Erik Schafhauser Zürich Erik Schafhauser Zürich Erik Schafhauser Zürich

Morning Brew October 26 2021

Morning Brew 1 minute to read
Erik Schafhauser

Senior Relationship Manager

Summary:  Tesla Hype driving markets higher

Good Morning.

News of the day yesterday was Hertz which announced to purchase 100k Tesla vehicles sparking a surge in Tesla’s stock price, sending the valuation to above 1 Trio USD for the first time and adding 100bio in market cap to Tesla with a 4.2 bio transaction. Talk about leverage.

The Dow as well as the S&P 500 hit new highs and European Equities are also looking friendly with the Dax at 15620 and the Eurostoxx 50 at 4194.

The German IFO disappointed yesterday weighing on the EUR, the EURUSD fell to currently 1.1605 and GBPUSD remained little changed at 1.3760. That let the USD index increase a little. The Turkish Lira was able to stabilize it`s decline for now after President Erdogan tried to deescalate the tensions he caused late last week.  Gold and Silver are trading calmly at higher levels, Gold above the 1800 at 1805 and Silver at 24.50.

Bitcoin remains below the recent high looking for direction, currently trading at 62300.

UBS beat expectations today with Q3 earnings at USD 2.27 bio vs an expectation of USD 1.6 bio. Pre-tax profit for the investment banking division jumped 32%. Novartis is considering to sell Sandoz

European Energy ministers are meeting today to consider ways to deal with the energy crisis, possibly affecting energy prices through the day.

Watch out for earnings by UPS, AMD, GE, Microsoft, 3M, Alphabet, Visa, Twitter, Robinhood and others before and after the close, key economic data will be the US consumer confidence at 16:00 CET.

Physically Settled Futures:

NGX1 will expire 27th October at 15:00 GMT

EMAX1 will expire 28th October at 09:00 GMT

HGX1, RRX1, XKX1, ZSX1 will expire 28th October at 15:00 GMT


Expiring CFDs:

GASOLINEUSNOV21, HEATINGOILNOV21, SOYBEANSNOV21 will expire 27th October at 15:00 GMT

CHINA50OCT21, INDIA50OCT21, SINGAPOREOCT21, TAIWAN95OCT21 will expire 28th October at 02:00 GMT

OILUKDEC21 will expire 29th October at 15:00 GMT

Trade safely!!



The Saxo Bank Group entities each provide execution-only service and access to Analysis permitting a person to view and/or use content available on or via the website. This content is not intended to and does not change or expand on the execution-only service. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Saxo News & Research and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Saxo News & Research is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Saxo News & Research or as a result of the use of the Saxo News & Research. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. Saxo News & Research does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of our trading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws.

Please read our disclaimers:
Notification on Non-Independent Investment Research (
Full disclaimer (
Full disclaimer (

Saxo Bank A/S (Headquarters)
Philip Heymans Alle 15

Contact Saxo

Select region


Trade responsibly
All trading carries risk. Read more. To help you understand the risks involved we have put together a series of Key Information Documents (KIDs) highlighting the risks and rewards related to each product. Read more

This website can be accessed worldwide however the information on the website is related to Saxo Bank A/S and is not specific to any entity of Saxo Bank Group. All clients will directly engage with Saxo Bank A/S and all client agreements will be entered into with Saxo Bank A/S and thus governed by Danish Law.

Apple and the Apple logo are trademarks of Apple Inc, registered in the US and other countries and regions. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google LLC.