Earnings wave checks trade and shutdown hopes

Market Overview - U.S. and global markets experienced a bounce at the start of the week due to optimism surrounding trade, potential resolution of the government shutdown, and easing regional bank concerns [1] - Wall Street rally faced challenges early on Tuesday as corporate earnings reports were anticipated [5] Japan Market - The election of Sanae Takaichi as Japan's first female prime minister contributed to a surge in the Nikkei stock benchmark, reaching record highs [2] - The yen continued to weaken despite speculation about Satsuki Katayama being considered for finance minister, who has previously advocated for a stronger currency [2] China Market - Chinese stocks saw their largest gain in six weeks, driven by U.S. President Trump's optimism regarding a fair trade deal with President Xi Jinping ahead of the November 1 tariff deadline [3] - The upcoming Communist Party meeting focused on a new five-year economic plan also positively influenced market sentiment [3] U.S. Government and Banking Sector - There is hope for an end to the ongoing government shutdown, which has reached 21 days, as White House economic adviser Kevin Hassett indicated it could conclude this week [4] - Regional bank concerns eased slightly as Zions Bancorp reported decent earnings despite a significant loss on two loans, resulting in a 2% increase in its stock during after-hours trading [4] Corporate Earnings and Market Reactions - Wall Street stock futures declined slightly ahead of the corporate earnings season, with Netflix and major industrial and defense companies set to report [5] - A drop in crude oil prices to five-month lows contributed to softer U.S. Treasury yields and a stronger dollar, primarily due to the falling yen [5] Argentina's Economic Situation - Argentina's peso continued to weaken despite a $20 billion exchange-rate stabilization agreement with the U.S. Treasury, ahead of a key midterm election [6] - U.S. banks, including JPMorgan, Bank of America, and Goldman Sachs, are hesitant to lend the $20 billion to Argentina without guarantees or collateral [6]