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13:47 · 31 October 2022

US OPEN: Wall Street loses amid higher EMU inflation reading

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The start of Monday's session on Wall Street brings a lower opening for most stock market benchmarks.  Investors' attention today is focused on a higher EMU inflation reading, which surprised the market and puts a possible ECB Pivot in question.

Data: 

US Chicago PMI Oct: 45.2 (est 47.0; prev 45.7)

The market is now pricing in an 80% chance of a 75 basis point rate hike at the Fed's November meeting. Source: Bloomberg

US index quotes. Source: xStation 5

Compiled charts of the US500 and VIX index on the D1 interval. The benchmark of the largest companies in the US is starting today's session lower. The VIX fear index is losing nearly 0.1% today. Source: xStation 5

News:

  • Caterpillar (CAT.US) shares are losing more than 1.2% at the opening of today's session following UBS' downgrade of its recommendation on the company's shares. The bank stated that the downgrade to "neutral" better reflects the current opportunity/risk mix, no less in the long term the optimistic rating remains unchanged.

  • Wynn Resorts (WYNN.US) shares are up more than 4% on the back of Tileman Feritt's acquisition of more than 6.1% of the group.

News from US companies. Source: Bloomberg

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