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Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: low
| Market | Gold |
|---|---|
| Close on 10/13/2026 | 4,160.85 |
| Change that session | -0.26% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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The latest CPI report showed September inflation came in hotter than expected: headline CPI rose 3.7% year over year and 0.6% from August, while core CPI rose 2.6% year over year and 0.3% monthly. This suggests the Fed could hike for a second straight time at its Oct. 27-28 meeting. However, futures traders price an 85.1% chance the Fed holds its rate at 3.75% to 4% in October and a 74.1% chance it resumes hiking in early December. The two-year Treasury yield has eased to 4.73% from 4.93% in September, signaling lower expectations for hikes, though it remains above the current rate. The author notes that stocks tend to perform better when the Fed moves slowly, and sees new Fed Chair Kevin Warsh, in the role since May, as an incrementalist.
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Iran's Revolutionary Guards Navy said two oil tankers caught fire after hitting naval mines while crossing the Strait of Hormuz, according to IRNA, and state media said both carried about 2 million barrels of crude. There was no independent confirmation of these reports. IRNA said the vessels had switched off their positioning and radar systems, used an unauthorised route, and that one was left immobilised after striking a mine. The incidents come amid heightened tensions, with attacks around the waterway surging over the past two weeks as Iran responds to a US blockade of its ports and tougher sanctions, and a container ship and a dry bulk carrier sank after being hit by projectiles earlier.
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- Indian Bond Yield Falls as U . S . Treasury Rates Ease After Nine - Week Climb
India's benchmark bond yield fell Monday after nine weeks of gains, as lower U.S. Treasury yields prompted value buying; the 6.94% bond due 2036 stood at 7.3551%, versus 7.3789% at Friday's close. The benchmark yield had risen 62 basis points over the previous nine weeks, while faster domestic inflation complicated the outlook, with India's combined CPI up 5.54% year over year in September (provisional) after 4.83% in August. The RBI raised its repo rate by 25 basis points to 5.50% on Oct. 7 and ruled out a near-term cut, saying its next move could be a hike or a pause. Indian overnight index swap rates fell, with the one-year down 7 basis points to 6.48% and the two-year down 8 basis points to 6.54%, while Brent crude fell 2.08% to $107.57 a barrel. The RBI's policy minutes are due Oct. 21, October inflation data on Nov. 12, and the next policy meeting is set for Dec. 2–4.
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JPMorgan (JPM) upgraded Intel (INTC) to Neutral from Underweight. The note points to improving execution under CEO Lip-Bu Tan, potential foundry customers for next-generation manufacturing, and rising earnings estimates for 2027 and 2028.
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Chip stocks rebounded on Monday as investors bought the dip after last week's steep AI trade sell-off. The PHLX Semiconductor Index (^SOX) rose 2%, reversing a recent semiconductor rout. Intel (INTC) jumped 5% after JPMorgan upgraded the stock to Buy, citing "solid execution." Nvidia (NVDA) and AMD (AMD) also gained, while a Goldman Sachs upgrade of CoreWeave (CRWV) to Buy from Neutral helped lift AI sentiment. Arm Holdings (ARM), Micron Technology (MU) and SK Hynix (SKHY) also rebounded after sharp declines last week.
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Netflix (NFLX) reports third-quarter results after the bell on Tuesday, with the stock down more than 25% this year and closing Friday near $70, versus $93.76 at the end of 2025. Investors are worried about slowing viewership, competition from YouTube, and live sports moving to Amazon Prime Video and HBO Max. Last week Netflix cut about 6% of its workforce (roughly 1,000 employees) and named Peter Rice its new chief content officer, and five firms lowered price targets in October. Analysts expect EPS of $0.82 on revenue of $12.88 billion, up about 12% from a year earlier, in line with Netflix's own forecast. KeyBanc's Justin Patterson wants more content investment, product changes, expense cuts and a possible first-ever dividend.
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Cleveland-Cliffs (CLF) rose 10% to $13.29 after reporting third-quarter adjusted EBITDA of $612 million, beating its $575 million guidance and up sharply from $143 million a year earlier. Revenue of $5.61 billion missed the $5.72 billion expected, though sales rose 18.6% year over year on a higher average net selling price of $1,177 per ton and larger shipments. Management said imports remain well below historical levels, but it indefinitely idled the galvanizing lines at its Canadian unit Stelco due to oversupply. The company guided to about $715 million of adjusted EBITDA in Q4 and said 2027 adjusted EBITDA should exceed $4 billion based on current index price forecasts. Its target is to bring net debt to EBITDA below 2.5x by mid-2027.
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Stocks were mostly higher on Monday as investors turned their focus to earnings season, with semiconductor stocks rebounding after last week's sharp sell-off. The Tech sector (XLK) rose, led by Nvidia (NVDA), AMD (AMD), Micron (MU) and SK Hynix (SKHY). Intel (INTC) also jumped after JPMorgan analysts upgraded the stock, while CoreWeave (CRWV), hammered last week, rebounded on a Goldman Sachs upgrade. Investors are watching this week's reports from Netflix (NFLX), SpaceX (SPCX), Tesla (TSLA) and Meta (META). The 10-year Treasury (^TNX) yield hovered near 5.1%, while Brent crude (BZ=F) dropped to $108 per barrel and WTI (CL=F) hovered below $98.
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Meta Platforms (META) reports third-quarter earnings after the close on Wednesday, alongside a wave of Big Tech peers. The GAAP EPS estimate is $3.54, though that figure may be messy because a legal settlement will be included and analysts differ on how it will be accounted for. Options imply a 3.2% move in either direction, the smallest since the fourth-quarter report before last. Estimates for next year's capex vary widely: Wedbush near $250 billion, Evercore ISI $210 billion, Bank of America $205 billion and Dan Ives around $194 billion. Most analysts say that spending is acceptable if Meta provides a Muse roadmap and confidence it can monetize it, and the stock is up about seven and a half percent year to date.
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