Daily Updates

The AI-driven sell-off continued on Friday night, capping the worst trading week for the tech-heavy Nasdaq since the US tariff turmoil in April 2025. Oil futures rose by around 4% on Friday, with Brent futures approaching US$110 a barrel for the first time since mid-May, before ebbing this morning.

US equities rose overnight, with the S&P 500 recording its first gain of the week despite further selling in semiconductor and technology hardware stocks. Sentiment towards chipmakers was weighed down by signs of credit stress at US data centre operator and cloud computing provider CoreWeave.

US equities spent another day in the red, with higher than expected inflation in September pushing the S&P 500 down 1%, its worst day since July.

US equities were mixed overnight, with the S&P 500 closing virtually unchanged for a second consecutive session. The market recovered most of its early losses after FOMC vice-chair John Williamson said another interest rate increase may be appropriate in 2026, but he does not necessarily expect hikes in 2027.

US equities were mostly higher overnight; however, weakness in semiconductor, Amazon and Tesla shares saw the S&P 500 close marginally lower. The Philadelphia Stock Exchange Semiconductor Index fell 2.7%, its fourth consecutive decline, as concerns persisted over elevated valuations, revenue prospects and competition from China. 

US equities ended last week on a positive note, with the S&P 500 rising for the first time in three days. Consumer discretionary, health care and information technology made the largest contributions to the gain.