- As diplomatic efforts to contain the Israel-Hamas conflict continued, US equity futures fluctuated and Treasuries fell.
- Following last week's rush into haven assets, markets were generally calmer on Monday, as investors await further developments in the Middle East. The war is an added worry for traders who are already preoccupied with interpreting the outlook for the economy and interest rates as the latest earnings season gets underway.
- After a drop on Wall Street at the end of last week, S&P 500 and Nasdaq 100 contracts have stabilised. Pfizer fell in premarket trading after lowering its revenue and earnings forecasts. Apple fell after a study revealed that the new iPhone's sales were disappointing. Recent gains in oil prices boosted European energy stocks, with Shell reaching a new high.
- Treasury 10-Yr yields rose, recouping some of last week's 19 basis-point decline. Brent crude oil remained near $91 per barrel after rising nearly 6% on Friday. Gold dropped fell.
- BoE's Pill: Falling inflation is not enough to say that the job is done.
- iPhone 15 sales down 4.5% in China debut vs 2022 - Counterpoint.
