Are Rare Earth Materials the New AI?
What’s in Today’s Report:
- Are Rare Earth Materials the New AI?
- Precious Metals Update – Is the Gold Rally Over?
Futures are steady this morning amid a mostly quiet macroeconomic backdrop with tech shares lagging after NFLX (-6.5%) and TXN (-7.7%) missed on earnings after the close yesterday.
Economically, U.K. CPI was unchanged at 3.8% vs. (E) 4.0% y/y in September, further easing global inflation worries.
There are no economic reports today and just one Fed official scheduled to speak later in the day: Barr (4:00 p.m. ET).
The Treasury will hold auctions for 4-Month Bills (11:30 a.m. ET) and 20-Yr Bonds (1:00 p.m. ET) which could impact fixed income markets and subsequently move equities amid an otherwise mostly quiet day today.
Finally, on the earnings front, we will get quarterly results from GEV ($1.78), T ($0.55), TMO ($5.50), TSLA ($0.41), IBM ($2.43), KMI ($0.28), and CME ($2.63) today with TSLA being in the spotlight as the first Mag-7 member to release earnings this season.