiring EV purchase credits and a weaker demand backdrop, trimming its price target to $10. AppLovin slid following reports of regulatory scrutiny.
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