Highlights
Stocks and other risk assets under pressure globally Thursday led by a selloff in the AI trade, which has spurred a flight to quality into US Treasuries. Other worries include the meltdown in French sovereign debt and headlines pointing to a resumption in US and Israeli strikes on Iran after the midterm election. Oil prices up in response. Not a good mix for markets.
A light day for scheduled US macroeconomic news events. Coming up at 8:30 am ET, weekly jobless claims, which are expected at 200K in the latest week versus 199K last week. Claims have been remarkably low and stable at this level, suggesting the job market is holding up nicely.
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