Anglo American Reports Decline in Copper and Diamond Production Amidst Restructuring Efforts 
Asian Currencies Decline Amid Political Uncertainty and Dollar Strength 
Oil Prices Rise Amid Middle East Tensions, Eye Weekly Gains Despite U.S. Inventory Build 
Japanese Stocks Rally as Yen Sinks Post-Election, Highlighting Market Uncertainty 
Hermes Sees Robust Growth in Q3 Sales Amidst Global Luxury Slowdown** 
Japanese Stocks Surge Despite Political Uncertainty Following Election Results 
Yara International Reports Strong Q3 Earnings Driven by Record Production 
Asian Stocks Stay Flat; Japanese Shares Sink Ahead of Election, Yen Pressure 
Tokyo Inflation Dips Below 2% Target, Raising Doubts on Further BOJ Rate Hikes 
Asian Currencies Weaken as Dollar Strengthens, Yen Under Election Pressure 
Singapore's Economic Outlook for 2024: Growth Projections and Inflation Insights 
Boeing Plans $15 Billion Capital Raise Amid Ongoing Strike and Financial Pressures 
Oil Prices Drop as Israel's Strike on Iran Eases Market Fears 
UN Climate Body Faces €57 Million Budget Shortfall Impacting Global Dialogues 
U.S. Futures Gain as Middle East Tensions Subside, Tech Earnings Awaited
U.S. stock index futures edged higher on Sunday night as concerns over a significant Middle East conflict eased. Israel's weekend retaliatory strike avoided targeting Iran's nuclear and oil facilities, reducing fears of a severe escalation.
This week, attention turns to major technology earnings and key economic data to provide insights into corporate health and the broader economy.
Futures Rise Amid Calm in the Middle East
By 19:14 ET (23:14 GMT) on Sunday, S&P 500 Futures climbed 0.4% to 5,871.25 points, Nasdaq 100 Futures increased by 0.5% to 20,597.75, and Dow Jones Futures rose 0.4% to 42,468.0 points. Oil prices dropped early Monday, reflecting easing Middle East concerns and improving market sentiment.
While Iran indicated minimal damage from the weekend’s attack, it warned of potential retaliation, leaving geopolitical risks still on the radar.
Tech Earnings to Drive Market Moves
U.S. stocks were mixed last week, with the Nasdaq hitting a record intraday high as traders shifted focus to technology stocks. The upcoming earnings reports from five of the "Magnificent Seven" tech firms—Alphabet, Meta, Microsoft, Apple, and Amazon—are expected to significantly impact market direction.
These companies account for a substantial portion of market valuations, and their performance will serve as a bellwether for the broader market, especially given the heavy investments in artificial intelligence.
Key Economic Data in Focus
In addition to corporate earnings, investors will closely monitor U.S. house price data, third-quarter GDP, and the PCE price index—the Federal Reserve's favored inflation metric.
With the 2024 presidential election looming next week, markets may experience heightened volatility.
