🎢Equity market roller coaster the session💎

Stocks swung between gain and loss and finished higher as investors looked ahead to the earnings from Big Tech this week. On the backdrop of the uncertainty lie the Fed. There is a need for greater clarity on when the tightening will stop. Yet, as inflation remains above 8%, it complicates the narrative for the Fed to pivot. 

💣Chinese counters are dropping fast💸

A less harmonious relationship between the private economy and the political economy set the tone for risk-off in Chinese, counters ADR as President Xi set for his third term. He has firmer power after the Chinese Communist Party fills his top loyalists with crucial leadership posts. 

Such a move allows him to maintain his ideological policy on a global skill. As the US tried to close significant loopholes surrounding the supply of sophisticated chips to China, there is also concern about the engagement of both countries with a view of national security concerns, dampening deeper collaboration into the future. 

As the Congress meeting began and ended with an emphasis on security and risk, little attention was given to economic objectives or a slight hint of the re-opening of the economy. This disappoints investors as they worry about a continued crackdown on the technological sector of the economy. 

📮What’s on the menu today?📖

At 10 pm, we will receive the CB Consumer Confidence index for October, which we expect to moderate to 106.5 from 108.0. 

There will also be a stream of the earnings release, and we will maintain the conservative end of our trading for the week.