China Central Bank Directs Mortgage Rate Cuts to Revitalize Property Market 
Asia-Pacific Cross-Border M&A Booms as Japan Drives Growth 
Chinese Stocks Rally as Beijing Rolls Out Major Stimulus Measures 
South Korea’s Export Growth Slows in September, Supporting Rate Cut Expectations 
Tariffs Could Reignite Inflation, UBS Warns 
Federal Court Partially Dismisses FTC's Antitrust Lawsuit Against Amazon 
Russia Faces Critical Yuan Shortage as U.S. Sanctions Threaten Chinese Banking Ties 
Israel Escalates Conflict with Ground Raids into Lebanon 
Mizuho Analysts Raise Nvidia AI GPU Shipment Forecast for 2025 
Moody's Downgrades Israel's Credit Rating Amid Regional Conflict 
Oil Prices Surge Amid Heightened Middle East Conflict 
Wells Fargo Sees Near-Term Upside for Small Caps Amid Political and Economic Uncertainty 
Taiwan on Alert After Detecting China's Missile Launches 
Trump Targets Immigrants, Attacks Harris During Wisconsin Rally 
Textile Retailers Face Challenges in Second Half, But Consumer Optimism Grows: Morgan Stanley 
BofA Analysts Flag Market Risks from China, Fed Cuts, and Tax Loss Harvesting 
The MSCI global equities index fell on Monday, and the dollar rose after Federal Reserve Chair Jerome Powell suggested that the central bank was not in a rush to cut interest rates. Oil futures remained flat, with trading volatility driven by tensions in the Middle East.
Brent Crude Suffers Significant Losses for Month and Quarter
Brent crude, a global benchmark, recorded its largest monthly drop since November 2022 and its biggest quarterly loss in a year. It slumped 17% in the third quarter as fears over reduced global demand overshadowed concerns about supply disruptions from the Middle East.
U.S. Markets React to Powell’s Comments
Wall Street experienced a mixed session, with some investors expecting more substantial easing from the Fed. However, Powell’s suggestion of two 25 basis point rate cuts this year, if economic conditions align with expectations, indicated a more measured approach.
“There were some expectations for a 50 basis point cut by the end of the year. That comment probably took it off the table,” said Robert Phipps, director at Per Stirling Capital Management in Austin, Texas.
Wall Street Performance and Quarter-End Adjustments
Despite initial declines during Powell’s speech, U.S. indexes rebounded, driven partly by quarter-end adjustments to portfolios. The Dow Jones Industrial Average edged up 0.04% to 34,330.15, the S&P 500 rose 0.42% to 4,562.48, and the Nasdaq Composite increased 0.38% to 13,189.17. For the month, the S&P 500 gained 2.01%, and it rose 5.53% for the quarter.
Dollar Strengthens as Rate Cut Hopes Dim; Treasury Yields Rise
The dollar index, which measures the greenback against a basket of currencies, rose 0.32% to 100.76. The euro fell 0.27% to $1.1133, while the dollar strengthened 1% against the Japanese yen to 143.61. Treasury yields also rose, with the 10-year note yield up 3.6 basis points to 3.785%.
Energy and Precious Metals Market Update
In energy markets, U.S. crude closed at $68.17 per barrel, and Brent crude edged down 21 cents to $71.77 per barrel, marking its largest monthly drop since November 2022 and its biggest quarterly decline in a year.
Gold prices, after a strong rally, eased slightly with spot gold falling 1% to $1,831.39 an ounce, while U.S. gold futures declined 0.54% to $1,829.90 an ounce.
