Dax hit a record high and European stocks rose the most in 3 weeks as the ECB cut interest rates
Events to watch on Thursday include quarterly results from Netflix, regional US banks and private equity group Blackstone, retail sales data and presidential campaign events.
Economy: US retail sales are forecast to rise 0.3% month-on-month in September, after rising 0.1% in August, a possible sign that US consumer spending is slowing down. continue to support economic growth. Additionally, new unemployment claims are expected to rise to 260,000 in the week ending October 12, from 258,000 the previous week.
Slat: Investors will want to know the group’s views on the alternative asset market. Blackstone’s results, released this morning, are expected to be supported by its credit and private equity divisions, but real estate is likely to remain a weak spot.
Finance: Strong results from larger banks lifted shares of smaller lenders, pushing the KBW regional bank index to highs seen before the regional banking crisis at the start of the year 2023. Truist Financial, KeyCorp, Western Alliance and M&T Bank will all report third-quarter results today.
Netflix: The streaming platform is forecast to report a 14% year-over-year revenue increase in the third quarter to $9.8 billion.
Campaign roadmap: Donald Trump will attend the Alfred E Smith Memorial Fund Dinner in New York, which raises money for Catholic Charities. Traditionally, both presidential candidates attend the event, but Democratic presidential candidate and vice president Kamala Harris chose to skip the event. She will campaign in the battleground state of Wisconsin today.
