Core Viewpoint - The White House has indicated that the October jobs and inflation report is unlikely to be released, which may impact market expectations and economic forecasts [1] Group 1: Economic Impact - The delay in the release of the jobs and inflation report could lead to uncertainty in economic indicators, affecting both consumer confidence and investment decisions [1] - Analysts may need to adjust their forecasts and models due to the absence of this critical data, which typically informs monetary policy and market trends [1] Group 2: Market Reactions - Financial markets may experience volatility as investors react to the news of the report's delay, potentially leading to shifts in stock prices and trading volumes [1] - The lack of updated economic data could hinder the Federal Reserve's ability to make informed decisions regarding interest rates and inflation control measures [1]

Press Secretary Karoline Leavitt said the government shutdown made it hard to gather the necessary data to compile key reports. ...

The seeming end of the government shutdown means Wall Street could soon get flooded with a raft of crucial reports on the economy that were delayed during the impasse. First up: September employment. ...

Core Viewpoint - Some furloughed government workers will return to work to produce a key inflation report for September, which is essential for calculating Social Security's cost-of-living adjustment [1] Group 1 - The return of furloughed workers is aimed at ensuring the timely production of the inflation report [1] - The inflation report is critical for determining adjustments in Social Security benefits [1]

Market Overview - The three major U.S. stock indices reached all-time closing highs, with the Dow Jones up 78.62 points (0.17%) at 46,519.72, the Nasdaq up 88.89 points (0.39%) at 22,844.05, and the S&P 500 up 4.15 points (0.06%) at 6,715.35 [1] - The market sentiment is shifting towards a longer government shutdown, now expected to last nearly 13 days, up from the previous estimate of 9 days [1] U.S. Stocks - Notable stock movements include Intel (INTC.US) up 3.78%, AMD (AMD.US) up 3.5%, Circle (CRCL.US) up 16.05%, and Coinbase (COIN.US) up 7.48%, while Tesla (TSLA.US) fell 5.11% [1] - The Nasdaq China Golden Dragon Index rose 1.06%, with Alibaba (BABA.US) up 3.59% and NIO (NIO.US) up 3.14% [1] European Stocks - The German DAX30 index rose 287.77 points (1.19%) to 24,437.22, while the UK FTSE 100 index fell 22.98 points (0.24%) to 9,423.45 [2] - The French CAC40 index increased by 89.68 points (1.13%) to 8,056.63, and the Euro Stoxx 50 index rose 66.24 points (1.19%) to 5,647.45 [2] Commodities - Oil prices fell to a near five-month low, with WTI down over 2% to $60.48 per barrel, the lowest closing price since early May [2] - Gold prices fluctuated, with spot gold initially dropping 0.26% to $3,855.64 per ounce, then reaching a record high of $3,896.85 before closing lower [4] Cryptocurrency - Bitcoin surged above $120,000, marking its highest level since August, with nearly $400 million in forced liquidations occurring in the past 24 hours [3] - The largest cryptocurrency has increased over 7% since the beginning of the week, with traders closely monitoring its performance in the fourth quarter [3] Company News - Tesla (TSLA.US) reported a surprising increase in quarterly vehicle deliveries to 497,099, a 7.4% year-over-year growth, driven by consumers rushing to purchase electric vehicles before federal tax credits expire [8] - Boeing (BA.US) announced a delay in the 777X aircraft's commercial operation to 2027, potentially leading to non-cash accounting losses estimated between $2.5 billion and $4 billion [9] - Morgan Stanley raised its target price for Apple (AAPL.US) to $298 from $240 [9] - Deutsche Bank increased its target price for Lithium Americas (LAC.US) from $2.5 to $6.3 [10]

Core Viewpoint - The offshore RMB exchange rate surged approximately 300 points, reaching 7.1173, marking the first time since November 6, 2024, that it broke the 7.12 level, indicating a stronger appreciation of the RMB compared to the depreciation of the USD [4]. Group 1: RMB Exchange Rate Performance - The offshore RMB exchange rate rose significantly, with a peak of 7.1173, reflecting a notable appreciation against the USD [4]. - The RMB's appreciation occurred despite the USD not further declining, suggesting a robust demand for RMB assets [8]. Group 2: Market Reactions - The FTSE China A50 index futures rose by approximately 0.3%, indicating positive sentiment towards Chinese assets [6]. - The Hang Seng Tech Index futures increased by over 1%, further reflecting investor confidence in the technology sector [9]. Group 3: U.S. Market Overview - U.S. stock indices showed mixed results, with the Dow Jones slightly down, while the Nasdaq gained about 0.3% [11]. - Nvidia's stock fell over 1%, despite reporting a 56% revenue growth in its latest quarterly earnings, highlighting some concerns regarding its data center business revenue [12][15]. Group 4: Nvidia's Earnings and Market Outlook - Nvidia's revenue guidance for the upcoming quarter is set at $54 billion, slightly above analyst expectations, but does not include potential sales from China, which could enhance revenue if agreements are reached [15]. - Analysts have become more bullish on Nvidia's stock following the earnings report, with several firms raising their price targets, indicating a positive outlook for the company [15].

Core Viewpoint - The latest inflation report from the United States indicates that tariffs have not had a negative impact on the economy [1] Group 1 - The U.S. Treasury advisor highlights that the recent inflation data continues to support the notion that tariffs are not detrimental [1]

Core Viewpoint - The possibility of the Federal Reserve taking early action has increased, but it still depends on upcoming key reports regarding inflation and the job market [1] Summary by Relevant Sections - Employment Market Analysis - The recent non-farm payroll report presents a different scenario compared to what Federal Reserve Chair Powell described earlier in the week [1] - The unemployment rate remains at a reasonable level, indicating that even a poor report may not lead all hawkish individuals to completely change their stance [1] - Inflation Reports - Future inflation reports will be critical in determining whether the Federal Reserve will act sooner than expected [1] - The sustainability of inflation trends will play a significant role in the decision-making process [1]

Core Viewpoint - Federal Reserve Chairman Jerome Powell indicated that there are two upcoming employment and inflation reports before the next meeting, which will guide future decisions [1] Group 1 - The Federal Reserve is closely monitoring employment and inflation data [1] - The outcomes of the two reports will influence the direction of monetary policy [1]

Core Viewpoint - The inflation report is generally positive, with core inflation rising by 0.2% month-over-month, aligning with expectations, while annual data is slightly above expectations [1] Group 1: Inflation Data - Core inflation's monthly increase of 0.2% meets expectations, indicating stability in inflation trends [1] - Annual inflation data is slightly higher than anticipated, suggesting some inflationary pressures may be emerging [1] Group 2: Federal Reserve Implications - The inflation data provides the Federal Reserve with breathing room, allowing them to maintain interest rates steady in July [1] - The Fed will need to consider data from July and August before making a decision in September [1]