Caution Ahead of Midterms... U.S. Futures Fall Across the Board

Here is a look at the global market trends.

New York stock markets this week are wrapped in a thick layer of caution amid the end of daylight saving time, the release of the October ISM manufacturing PMI, upcoming earnings reports from major companies like Apple and Palantir, and the U.S. midterm elections taking place on the 3rd.

Earnings announcements from major tech companies such as AMD and ARM are also lined up.

It is crucial to verify whether the expansion of AI investments is translating into actual profits.

The market is also paying close attention to the U.S. midterm elections to be held on the 3rd.

With the direction of future fiscal and industrial policies hanging on the election results, market caution is mounting.

Among economic indicators, the JOLTS (Job Openings and Labor Turnover Survey), ADP private payrolls, and ISM services index slated for release during the week, followed by the October employment report due on Friday, are expected to be the major turning points.

Next, let's look at the U.S. futures market that closed last week.

Amid a heavy wave of selling concentrated on AI-related stocks last week due to sluggish big tech earnings, investor caution persists ahead of this week's major corporate earnings releases and employment data.

U.S. stock index futures fell across the board.

Dow futures dropped more than 500 points to close in the 51,900 range, while Nasdaq 100 futures fell 1,008 points, dropping below the 29,000 mark.

S&P 500 futures also tumbled over 100 points to finish in the 7,600 range. Russell 2000 futures weakened by 45 points to close in the 2,800 range.

A trend of capital shifting from large-cap tech stocks to other sectors was observed.

Employment indicators to be released this week are cited as key variables to gauge the future interest rate path.

If employment proves stronger than expected, upward pressure on interest rates could mount, drawing intense market focus.

The 10-year U.S. Treasury futures recorded 4.941%.

Crude oil futures hovered around the $102 per barrel mark.

This week's major tech earnings reports are expected to continue influencing sentiment in the futures market.

Apple is scheduled to release its earnings early tomorrow morning (the 3rd) Korean time.

Apple futures fell by over 1%, while Nvidia futures closed down in the 4% range.

That wraps up our look at the CME futures market.
※ Please note: This article was translated by AI and may contain errors.