ECB Rate Hike in Focus as Oil Tops $100 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Asian Stocks Mixed as Korean Chipmakers Rally 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
U.S. Stock Futures Steady as Oil Tops $100 Ahead of Inflation Data 
Fitch Eyes Japan Budget for Fiscal Discipline 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Norway Core Inflation Rises to 3% in August 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
Asian Stocks Fall as Oil Tops $100, Yields Rise 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
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Alphabet Surges, Lifting Nasdaq Futures
U.S. stock index futures saw gains in evening trading on Tuesday, fueled by a sharp 5.5% rise in Alphabet Inc. shares after the tech giant reported better-than-expected earnings. Alphabet’s performance is anticipated to set a positive trend for other tech stocks, with Meta, Microsoft, Amazon, and Apple slated to release earnings in the coming days.
Tech Leads Gains as Broader Market Holds Back
S&P 500 Futures rose 0.2% to 5,883 points, with Nasdaq 100 Futures up by the same percentage to 20,737.25 points. Dow Jones Futures inched up 0.1% to 42,487 points. However, non-tech sectors remained cautious amid ongoing concerns about the upcoming 2024 presidential election and key economic reports due later this week.
Alphabet's AI Investments Show Results
Alphabet’s success in Q3 was partly due to its cloud services, which grew at their fastest pace in two years. These services were supported by advances in artificial intelligence and election-related ad revenue, particularly on YouTube. The company’s positive results buoy investor sentiment for tech.
Broader Market Mixed as Investors Eye Key Data and Election
The NASDAQ Composite closed 0.8% higher at a record 18,717.58 points on Tuesday, while the S&P 500 rose slightly, ending at 5,832.92. However, the Dow dipped by 0.4%, reflecting lingering caution. Investors remain watchful ahead of Thursday's Q3 GDP report and Friday’s PCE index and employment data, all of which could influence the Federal Reserve’s expected rate decision next week.
