US WARNS SHIPS TO AVOID STRAIT OF HORMUZ
The US military has advised vessels to avoid unnecessary transits through the Strait of Hormuz, citing potential delays from blockade enforcement.
Iranian attacks on ships have approached 30 in October, although Gulf oil flows have recovered to near prewar levels.
(@WalterBloomberg)
The US military has advised vessels to avoid unnecessary transits through the Strait of Hormuz, citing potential delays from blockade enforcement.
Iranian attacks on ships have approached 30 in October, although Gulf oil flows have recovered to near prewar levels.
(@WalterBloomberg)
👎11👍6
US WARNS GULF ALLIES OF POSSIBLE NEW IRAN STRIKES AFTER MIDTERMS
The US has warned several Gulf Arab countries to prepare for a short, intense military campaign against Iran after the November midterm elections, according to The Wall Street Journal.
US forces are reportedly reinforcing missile defenses, replenishing munitions, and positioning additional warships and aircraft.
Trump has not made a final decision, with diplomatic negotiations remaining an alternative.
(@WalterBloomberg)
The US has warned several Gulf Arab countries to prepare for a short, intense military campaign against Iran after the November midterm elections, according to The Wall Street Journal.
US forces are reportedly reinforcing missile defenses, replenishing munitions, and positioning additional warships and aircraft.
Trump has not made a final decision, with diplomatic negotiations remaining an alternative.
(@WalterBloomberg)
👎14👍5
UBS RAISES BRENT OIL FORECAST TO $110 AS MIDDLE EAST RISKS PERSIST
UBS raised its year-end Brent crude forecast to $110 per barrel from $100, citing Middle East supply disruptions, declining inventories, and record shipping costs.
The bank also lifted its March 2027 target to $95 and June 2027 target to $90.
Global visible oil inventories have fallen by more than 500 million barrels since February, while tanker freight costs from the Middle East to China have surged to $30–$40 per barrel.
(@WalterBloomberg)
UBS raised its year-end Brent crude forecast to $110 per barrel from $100, citing Middle East supply disruptions, declining inventories, and record shipping costs.
The bank also lifted its March 2027 target to $95 and June 2027 target to $90.
Global visible oil inventories have fallen by more than 500 million barrels since February, while tanker freight costs from the Middle East to China have surged to $30–$40 per barrel.
(@WalterBloomberg)
👍6👎1
$AAPL - APPLE PRICE TARGET RAISED TO $355 AHEAD OF EARNINGS
Monness, Crespi, Hardt analyst Brian White raised Apple's price target to $355 from $335, maintaining a Buy rating ahead of its November 2 earnings report.
The analyst highlighted Apple's product innovation and expanding Apple Intelligence capabilities, with a potential OLED touchscreen MacBook Pro unveiling adding momentum.
The report will mark CEO John Ternus's first earnings call, although supply constraints and macroeconomic risks remain concerns.
(@WalterBloomberg)
Monness, Crespi, Hardt analyst Brian White raised Apple's price target to $355 from $335, maintaining a Buy rating ahead of its November 2 earnings report.
The analyst highlighted Apple's product innovation and expanding Apple Intelligence capabilities, with a potential OLED touchscreen MacBook Pro unveiling adding momentum.
The report will mark CEO John Ternus's first earnings call, although supply constraints and macroeconomic risks remain concerns.
(@WalterBloomberg)
US HOUSING SHOWS SIGNS OF STABILIZATION BUT REMAINS WEAK
US mortgage applications rose 3.4% last week, their first increase since August, as 30-year mortgage rates eased to 7.41% from 7.50%.
However, September new home sales slipped to 676,000 annualized units from 680,000, while the median selling price fell 3.9% year over year.
Housing inventory declined slightly to 8.4 months of supply, still indicating a weak market.
(@WalterBloomberg)
US mortgage applications rose 3.4% last week, their first increase since August, as 30-year mortgage rates eased to 7.41% from 7.50%.
However, September new home sales slipped to 676,000 annualized units from 680,000, while the median selling price fell 3.9% year over year.
Housing inventory declined slightly to 8.4 months of supply, still indicating a weak market.
(@WalterBloomberg)
US TRADE DEFICIT HITS LARGEST LEVEL SINCE MARCH 2025
The US goods trade deficit widened 2.1% to $134.9 billion in September, exceeding economists' expectations of $130.2 billion.
