Trump<\/a> says U.S. to impose 100% tariff on movies madeoutside the country 3. ‘Battlefield’ maker Electronic Arts to go private inrecord-setting $55 billion LBO 4. U.S. SEC readies relief for asset managers to add ETFsto mutual funds 5. BOJ board’s hawkish flex lowers bar for an October ratehike<\/p>\nToday’s Key Market Moves<\/p>\n
* STOCKS: Wall Street indexes gain modestly, back nearrecord highs. China, Hong Kong stocks rise sharply, on signsthat Beijing’s crackdown on price wars is starting to bearfruit. * SHARES\/SECTORS: Energy sector slumps, tracking oil priceslower. Cannabis stocks jump after social media post by U.S.President Donald Trump over the weekend suggested potentialhealth benefits from the use of cannabidiol. * FX: U.S. dollar falls against major currencies, includingeuro and yen. * BONDS: U.S. 10-year Treasury yield dips, around 4.14%.Investors weighing shutdown risks. * COMMODITIES: Gold rises above $3,800 an ounce for thefirst time, as investors flock to the safe-haven asset.<\/p>\n
Today’s Key Talking Points<\/p>\n
* Shutdown bearing down<\/p>\n
Investors were girding for a U.S. federal government shutdown that could disrupt a wide range of services as soon as Wednesday. Trump was meeting with congressional leaders on Monday in a last-ditch effort to reach an agreement.<\/p>\n
Markets have largely shrugged off past shutdowns, but there were reasons to think this time could be different, with stocks trading at record highs and pricey valuations.<\/p>\n
One issue is the delay of economic data in the event of a shutdown, starting with the U.S. employment report due on Friday, and whether such delays might muddy the ability for the Federal Reserve to make monetary policy decisions.<\/p>\n
* Nearly three-quarters done<\/p>\n
Are we here already? Tomorrow marks the last day of the third quarter, which has been a bang-up period for U.S. stocks. The S&P 500 is up over 7% in the quarter, on track for its best third-quarter performance since 2020, while the tech-heavy Nasdaq Composite has gained nearly 11% in this quarter alone.<\/p>\n
The benchmark S&P 500 is well on its way to a third straight year of solid double-digit percentage gains.<\/p>\n
* L-B-Oh!<\/p>\n
In a jolt to the M&A landscape, video game developer Electronic Arts has agreed to sell itself to a group of private investors in a deal that valued it at $55 billion. That would be the largest leveraged buyout in history, if completed.<\/p>\n
The buyers of the videogame maker, whose titles include “Battlefield” and “Madden NFL,” are Saudi Arabia’s Public Investment Fund, Jared Kushner’s Affinity Partners and private equity firm Silver Lake.<\/p>\n
What could move markets tomorrow?<\/p>\n
* U.S. consumer confidence (September) * U.S. JOLTS job openings (August) * Japan retail sales (August) * Reserve Bank of Australia meeting<\/p>\n
Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.<\/p>\n
Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.<\/p>\n
(By Lewis Krauskopf, Editing by Nia Williams)<\/p>\n","protected":false},"excerpt":{"rendered":"By Lewis Krauskopf (Reuters) -TRADING DAY Making sense of the forces driving global markets By Lewis Krauskopf, Markets…\n","protected":false},"author":2,"featured_media":461516,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5311],"tags":[15255,22668,151474,1757,49,978,659],"class_list":{"0":"post-461515","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-united-states","8":"tag-electronic-arts","9":"tag-global-markets","10":"tag-government-shutdown","11":"tag-trump","12":"tag-united-states","13":"tag-us","14":"tag-usa"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115289936646821042","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/461515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=461515"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/461515\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/461516"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=461515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=461515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=461515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}