SPX

Barclays sees 2% U.S. growth pace through 2026, flags risks from tariffs and jobs

• Barclays projects U.S. GDP growth will average 2% q/q through mid-2026, with tariffs exerting only gradual drag as firms stagger cost pass-throughs. It sees rising joblessness and weaker consumption as the main downside risks.

ICYMI: Deutsche Bank upgrade Europe vs US, sees 12–16% upside. Stimulus & earnings rebound

• Deutsche Bank has turned bullish on European stocks versus the U.S., forecasting 12–16% upside through 2026. The upgrade reflects expected earnings growth, Germany’s fiscal stimulus, low valuations, and easing trade tensions. Europe's long-run lag behind U.S. equities may finally reverse.

Global investors crowd into gold as bullish sentiment hits eight-month high — BofA survey

• Bank of America’s latest Global Fund Manager Survey shows investors turning risk-on, with equity allocations at an eight-month high and cash at multi-year lows. “Long gold” has overtaken tech as the most crowded trade, reflecting fears of inflation, dollar debasement, and geopolitics.

Greer adds fuel to the rebound, S&P 500 now nearly flat on the day

• Huge comeback

Ugly open for US stock markets as selling intensifies

• S&P 500 down 91 points, or 1.34%

JPMorgan blames leveraged ETFs for worsening Wall Street selloff, warns of more to come

• JPMorgan says about $26 billion in leveraged ETF selling worsened Friday’s Wall Street rout triggered by Trump’s tariff threats. Analysts warn more volatility could follow as demand for high-leverage products grows, with issuers pushing for 3x ETFs despite recent blowups.

BofA says AI boom unlike dot-com bubble; Nvidia remains top chip pick

• Bank of America says the AI data-centre boom differs sharply from the dot-com bubble, citing strong chip utilisation, healthy cash flows, lower valuations, and a friendlier rate environment.

China auto industry body CPCA: Tesla Inc exported 19,287 China-made vehicles in September

• EV maker Tesla exports from China data

As many as 100K cars could be part of Australian class action suit launched against Tesla

• Australian Tesla owners launch class action over failed Full Self-Driving promises

Australian stock traders note: ANZ to cancel remaining A$800 million portion of buyback

• ANZ will halt the final A$800 million of its share buyback Plans a 1.5% discount on dividend reinvestment plans after recent penalties and compliance issues.

Reminder, US stock markets are open on Monday (bonds closed) despite the holiday

6.30am in Beijing. Traders might exercise caution, await China's response to Trump's cave

• While Trump has been very quick to back down from his threats we have not yet had a response to his overtures from China.

US stocks surge higher at reopening of the week - loving the rapid Trump cave in on China

• Globex has opened with a huge jump higher from Friday's late levels

US stock market close: Nasdaq falls 3.5%

• The trade war is back on

We are on track for the first 2% decline in the S&P 500 since April 4

• It's been a long time since we had a rough day