THS LIVE | Brent Drops to $104, 10-Year to 4.88% & What We Know About Iran
Oil blinked, but nobody here believes it. Brent has dropped to about $105 from $115 going into Friday's show, and the 10-year slid to 4.88%, a one-month low, yet the Nasdaq 100 is flat at 28,515 after the $5 trillion AI wipeout. Why the calm? Trump is mulling "another little Epic Fury" after Tuesday's midterms, a third carrier is heading to the region, and Khamenei ordered a response "without any geographical limitations," including financial assets. Fitch also hit France with a surprise outlook downgrade Saturday. Add jobs data and Apple earnings and this is the loaded week of the fall. We break down what gets priced before Tuesday night.
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🔗 Resources:
A Stock Market Smackdown Week: Elections, Jobs Data, Iran And Earnings (Yahoo! Finance)
Stock futures open a monster week after a $5 trillion AI wipeout (Yahoo! Finance)
Trump Says Iran War Will End 'One Way or the Other' Ahead of Midterms Tuesday: Dow Futures Rise 184 Points, Brent Crude Falls to $111 (Benzinga News)
Iran vows response beyond Mideast and target financial assets; oil markets fear generational damage (Fortune)
Iran's Araghchi Hopes For 'Rationality' From US Amid Signs Renewed War Could Erupt (ZeroHedge)
Shipping Strikes In Hormuz Leave Both Sides With Economic Pain (Bloomberg Economics)
Rating agency Fitch hits France with unscheduled outlook downgrade (FT Markets)
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