Imports rose 2.4%, driven by a 7.5% surge in capital goods, including computers, semiconductors, and telecommunications equipment supporting AI data center expansion.
Exports increased 2.6%, but failed to offset the growing import bill.
(@WalterBloomberg)
The US goods trade deficit widened 2.1% to $134.9 billion in September, exceeding economists' expectations of $130.2 billion.
Imports rose 2.4%, driven by a 7.5% surge in capital goods, including computers, semiconductors, and telecommunications equipment supporting AI data center expansion.
Exports increased 2.6%, but failed to offset the growing import bill.
(@WalterBloomberg)
👏7👍2
FED PAUSE TODAY. TWO MORE HIKES AHEAD?
UBS expects two additional Fed rate hikes by mid-2027, yet sees the S&P 500 reaching 8,400 by June.
For today’s decision, Kalshi traders price a 95% chance of unchanged rates, versus just 6% for a hike.
Wall Street sees more tightening ahead, but not today.
(@WalterBloomberg)
UBS expects two additional Fed rate hikes by mid-2027, yet sees the S&P 500 reaching 8,400 by June.
For today’s decision, Kalshi traders price a 95% chance of unchanged rates, versus just 6% for a hike.
Wall Street sees more tightening ahead, but not today.
(@WalterBloomberg)
👍5👏2
👏4👍2
WOLFE RESEARCH SEES STRONG UPSIDE FOR SK HYNIX
Wolfe Research reiterated its Outperform rating on SK Hynix ($SKHY ) with a $250 price target, citing strong demand for high-bandwidth memory (HBM) used in AI infrastructure.
Analyst Chris Caso sees potential upside from HBM pricing, increased memory production, and attractive valuation at approximately 4.5 times bull-case earnings.
Wolfe also estimates SK Hynix could generate enough free cash flow to repurchase 28% of its shares over two years, assuming its projected shareholder-return policy.
(@WalterBloomberg)
Wolfe Research reiterated its Outperform rating on SK Hynix ($SKHY ) with a $250 price target, citing strong demand for high-bandwidth memory (HBM) used in AI infrastructure.
Analyst Chris Caso sees potential upside from HBM pricing, increased memory production, and attractive valuation at approximately 4.5 times bull-case earnings.
Wolfe also estimates SK Hynix could generate enough free cash flow to repurchase 28% of its shares over two years, assuming its projected shareholder-return policy.
(@WalterBloomberg)
👍7👏1
PUTIN CALLS ELON MUSK A “TRUE GENIUS” AS RUSSIA DEVELOPS STARLINK RIVAL
Russian President Vladimir Putin praised Elon Musk as “a true genius” during the Russia-Africa Summit in Moscow, highlighting SpaceX’s achievements in satellite communications.
Putin said Russia is in contact with Musk as it begins deploying its domestic Rassvet satellite network, designed as an alternative to SpaceX’s Starlink.
He acknowledged Russia remains far behind SpaceX, which has thousands of satellites in orbit.
(@WalterBloomberg)
Russian President Vladimir Putin praised Elon Musk as “a true genius” during the Russia-Africa Summit in Moscow, highlighting SpaceX’s achievements in satellite communications.
Putin said Russia is in contact with Musk as it begins deploying its domestic Rassvet satellite network, designed as an alternative to SpaceX’s Starlink.
He acknowledged Russia remains far behind SpaceX, which has thousands of satellites in orbit.
(@WalterBloomberg)
👎10👍1
*FLÁVIO BOLSONARO LANDS IN MIAMI, CNN BRASIL SHOWS
(@WalterBloomberg)
(@WalterBloomberg)
👍7👎6
EUROPEAN BENCHMARK GAS PRICE RISES TO €100/MWH FOR FIRST TIME SINCE DECEMBER 2022
(@WalterBloomberg)
(@WalterBloomberg)
👏5👎1
Forwarded from The Kobeissi Letter
It's officially Fed day.
We expect a "hawkish pause" today.
The Fed will hold interest rates unchanged but lay the groundwork for a December rate hike, bringing total rate hikes in 2026 to +50 basis points.
Why?
Because the US economy is now facing both supply-side and rising demand-side inflationary pressures, while the labor market continues to weaken beneath the surface.
