The Market Brief
Hey team. Futures are rebounding following yesterday’s selloff, with Tesla surging 11% amid optimism surrounding megacaps earnings with the volatility being far from over.
Let’s re-cap yesterday’s session and see what’s next!
Impact Snapshot
🟥 Unemployment Claims - 8:30am
🟥 Flash Manufacturing/Services PMI - 9:45am
Macro Viewpoint
Futures for the S&P 500 and Nasdaq climbed on Thursday after Tesla's optimistic forecast set a positive tone for megacap earnings. TSLA 0.00%↑
Wall Street experienced a sell-off on Wednesday, marking the S&P 500's third consecutive decline, while the Nasdaq recorded its worst performance since early September.
U.S. markets are approaching record highs, but a mix of earnings reports, shifting monetary policy expectations, and the upcoming presidential election may challenge the rally and increase volatility.
S&P Global flash PMIs and weekly jobless claims data are due on the day, while the Cleveland Fed's Beth Hammack is scheduled to speak.
