🌅 Today's Morning Call
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S&P Futures
7,850.75
▲ +11.25 (+0.14%)
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Nasdaq Futures
31,236.25
▲ +122.25 (+0.39%)
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Dow Futures
51,592.00
▼ -3.00 (-0.01%)
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10Y Treasury
5.23%
▼ -0.05%
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US Dollar
102.17
▲ +0.15 (+0.14%)
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Bitcoin
$83,232
▲ +$1,539 (+1.88%)
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Data as of 8:07 AM ET
Good morning! Happy Friday, and welcome to the final trading session of the week. Futures are painting a mixed picture with the Nasdaq out front, Treasury yields are backing off, and Apple is quietly trimming iPhone 18 Pro orders. Let's break down what matters today.
👀 What to Watch Today
The headline act this morning is Apple (AAPL). Nikkei Asia reports the company told suppliers to cut production of components for the iPhone 18 Pro and Pro Max on softer-than-expected demand. Watch how that ripples through the supply chain and whether the broader tech tape shrugs it off.On the macro front, keep one eye on Washington. Treasury Secretary Scott Bessent named Judy Shelton, the Trump-era Fed pick the Senate blocked, as a counselor advising on currency policy. With the DXY at 102.17 and climbing, dollar-policy chatter could nudge rate-sensitive names.
With 10-year yields easing to 5.23 percent, growth and tech names have a little tailwind heading into the open. Nasdaq futures are up 0.39 percent while the Dow sits flat, so the rotation story is worth tracking all session.
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Overseas, the big story is capital chasing AI. The Financial Times reports SoftBank (SFTBY) CEO Masayoshi Son is seeking up to 100 billion dollars from Gulf investors to fund a fresh wave of AI bets. That is a staggering number, and it kept Asian tech sentiment lively overnight.In Europe, Kering made waves in luxury land, ending Anthony Vaccarello's decade-long run as creative director at Saint Laurent amid a broader revamp. Luxury names have been under pressure, and leadership shakeups like this one signal the sector is fighting to reignite demand.
Elsewhere, Paramount (PSKY) is developing a live-action Cyberpunk 2077 film, lifting shares of Poland's CD Projekt RED (OTGLY). Bitcoin added 1.88 percent to roughly 83,232 dollars overnight, keeping risk appetite warm into the US open.
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📊 Pre-Market Movers
Tesla (TSLA) is one to watch after its China-made EV sales rose 5 percent in September year over year, up from 3.6 percent in August, with the European rebound continuing. The momentum story could give the stock a lift at the bell.SpaceX (SPCX) is catching a bid after Barclays analyst Anthony Valentini initiated coverage with a Buy rating and a 254 dollar price target. Fresh analyst conviction on a high-profile name tends to draw eyes early.
Apple (AAPL) sits on the other side of the ledger, with those iPhone 18 Pro order cuts likely weighing in pre-market. Meanwhile Meta (META) is back in the cultural conversation as Aaron Sorkin's Facebook whistleblower drama, The Social Reckoning, puts the spotlight on the company again.
🔍 Today's Watchlist
- AAPL: iPhone 18 Pro order cuts and any supplier fallout across the chip and component chain.
- TSLA: China sales acceleration and the ongoing European rebound as momentum builds.
- AI funding theme: SoftBank's reported 100 billion dollar Gulf raise and ripple effects across chip and infrastructure names.
- Rates and dollar: 10-year at 5.23 percent and DXY at 102.17 after Bessent names Judy Shelton currency adviser.
- Bitcoin above 83,000: risk appetite gauge as crypto adds nearly 2 percent overnight.
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🎯 The Morning Playbook
The setup today favors selectivity over sweeping bets. With yields easing and Nasdaq futures leading, the tech and growth corners have the wind at their back, but Apple's order cuts are a reminder that even megacaps face demand questions.Lean into the themes with real catalysts: Tesla's China reacceleration, the AI funding frenzy underscored by SoftBank's 100 billion dollar push, and fresh analyst love for names like SpaceX. Those are stories with momentum, not noise.
Keep the dollar and rates on your dashboard given the Shelton appointment and currency-policy angle. Trade the catalysts you can see, respect your risk levels, and finish the week on your terms. You've got this.
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