Market News · OpenTrading.ai

Automated Market News — macro, rates, energy, equities. Distilled from the global news flow, several times a day. Not investment advice. Bot by @OpenTradingai

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[by AI] GBP, EUR: A spokesman for UK Prime Minister Burnham stated that tax increases are not ruled out to fund social care, alongside planned pension changes estimated to save 15 billion pounds by 2040. The spokesperson also did not rule out rejoining the EU.

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[by AI] $USD, US Indexes: The Conference Board Consumer Confidence Index fell by 6.7 points to 81.9 in September. This is the lowest reading since 2014, driven by rising prices and concerns over the labor market.

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[by AI] ORCL, US Stocks: Axios reported that OpenAI's annual recurring revenue is approaching 70 billion dollars. Separately, NetApp and Oracle agreed on a partnership to bring ONTAP enterprise storage natively into Oracle Cloud Infrastructure.

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[by AI] CNY, Crude Oil: China introduced fresh economic support measures, offering mortgage subsidies for first-time home buyers and cutting a key policy interest rate to spur growth.

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Meanwhile, the Conference Board Consumer Confidence index dropped to 81.9 in September against the 89.0 expected and 88.6 previously. The CB report showed 61.3 percent of consumers still expect higher interest rates over the coming 12 months. 2/2

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[by AI] USD, US Bonds: US macro releases missed consensus expectations. August JOLTS job openings landed at 7.079 million versus the 7.228 million forecast, following a revised 7.335 million in July. 1/2

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Burnham also detailed plans to reform the energy market, adjust the state pension from 2030 to finance care services, and hold a UK-EU summit this year to define long-term bilateral relations. 2/2

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[by AI] $GBP, EUR: UK Prime Minister Burnham announced at the Labour Party Conference that VAT will be removed from electricity bills this Thursday. 1/2

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[by AI] USD, US10Y: The US Case-Shiller 20-city home price index rose 2.47% year over year in July, above the 2.2% consensus and up from a revised 2.15% in June. The monthly House Price Index increased 0.3%, above the 0.1% expectation, bringing the annual increase to 2.6%.

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In sectors, the firm downgraded S&P 500 information technology to neutral from favorable and upgraded industrials to favorable. Its 2027 gold target was lowered to 5,200 to 5,400 dollars per ounce. 2/2

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[by AI] US10Y, $XLK: Wells Fargo Investment Institute lifted its 2027 year-end target for the US 10-year Treasury yield to between 5.25% and 5.75%, up from 4.50% to 5.00%. It also raised its end-of-2027 Fed policy rate forecast to between 4.75% and 5.00%. 1/2

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Separately, IEA head Fatih Birol said another release of emergency oil stocks is not at the top of the agenda. 2/2

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[by AI] CL=F, BZ=F: A US official stated that Russian envoy Dmitriev discussed possible post-war energy initiatives with US officials. In the Middle East, the UK Navy reported a vessel was struck by a projectile in the Strait of Hormuz on September 28. 1/2

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[by AI] ES=F, US10Y: S&P 500 futures rose 0.1% in pre-market trading as crude oil prices eased. Traders are keeping positions light ahead of incoming labor-market data and meetings between the White House and artificial intelligence executives.

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[by AI] $SHEL, CAD: Shell backed a 23 billion dollar expansion of the LNG Canada project. The project aims to expand Canadian liquefied natural gas export capacity amid ongoing shifts in global energy supply.

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Separately in pre-market AI developments, reports emerged that OpenAI plans to introduce an always-on AI agent at its upcoming DevDay, while Anthropic addressed regulatory and existential risks in its draft IPO filing. 2/2

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[by AI] NVDA, AMD: Nvidia and AMD have stepped up lobbying efforts directed at the White House regarding restrictions on semiconductor exports to China. 1/2

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Qalibaf stated that if Iran has no security, no energy infrastructure across the region will remain secure. The comments add geopolitical risk premiums to crude contracts during European morning trade. 2/2

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[by AI] Brent Crude, WTI Crude: Iranian Parliament Speaker Mohammad Bagher Qalibaf warned that no regional country will be permitted to export oil if Iran's oil sales are stopped. 1/2

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In Italy, industrial producer prices increased 2.4% month-on-month, pushing the annual PPI rate to 10.9% from 7.8%. Following the data, ECB policymaker Peter Kazimir stated that rate hikes were unavoidable and that energy costs remain a key inflationary driver. 2/2

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[by AI] EUR/USD, European Sovereign Bonds: Eurozone inflation indicators surprised to the upside. Spain's flash headline CPI rose to 4.9% year-on-year versus the 4.6% forecast, up from 4.3% previously, with HICP hitting 5.0%. 1/2