What Matters Today in Markets - Tuesday 13th October - Dow up +195pts, SPI up +9pts

Bit of a mixed session played out on Wall Street last night.

Industrial stocks, uh, up, but, uh, tech stocks led by the chip makers were lower.

Uh, Dow up a hundred and ninety-five points, point four percent on the upside.

Nasdaq was down point seven.

Uh, S&P was pretty flat.

Russell 2000 was down about half a percent.

Uh, we had a reasonable session yesterday on the ASX.

We're up sixty-six points.

We'll take that.

Um, uh, eighty-seven eighty-three for the ASX 200.

As we've written in the last few notes, we think there's probably a pivot low in place for the Aussie market.

Uh, we go into what's a better seasonal period, uh, for the markets.

We wrote about the reasons to remain, uh, optimistic on Aussie equities in the near term.

Uh, we've got SPI futures up nine points this morning, so pretty quite open.

Ahead of, uh, US earnings season, which is starting to, um, uh, which will start to ramp up this week.

So we've got a bunch of the banks reporting tonight over in the US, um, uh, and tomorrow as well.

So tonight we've got Goldman's, JP, Citigroup, Wells Fargo, uh, and then Bank of America and Morgan Stanley are out on Wednesday night.

So we're gonna get a good handle on US earnings.

Third quarter earnings, that is, uh, over in the US market.

Uh, consensus is for, uh, profits to be up twenty-five percent, uh, relative to this time last year, so, uh, third quarter of twenty-twenty-five.

So obviously that's good earnings growth over in the US.

That's why the US market has been able to withstand the rise of bond yields, uh, in the last little while.

Uh, but we'll s-- we'll obviously get a, a good update on how earnings are progressing over there.

We'd like to see the, the equity-- the, uh, earnings base broaden.

That may not happen this earnings season, but it would be good if it, if it did.