To The Moon

Wall Street experiences its first consecutive decline since September.

🇺🇸 S&P 500 Index -0.05% 📉

🇺🇸 Nasdaq: +0.18% 📈

🇪🇺 Stoxx 600 Index: -0.21% 📉

🇯🇵 Nikkei 225 Index: -1.39% 📉

🇭🇰 Hang Seng Index: +0.11% 📈

🇨🇳 CSI 300 Index: +0.58% 📈

🇸🇬 Straits Times Index: -0.75% 📉

The S&P 500 Index $S&P 500(.SPX)$  fell by -0.05%, while the Nasdaq $NASDAQ(.IXIC)$  rose by +0.2%, as investors grappled with ongoing concerns over potential interest rate hikes and assessed this week's latest earnings reports.

The Nikkei 225 Index $Nikkei 225 Exchange Traded Fund(NTETF)$   dropped by -1.39%, driven down by declines in the chemicals, oil, and plastics, rubber, and power sectors.

💡 Upcoming Events: 💡

On Wednesday, the preliminary consumer confidence index for the EU will be released.

On Thursday, investors will focus on the US S&P Global Manufacturing and Services PMI, unemployment claims, the EU HCOB Manufacturing and Services PMI preliminary figures, Japan's Jibun Bank Manufacturing and Services PMI preliminary figures.

By the end of the week, we will see the announcement of China's one-year Medium-term Lending Facility rate on Friday, and Japan's elections on Sunday.

💡 Things to Know Today: 💡

1. The International Monetary Fund has lowered its global growth forecast for the coming year and warned of increasing risks, from war to the rise of trade protectionism.

2. Under new CEO Georges Elhedery, HSBC Holdings $HSBC Holdings PLC(HSBC)$ has undergone a significant restructuring, merging certain businesses and dividing its geographical distribution into East and West. The restructuring also includes the appointment of the bank's first female CFO.

HSBC CEO

3. ASML Holding NV $ASML Holding NV(ASML)$  CEO Christophe Fouquet expects the U.S. to increase pressure for further restrictions on the sale of semiconductor technology to China.

ASML CEO

4. Hezbollah announced that on Tuesday morning, it launched rockets at two bases near Tel Aviv and one base west of Haifa, just hours before U.S. Secretary of State Antony Blinken arrived in Israel to strengthen efforts to reach a challenging ceasefire agreement.

Hezbollah

5. General Motors' $General Motors(GM)$ stock surged over 9%, marking its best single-day performance in nearly a year. This increase followed the company's third-quarter earnings that exceeded Wall Street expectations and an upward revision of its full-year earnings outlook.

General Motors

✅ Key Point:

Callie Cox of Ritholtz Wealth Management said: The president does not control the market. As Election Day approaches, be prepared for fluctuations in market sentiment. But remember, the storms triggered by elections often dissipate quickly.

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