top stories of 17 October
every morning: the most covered market stories of the past day. by email, on telegram and here.
New cracks in the AI trade push Wall Street to its worst week since June
The Nasdaq composite fell 4.5% on Friday as fears over higher borrowing costs and AI spending hit tech stocks, according to The Wall Street Journal.
Bond · Treasury Notes — 2 sources
US crude rebounds past $100 a barrel, first time in a month
WTI futures gained 3.5% to settle above $100 for the first time in a month amid Hormuz shipping attacks and fears the Russia-Ukraine energy truce is collapsing.
Futures — 2 sources
Oil Climbs Above $100 as Ukrainian Strikes on Refineries Add to Hormuz Worries
Brent settled near $110 and WTI rose above $100 as Ukraine hit Russian refineries and shipping risks grew, even as the IEA expanded its emergency stock release.
Futures — 2 sources
Attacks in Hormuz and Bab al-Mandeb Cut Oil Flows Through Key Straits
According to CNN, Iranian attacks on tankers near Hormuz and Houthi action at Bab al-Mandeb have sharply reduced oil flows, with Brent above $100.
Middle East · Oil · Energy · War — 1 source
Brent climbs above $110, its highest since May, as WTI breaks $100
Brent rose to $110 a barrel and WTI topped $100 as Middle East shipping risks and Ukrainian refinery strikes tightened supply, per Seeking Alpha.
Futures — 1 source
Investors Pull Back on Fed October Hike Bets After Warsh Remarks
CME Group data show odds of a Fed rate hike at the October 27-28 meeting fell to 15% from 28% a day earlier, the Wall Street Journal reports.
Economy · Monetary Policy · Inflation — 1 source
Wall Street slides on AI trade worries and high oil prices
US stocks tumbled Friday as AI-linked shares came under pressure and an oil price jump unsettled traders heading into the weekend.
Leadership change — 3 sources
Gold heads for weekly loss as traders weigh more Fed rate hikes
Gold is on track for a weekly decline as investors assess the chance of further Fed rate hikes after hotter-than-expected US inflation data, according to TradingView.
Futures — 3 sources
US Stocks Slide as Credit Worries Weigh on Tech Sector
US indexes finished the week lower as the Nasdaq fell 2.14% amid concerns over CoreWeave's debt load and rising borrowing costs.
Bond · Treasury Notes · Futures — 2 sources
SoftBank weighs roughly $18 billion purchase of Allied Universal
SoftBank is considering buying US security services firm Allied Universal in a deal that could value it at about $18 billion, sources say.
Stock · Japan · United States — 2 sources