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Weakness Early in the Session... Attention Focused on CPI Release


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Let's start by looking at the New York stock market.

The S&P 500 and Nasdaq finished flat to lower, while the Dow Jones Industrial Average also closed with a slight decline.

By sector, healthcare fell by more than 1%, while energy gained over 1%, showing a divergence.

Weighing down the market from the early session today were major bank earnings and semiconductor threats originating from China.

Major financial stocks like JPMorgan Chase and Wells Fargo posted increases in net profit, but failed to meet elevated market expectations, leaving their share prices weak.

However, New York Fed President John Williams expressed a cautious stance regarding further interest rate hikes next year, prompting major indices to pare some of their intraday losses.

Next, let's look at the U.S. futures market.

Amid mixed assessments of third-quarter earnings from major U.S. banks, U.S. stock index futures are showing a mixed trend.

Dow futures are down 19 points, trading around the 51,900 level, while Nasdaq 100 futures are down 12 points, moving around the 30,700 level.

Additionally, S&P 500 futures are down 1 point, trading around the 7,800 level.

Let's also take a look at Russell 2000 futures.

As long-term U.S. Treasury yields remain at high levels, concerns persist over the financing burdens faced by small and medium-sized enterprises.

Russell 2000 futures are moving around the 2,800 level.

While long-term U.S. Treasury yields edged down slightly, the market is turning its attention to the Consumer Price Index (CPI) set to be released today.

10-year U.S. Treasury futures are moving at 5.202%, and 30-year U.S. Treasury futures are trading at 5.6%.

Turning to the commodity futures market, amid ongoing uncertainty surrounding the Federal Reserve's monetary policy, gold futures are trading around $4,184 per ounce, while expectations of increased energy supplies from Russia partially offset concerns over crude oil supply disruptions.

As a result, crude oil futures are trading higher around the $94 level.

Corn futures are moving at 482'6 as U.S. export inspection volumes reached the upper end of market expectations.

Looking at the performance of major U.S. stock futures by individual issue, concerns over intensifying competition for U.S. semiconductor companies are growing following news of technological advancements by Chinese memory chip makers.

NVIDIA futures are down 0.4%, and Apple futures are showing a weak trend of around 0.3%.

That concludes our look at the CME futures market.

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※ Please note: This article was translated by AI and may contain errors.
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