This puts the Fed in an increasingly difficult position: Inflation is demanding tighter monetary policy, while underlying labor market weakness is calling for the opposite.
We expect the Fed to prioritize inflation today, keeping the door open for further tightening in December.
(@TheKobeissiLetter)
We expect a "hawkish pause" today.
The Fed will hold interest rates unchanged but lay the groundwork for a December rate hike, bringing total rate hikes in 2026 to +50 basis points.
Why?
Because the US economy is now facing both supply-side and rising demand-side inflationary pressures, while the labor market continues to weaken beneath the surface.
This puts the Fed in an increasingly difficult position: Inflation is demanding tighter monetary policy, while underlying labor market weakness is calling for the opposite.
We expect the Fed to prioritize inflation today, keeping the door open for further tightening in December.
(@TheKobeissiLetter)
👍5👏2👎1
BANK OF CANADA RAISES GROWTH AND INFLATION FORECASTS
The Bank of Canada raised its 2026 GDP growth forecast to 1.0% from 0.7%, while lifting its 2027 projection to 2.0% from 1.8%.
Inflation forecasts increased more sharply, reaching 2.9% for 2026 and 3.1% for 2027, up from 2.5% and 2.0%, respectively.
The bank also expects Brent crude to average around $100 per barrel in Q4, before gradually declining toward $75 by the end of 2028.
(@WalterBloomberg)
The Bank of Canada raised its 2026 GDP growth forecast to 1.0% from 0.7%, while lifting its 2027 projection to 2.0% from 1.8%.
Inflation forecasts increased more sharply, reaching 2.9% for 2026 and 3.1% for 2027, up from 2.5% and 2.0%, respectively.
The bank also expects Brent crude to average around $100 per barrel in Q4, before gradually declining toward $75 by the end of 2028.
(@WalterBloomberg)
👏6
*KREMLIN: DATE OF TRILATERAL TALKS TO BE ANNOUNCED SOON: IFX
(@WalterBloomberg)
(@WalterBloomberg)
👍7👎2
KREMLIN SAYS EUROPEANS WILL NOT TAKE PART IN TRILATERAL TALKS ON UKRAINE - IFAX
(@WalterBloomberg)
(@WalterBloomberg)
👎6👍5
GOLDMAN SACHS SEES LIMITED FED HIKES, POTENTIAL STOCK MARKET RALLY
Goldman Sachs expects just one additional Fed rate hike, compared with three currently priced by markets, suggesting the current tightening cycle could be among the smallest since 1983.
Strategist Vickie Chang highlighted historically strong equity performance following limited tightening cycles: the S&P 500 gained 34% in the year after the 1997 hike and 9% following the 2015 hike.
(@WalterBloomberg)
Goldman Sachs expects just one additional Fed rate hike, compared with three currently priced by markets, suggesting the current tightening cycle could be among the smallest since 1983.
Strategist Vickie Chang highlighted historically strong equity performance following limited tightening cycles: the S&P 500 gained 34% in the year after the 1997 hike and 9% following the 2015 hike.
(@WalterBloomberg)
👍9👎5👏1
INVESTORS PULL $18.5 BILLION FROM US STOCKS IN TWO WEEKS
Bank of America clients sold a net $3.5 billion in US equities last week, following $15 billion in outflows the previous week.
According to BofA analysts Jill Carey Hall and Trey Brown, retail investors led the selling.
Communication services recorded its largest weekly outflow since tracking began in 2018, affecting a sector that includes Meta ($META). Industrials also faced heavy selling, marking their 13th consecutive week of outflows.
(@WalterBloomberg)
Bank of America clients sold a net $3.5 billion in US equities last week, following $15 billion in outflows the previous week.
According to BofA analysts Jill Carey Hall and Trey Brown, retail investors led the selling.
Communication services recorded its largest weekly outflow since tracking began in 2018, affecting a sector that includes Meta ($META). Industrials also faced heavy selling, marking their 13th consecutive week of outflows.
(@WalterBloomberg)
👏6👍2👎1
EU SET TO SCRAP ‘ASSOCIATE MEMBER’ STATUS OFFER FOR CANADA - POLITICO
(@WalterBloomberg)
(@WalterBloomberg)
👎8👍5👏4