Housekeeping: Good Morning.
“The Gold reset is a process, not an event”
Today:
Analysis: The Next $500 and The Next $100
Premium Discussion: The Next $3.3Billion of In flows
Premium Analysis: The Next $500 and The Next $100
(Transcription attached at Bottom)
News Analysis:
Equity Recap:
US equities closed mostly flat on Wednesday ahead of September's jobs report on Friday. Large caps bested small caps: S&P 500 (+0.01%) vs. Russell 2000 (-0.09%). MSCI Emerging Markets (EEM) gained 1.97% and MSCI EAFE (EFA) lost 0.20%.
Market News:
"Costco launched platinum bars on its website for $1,089.99, an addition to the company’s precious metals selection of gold bars and silver coins. Gold bars launched at Costco in August 2023, and not even two months later were selling out within hours of a restock." Source: CNBC
"OpenAI has asked investors to avoid backing rival start-ups such as Anthropic and Elon Musk’s xAI, as it secures $6.6bn in new funding and seeks to shut out challengers to its early lead in generative artificial intelligence.FT
"The Saudi oil minister has said prices could drop to as low as $50 per barrel if so-called cheaters within OPEC+ don’t stick to agreed-upon production limits, according to delegates in the cartel. The remarks were interpreted by other producers as a veiled threat from the kingdom that it is willing to launch a price war to keep its market share if other countries don’t abide by the group’s agreements... Key members of an alliance made of [OPEC] and its allies... agreed on Wednesday to ease production curbs in December." Source: WSJ
Politics/Geopolitics:
IDF orders another 25 villages evacuated in southern Lebanon, according to ELINT News
"An Israeli infantry group and vehicles retreat beyond the Blue Line after infiltrating towards the town of Maroun al-Ras", according to Al Jazeera
Israeli Military said it assassinated head of Hamas government Rawhi Mushtaha in Gaza strip.
Pro-Iranian factions target an international coalition base in north-eastern Syria, via Sky News Arabia.
Israeli official cited by Yedioth Ahronoth said there are no limits to the response to Iran, according to Al Arabiya.
Iran’s President vowed a stronger response if Israel retaliates.
Data on Deck: Unemployment
MONDAY, SEPT. 30 Chicago Business Barometer (PMI)
TUESDAY, OCT. S&P final U.S. manufacturing PMI
WEDNESDAY, OCT. 2 ADP employment
THURSDAY, OCT. 3 S&P final U.S. services PMI
FRIDAY, OCT. 4 U.S. employment report1
FINAL MARKET CHECK
