Russell Shor

The DAX is benefitting from the pullback in yields, as a risk-on sentiment tries to take hold. To this end, FXCM’s GER30 is showing signs of positivity.

Rivian (RIVN.us) shares remain under pressure with its price candlesticks below its black 30-week EMA and the EMA turned down. Its weekly RSI is also below 50 (green rectangle), suggesting a negative underlying momentum.

In a previous article we suggested that the NAS100 had a downtrend bias to it. Price action has evolved to a point where it seems that a descending triangle (green trendlines) has charted on the weekly time frame. Assuming this to be the case, a breakout or breakdown from the pattern will have bullish or bearish implications.

JPMorgan Chase & Co. (JPM.us) is set to lead the charge as the third quarter earnings season for the banking sector commences on October 13th, right before the market's opening bell. Joining the ranks on the same day are Citigroup Inc. (C.us) and Wells Fargo & Co. (WFC.us), who will also unveil their financial results.

The USDOLLAR is considered the current haven of choice. Given the conflict in the middle east, FXCM’s USDOLLAR basket is bid.

The Non-Farm Employment Change (NFP) came in close to double what was forecast by the market, printing at 336K (vs. 171K expected). In response the US 10-year real rate jumped 4.47% to reach a high of 2.57%, its highest level since December 2008.

Recording of NFP Trade.

On Thursday Tesla (TSLA.us) cut its prices on its Model 3 and Model Y vehicles in the US.

Netflix is planning to raise prices when the current actors strike ends. The Wall Street Journal reported on Tuesday that the company will raise the price of its ad-free streaming tier at the conclusion of the strike. The amount of the increase is as yet undecided but is likely to be similar to competitor pricing. This comes off the back of Netflix focusing on initiatives such as the ad free…

Oil has dropped substantially this week and particularly over the last twenty-four hours. Currently, Brent crude (UKOil) is down around 8.6% for the week and is trading near $84, and WTI (USOil) is down 9.2% for the week to trade near $82.45.

Rivian (RIVN.us) has given disappointing guidance and wants to raise more funds by issuing convertible notes.