Morning Brew October 30 2024

Good Morning,

Strong  earnings by Alphabet pull the Nasdaq futures to new records as the stock rose 6% in extended trading, UBS Group reported better than expected results of $1.4 billion helped by cost reductions and revenue growth. VW reported horrible numbers but was slightly better than feared.

The Nasdaq Composite reached an all time high yesterday and has delivered an average yield of 10.8% over the last 53 years since it was launched.

The JOLTS Job openings showed fewer open positions than expected, raining fears the Non-Farm Payroll on Friday may disappoint. 10 year yields are off the highs at 4.24 after 4.30. Gold remains at a record 2787, Silver is a little lower at 34.30 while the USD Index changed a little at 104.25.

Bitcoin remains strong at above 72k EURUSD is 1.0820, GBPUSD 1.30 and USDJPY 153.30.The new President of the SNB Martin Schlegel has hinted at more rate cuts, EURCHF is 0.9377 and USDCHF 0.8667

We are expecting somewhat exciting data today before the major releases tomorrow and Friday. Earnings by Meta and Microsoft will be key.

Remain extremely careful with your trading, the expected volatility is significant severe! 

Wednesday

- Data AU CPI, DE Unemployment, CPI and GDP. EU GDP, US GDP Swiss KOF
- Earnings:  Microsoft, Meta, Eli Lily, Caterpilar, Amgen, Coinbase, Robinhood, Roku, Starbucks,

Thursday
- Data China PMI, France CPI, EU Inflaltion& Unemployment rate, US PCE Canada GDP, Bank of Japan
- Earnings: Apple, Amazon, Mastercard, Merck, Linde, Uber, ICE, Intel,

Friday
- Data Global PMI, US Nonfarm Payrolls
- Earnings, Exxon, Chevron, CBOE