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New Zealand Business NZ PMI remains unchanged at 49.9 in September

New York Times report

The US Bureau of Labor Statistics plans to publish the September Consumer Price Index report even amid the ongoing government shutdown, though the release date will likely shift from the original October 15 schedule.

Info comes via a NYT reporter, Ben Casselman. He adds:

• The decision reflects the importance of September inflation data in determining the annual Social Security cost-of-living adjustment (COLA), which is calculated using third-quarter CPI figures. A prolonged delay would risk postponing the COLA announcement that affects millions of retirees.

This article was written by Eamonn Sheridan at investinglive.com.

South Korea FX Reserves climbed from previous 416.29B to 422.02B in September

New York Attorney General Letitia James previously sued President Trump in a civil case that led to him and his company being held liable for business fraud.

Japan’s Takaichi sparks concern over BOJ autonomy with reflation talk

Japan’s incoming leader Sanae Takaichi has pledged swift economic stimulus and a gasoline-tax cut to ease living costs, but her comments on monetary policy have revived concerns about the Bank of Japan’s independence.

Takaichi said she will order a stimulus package “immediately” on taking office and warned that a weak yen, while helping exports, is hurting households through costlier imports. She stressed Japan’s bond market is stable thanks to domestic ownership but added that fiscal and monetary policy must align — a stance reminiscent of Shinzo Abe’s early Abenomics era.

Analysts say her approach could pressure BOJ Governor Kazuo Ueda to keep rates low, but political and economic realities — stubborn inflation, public anger over prices, and a fragile coalition — may temper any direct interference. Former officials warned that a deeper yen slide could force Takaichi herself to accept rate hikes to avoid worsening consumer pain.

The yen has already slipped to an eight-month low as markets assess whether Japan’s “new era” under Takaichi will mean more political influence over central-bank policy, or a pragmatic balance shaped by inflation and public sentiment.

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Sanae Takaichi, the newly elected leader of Japan’s ruling party, the Liberal Democratic Party (LDP) spoke overnight, check out those links above for more.

Takaichi’s tone suggests fiscal expansion and slower tightening, a mix that may keep upward pressure on Japanese yields limited but risk further yen weakness if investors fear renewed political sway over BOJ policy.

This article was written by Eamonn Sheridan at investinglive.com.

Levi Strauss is raising prices across its assortment but said consumer demand is so far holding steady.

Trump administration proposes to bar Chinese airlines from overflying Russia on all U.S. flights according to a flash on the news wires.

This article was written by Eamonn Sheridan at investinglive.com.

The major stock indice are closing lower with the small cap Russell 2000 and the Dow 30, fairing the worst.

The final numbers are showing:

• Dow industrial average fell modestly and 43.36 points or -0.52% the 46358.42
• S&P index fell -18.61 points or -0.28% at 6735.11
• NASDAQ index fell -18.75 points or -0.08% the 23024.63
• Russell 2000 fell 15.14 points or -0.61% 2468.84

Looking at the Dow 30, Boeing tumble -4.14%, and Travelers, Honeywell and 3M all fell over 2% on the day

• Boeing (BA): -9.32 (-4.14%)

• Travelers (TRV): -8.35 (-2.95%)

• Honeywell (HON): -5.62 (-2.68%)

• 3M (MMM): -3.16 (-2.03%)

• Apple (AAPL): -4.02 (-1.56%)

• Home Depot (HD): -5.99 (-1.56%)

• Nike (NKE): -1.03 (-1.49%)

• Chevron (CVX): -2.10 (-1.37%)

• Sherwin-Williams (SHW): -4.35 (-1.29%)

• Visa (V): -4.34 (-1.24%)

• Verizon (VZ): -0.48 (-1.15%)

• Walmart (WMT): -1.15 (-1.11%)

Some other 2% decliners today outside of the Dow include:

• Dell Tech (DELL): -8.58 (-5.21%)

• Boeing (BA): -9.32 (-4.14%)

• Alibaba ADR (BABA): -7.44 (-4.11%)

• Rtx Corp (RTX): -6.39 (-3.79%)

