• FX:The safe haven yen was the strongest major currency, despite a midday turnaround in risk appetite. The kiwi was the weakest major currency after the RBNZ’s surprise 50bps interest rate cut.
  • Commodities: Oil tumbled about 2.5% more on the day, while gold gained nearly 2% to rally through the psychologically-significant $1500 level.

  • US indices fought back from steep early losses to finish near unchanged on the day. Bond yields also reversed back to the topside after a poor 10-year bond auction midway through US trade.
  • Consumer staples (XLP) were the strongest sector on the day. Financials (XLF) were the weakest sector.
  • Stocks on the Move:
  • Walt Disney (DIS) shed nearly -5% after a rare miss in earnings as the company’s Star Wars theme park attractions drew fewer attendees than anticipated. The company launches its highly-anticipated streaming service in November.
  • CVS Health (CVS) tacked on more than 7% after reporting strong earnings.
  • Flooring company Lumber Liquidators (LL) dumped almost 10% after reducing its same-store outlook to “approximately flat.”
  • Uber (UBER, +1%) is set to report earnings after the bell.

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