US Morning News Call | Gold Blasts Past $3,900 on Rate-Cut Bets and Shutdown Jitters

Moomoo Breakfast US joined discussion · Oct 6 20:15

Before the Bell

U.S. stock futures climbed Monday as investors looked past the government shutdown that delayed key data like the September jobs report. The S&P 500 and Nasdaq just logged their fourth gain in five weeks. Futures tied to the $E-mini S&P 500 Futures (DEC5) (ESmain.US)$ rose 0.38%. $E-mini NASDAQ 100 Futures (DEC5) (NQmain.US)$ went up by 0.62%, and $E-mini Dow Futures (DEC5) (YMmain.US)$ went up 83 points, or 0.18%.

Top News

Gold Blasts Past $3,900 on Rate-Cut Bets and Shutdown Jitters

Gold hit a record, with futures up 1.2% to $3,958 after touching $3,969, as markets price a 95.7% chance of an October Fed cut and 84.1% for December. The shutdown’s data blackout adds uncertainty, while gold’s 50% YTD surge reflects safe-haven flows, central-bank buying, and strong ETF inflows.

Nikkei Soars to Record as Takaichi’s LDP Win Lifts Markets, Weakens Yen

Japan’s Nikkei 225 jumped 4.75% to a record 47,944.76 after Sanae Takaichi won the LDP leadership, positioning her to be Japan’s first female PM. Real estate, tech, and consumer cyclicals led; Yaskawa +20%, Japan Steel Works +14%, Mitsubishi Heavy +13%, Kawasaki Heavy +12%. Markets expect continued BOJ accommodation, with a possible 25 bp hike by Jan 2026.

French Stocks Slide as New PM Resigns, CAC 40 Sinks 2%

Europe opened lower after France’s Prime Minister Sebastien Lecornu resigned weeks into the job, reviving political turmoil and the risk of snap elections. The Stoxx 600 fell 0.4% and the CAC 40 dropped 2%, following last week’s record-setting European rally.

Turkey Shifts Toward U.S. in Talks on Huge Rare-Earth Find

Ankara is exploring a partnership with Washington to develop rare-earth reserves near Beylikova after talks with China and Russia stalled over tech transfer and refining rights. A deal to jointly refine elements like cerium, praseodymium, and neodymium could supplant a provisional agreement with China.

Tesla Teases “10/7” Launch, Fueling Roadster or Mass-Market Buzz

A $Tesla (TSLA.US)$ teaser video ending with “10/7” ignited speculation about a long-awaited next-gen Roadster or a new mass-market model. The Roadster was first teased in 2017, with years of intermittent hints from Elon Musk.

Indonesia Restores TikTok License After Data Submission

Jakarta reinstated TikTok’s local operating license after the company provided required data, reversing a temporary suspension imposed for incomplete disclosures.

Crypto News

$Bitcoin (BTC.CC)$went up 0.72% to $124,126; $Ethereum (ETH.CC)$ went up 1.44% to $4,578.

Bitcoin Sets New High Above $125,000 on Safe-Haven Bid

Bitcoin briefly topped $125,264 before easing to ~$123,700, buoyed by shutdown-driven haven demand and $3.25 billion in weekly net inflows to U.S. spot ETFs. BTC is up over 30% YTD, with ETH +34%, XRP +41%, and SOL +18%.

JPMorgan, Citi See Q4 Bitcoin Strength; Targets Up to $200,000

Wall Street’s year-end BTC targets range from $133,000 to $200,000. Citi pegs ~$133,000 in 2025, while JPMorgan estimates ~$165,000 based on BTC’s volatility-adjusted valuation versus gold, noting the BTC-to-gold volatility ratio has dropped below 2.0.

Market Events

Key Economic Events

10:00 AM US CB Employment Trends Index

Key Earnings

After Market

$Constellation Brands (STZ.US)$ will report fiscal second-quarter earnings on Monday after the market close. For the three months ended in August, analysts polled by FactSet expect the company to report earnings of $3.38 per share, down 28% from a year ago. Sales are expected to decline 16% from the year-ago quarter to $2.46 billion. Shares of the company are down 36% this year.

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