US CREDIT HEADLINE: Nissan revises Q2, first half and full year FY2025 outlook
Oct-30 11:07
Nissan Motor Co: Nissan revises second quarter and first half FY2025 outlook and full-year guidance --BBG
(NSANY; Ba2neg/BBneg/BBneg)
*NISSAN SEES 1H 2025 NET INCOME PER SHARE -65.86 YEN
*NISSAN SEES 1H OPERATING LOSS TO BE 30B YEN VS 180B YEN EARLIER
*NISSAN FORECASTS 1H OPER. LOSS OF 30B YEN
*NISSAN: FY OPER LOSS INCL. ESTIMATED TARIFF IMPACT OF 275B YEN
*NISSAN FORECASTS FY OPER. LOSS OF 275B YEN
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LOOK AHEAD: Tuesday Data Calendar:Fed Speak, PMI, JOLTS, Cons Conf, House Prices
Sep-30 11:04
- US Data/Speaker Calendar (prior, estimate)
- 09/30 0900 Boston Fed Collins Council on Foreign Relations
- 09/30 0900 FHFA House Price Index MoM (-0.2%, -0.2%)
- 09/30 0900 S&P Cotality CS 20-City MoM (-0.25%, -0.20%), YoY (2.14%, 1.55%)
- 09/30 0945 MNI Chicago PMI (41.5, 43.3)
- 09/30 1000 JOLTS Job Openings (7.181M, 7.200M), Rate (4.3%, 4.2%)
- 09/30 1000 JOLTS Quits Level (3.208M, 3.165M), Rate (2.0%, --)
- 09/30 1000 JOLTS Layoffs Level (1.808M, 1.827M), Rate (1.1%, --)
- 09/30 1000 Conf. Board Consumer Confidence (97.4, 96.0)
- 09/30 1030 Dallas Fed Services Activity (6.8, --)
- 09/30 1130 US Tsy $85B 6W & $50B 52W bill auctions
- 09/30 1330 Chicago Fed Goolsbee Participates in a Q&A at Midwest Agriculture Co
- 09/30 1530 Chicago Fed Goolsbee on Fox Business
- 09/30 1910 Dallas Fed Logan moderated discussion
- Source: Bloomberg Finance L.P. / MNI
OUTLOOK: Price Signal Summary - WTI Pulls Back from Its Recent Highs
Sep-30 10:53
- On the commodity front, the trend condition in Gold is unchanged and a bull cycle remains in play. The yellow metal has started the week on a bullish note, trading to a fresh cycle high. This confirms a resumption of the primary uptrend. Note that MA studies are in a bull-mode position, highlighting a dominant uptrend. Sights are on $3909.4, a 2.00 projection of the May 15 - Jun 16 - 30 price swing. On the downside, support to watch lies at $3646.3, the 20-day EMA. A pullback would be considered corrective.
- In the oil space, WTI futures have pulled back from their latest gains. The contract has recently breached $65.43, the Sep 2 high and this has potentially improved the S/T condition for bulls. However, the next key resistance is at $68.43, the Jul 30 high, where a break is required to signal scope for a stronger recovery. For bears, a clear reversal lower would refocus attention on key support at $60.85, the Aug 13 low. A break of this level would reinstate the downtrend.
US TSYS: Month End, Military Heads to Quantico, Data, US Govt Shutdown Looming
Sep-30 10:51
- A lot happening heading into month end in addition to looming US govt shutdown at midnight (barring last minute resolution), Pres Trump and Sec of War Hegseth to address senior military leaders at Quantico while data picks up with housing prices, Consumer Confidence, MNI Chicago PMI, JOLTS.
- The BLS plans to postpone key economic releases in the event of a shutdown: "BLS will suspend all operations. Economic data that are scheduled to be released during the lapse will not be released. All active data collection activities for BLS surveys will cease. The BLS website will not be updated with new content or restored in the event of a technical failure during a lapse." LINK
- Treasuries are trading modestly mixed w/ Bonds lagging 2s-10s: Tsy Dec'25 10Y contract (TYZ5) currently trades at 112-19 (+2.5) on moderate cumulative volumes of 220k. 10Y yield at 4.1309% (-.0078). Curves twist steeper: 2s10s +.236 at 51.852, 5s30s +1.404 at 98.214.
- A short-term bear cycle in Treasury futures remains in play. Last Thursday’s sell-off resulted in a print below the 50-day EMA, currently at 112-10+. A clear break of this average would undermine a bull theme and signal scope for a deeper retracement. This would open 111-13+, the Aug 18 low and the next key support. On the upside, initial firm resistance to watch is 113-00, the Sep 24 high.
- Economic Data: FHFA & S&P Cotality House Price Indexes (0900ET), MNI Chicago PMI (0945ET), JOLTS Jobs data (1000ET), Consumer Confidence (1000ET) and Dallas Fed Services Activity (1030ET).
- Treasury Auctions: $85B 6W & $50B 52W bills at 1130ET.
- Fedspeak: Fed VC Jefferson keynote speech earlier at 0600ET, Boston Fed Collins Council on Foreign Relations (0900ET), Dallas Fed Logan wraps up with a moderated discussion later this evening (1910ET).
- Politics: President Trump delivers remarks to the Department of War, Quantico (0900ET), returns to White House to make announcements (1100ET), executive orders signing (1500ET).
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