NASDAQ was bought today even with borrowing costs higher and with oil slightly down to fuel that dip buy
Markets saw mixed signals as Treasury yields rebounded and some tech names faltered. Geopolitical tensions remained a backdrop with ongoing US-China dialogues and the White House attacking a Fed official.
Oil prices saw significant volatility. WTI crude clung to $99.50 support amid breakdown risk, while Brent dipped below $105 after Saudi Arabia reportedly cut Europe off from October crude. JPMorgan also struggled to forecast oil prices due to the US-Iran war.
The Yen jumped over 1 yen after the BOJ conducted a rate check, indicating potential shifts in monetary policy. Goldman Sachs also dropped a surprise call for a next Fed interest-rate hike.
Individual stocks saw notable moves, with Molson Coors and HB Fuller hitting 52-week lows. Fluence Energy fell on a Jefferies downgrade, and Volkswagen slashed profit guidance due to China and BEV adoption challenges.
Watch for further central bank communications and geopolitical developments to set the tone.