• Whirlpool (WHR): -2.68 (-3.47%)

• Uber Tech (UBER): -3.27 (-3.29%)

• Strategy (MSTR): -10.61 (-3.21%)

• Paramount Skydance (PSKY): -0.53 (-2.86%)

• Tapestry (TPR): -3.33 (-2.85%)

• Schlumberger (SLB): -0.84 (-2.47%)

• Southwest Airlines (LUV): -0.75 (-2.31%)

• Micron (MU): -4.21 (-2.14%)

• Stellantis NV (STLA): -0.23 (-2.13%)

• Papa John’s (PZZA): -0.90 (-2.08%)

• Mastercard (MA): -11.89 (-2.06%)

• Ford Motor (F): -0.24 (-2.04%)

• DoorDash (DASH): -5.61 (-2.00%)

Finally, some 2% gainers today, included

• Nebius NV (NBIS): +10.64 (+8.72%)

• Delta Air Lines (DAL): +2.45 (+4.29%)

• Zoom Video (ZM): +2.87 (+3.59%)

• United Airlines (UAL): +3.28 (+3.34%)

• Costco (COST): +28.08 (+3.07%)

• Oracle (ORCL): +8.33 (+2.89%)

• Arm (ARM): +3.88 (+2.33%)

• Chewy (CHWY): +0.87 (+2.27%)

• Meta Platforms (META): +15.67 (+2.18%)

• Celsius (CELH): +1.35 (+2.15%)

• Salesforce (CRM): +4.90 (+2.04%)

This article was written by Greg Michalowski at investinglive.com.

Analysts said Ferrari’s 2030 financial targets, which were announced as part of the firm’s Capital Markets Day event, fell short of expectations.

• Japan’s Takaichi: We don’t want to trigger an excessive yen decline
• Hamas chief says they declare an end to the war today and permanent ceasefire
• Fed’s Barr: Not seeing a generalized spillover of tariffs into services inflation
• Fed’s Barr:Uncertainty about both inflation/jobs warrants cautious approach to further cut
• US Senate rejects Democratic government funding bill.
• Make Argentina Great Again: The US buys pesos directly
• U.S. Treasury auctions of $22 billion of the 30 year bonds at a high yield of 4.734%
• Consumers are flush: Airline stocks rise as Delta sees strong demand

Markets:

• Gold down $63 to $3974
• US 10-year yields up 1.1 bps to 4.14%
• WTI crude oil down $1.09 to $61.46
• USD leads, GBP lags
• S&P 500 down 0.3%

The yen continues to slump as Takaichi highlighted her plans to unveil a new round of stimulus and cut the gasoline tax. She tempered the decline by saying that she doesn’t want ‘excessive’ yen weakness. EUR/JPY hit a record low yesterday but USD/JPY is in the middle of its 2025 range on account of USD weakness this year. I’d imagine she’s thinking +165 before it gets excessive and that’s why the small dip on her comment was quickly faded.

The other mover today was the US dollar as it made a solid move to the upside. There wasn’t a particular catalyst as the comments from Barr weren’t much to mull and — if anything — were dovish. The one headline that really got my attention was from Delta Airlines, who highlighted that consumers began to spend again in July after a pause from early April and Liberation Day. The CEO talked about a continued acceleration as well, and that resonates with what we’re seeing in the market and raises the possibility of fresh inflation and the Fed disappointing on the 103 bps in rate cuts that’s priced in through next October.

Adding to the dollar momentum were some technical breaks of recent levels, including USD/CAD rising to the highest since May, NZD/USD down to the lowest since April (50 bps cut earlier) and cable falling to the lowest since early August.

Gold was caught in the round of profit taking and quickly fell as low as $3945 from a high of $4057. Selling accelerated on the break of $4000 but there have been some late bids creeping in and it’s back to $3977.

In equities, the heatmap of equities is telling as it shows about a dozen names carrying an otherwise-dismal day for the market. Nvidia hit fresh record highs as everyone piles into the AI trade.

This article was written by Adam Button at investinglive.com.