Newscasts - US Morning Call: Wall Street wakes up to a jittery market

Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_0ig687cx&referenceId=1_0ig687cx&pageId=Newscasts Source: 'Reuters - Business videos' Description: U.S. Equities look set for a tepid start to the week, ahead of another busy week of Q3 earnings. But the commodity markets reveal that concern over the war in Gaza has deepened over the weekend, while confidence in a Trump victory at the upcoming election has grown. Short Link: https://refini.tv/4f6PQIt Video Transcript: Wall Street wakes up to a jittery market. Hello and welcome to your US Morning Call. I'm Thomas Warner. Stocks in Europe and Asia had a tepid start to the week on Monday, lacking direction ahead of another busy week of earnings. But there was a clear direction in the commodity markets. Renewed concern over the war in the Middle East sent gold and oil higher in early trading, with gold reaching another new record high. And growing confidence in a Trump victory has sent Bitcoin up to a three-month high this morning. Traders think that he'd take a softer line than Kamala Harris on cryptocurrency regulation. And the US Dollar Index also looked set for gains reaching a three-day high of around 103.68. Donald Trump's proposed tariff and tax policies are seen as likely to keep US interest rates high and undermine the currencies of trading partners. The S&P and the Dow both look set to open close to, or slightly below Friday's level, they're coming off the back of six straight weeks of gains. But the NASDAQ appeared to be more affected by what's set to be another blockbuster week of earnings. Among the many household names reporting this week is Boeing. Shares in the beleaguered planemaker jumped 4% pre-market on news that striking workers will vote this Wednesday on an improved pay offer. That's the same day that Q3 earnings are due. Reports emerged over the weekend that Boeing is exploring asset sales in a bid to boost its fragile finances. And elsewhere in the aviation sector, Spirit Airlines is one of the pre-market session’s biggest gainers, up 46% after reaching a deal with its credit card processor to extend a refinancing deadline. It gives the airline some breathing room as it works to refinance its $1.1 billion loyalty bonds that are due to mature next year. Spirit has failed to report a profit in the last five out of six quarters, and its stock is down at 91% so far this year. Later in the week, Tesla becomes the first of the Magnificent Seven to report on its third quarter. It's expected to report a fall in margins and its first ever drop in annual deliveries. Tesla's aging line up faces stiff competition from cheaper EVs in key market China. Fellow Mag Seven member Microsoft says that its customers will be able to build autonomous AI agents starting from next month. The company is positioning autonomous agents, or co-pilots as “apps for an AI driven world” that can handle client queries, identify sales leads, and even manage inventory. Returning to this week though and steel make Nucor is due to report after the bell on Monday. It's already guided a year-on-year fall in earnings on lower revenues, which it blames on a fall in steel prices. And Secretary of State Antony Blinken is heading to the Middle East on Monday. The Biden Administration is trying to kickstart ceasefire negotiations and end the war in Gaza, following the death of Hamas leader Yahya Sinwar. And that is your US Morning Call.