Stocks Soar To Start October

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 3 October 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Dow Jones Industrial Average led the three major U.S. equity indexes higher on the first Monday of October, rising more than 700 points and 2.5% by midday. That’s despite the fact the Institute of Supply Management’s gauge of factory activity slipped to 50.9 in September, its lowest print since May 2020. The U.S. housing market is also slowing rapidly, with median home prices now falling as fast as they did in January 2009. Meanwhile, Credit Suisse is evoking Lehman Brothers, and U.K. Prime Minister Liz Truss has abandoned her new government’s tax-cut plan. Maggie Lake welcomes Darius Dale, the founder of 42 Macro, to talk about the significance of today’s price action, and Weston Nakamura joins the conversation to discuss the ongoing policy confusion among global fiscal and monetary authorities. We want to hear from you too – please share your questions in the comments! Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Are you ready for a Monzo Business Bank account? Mike from Bluewater Plumbing was.
0:05.0	I need to get paid quickly, especially when I have five or six plumbing jobs in a day.
0:08.0	When I first used the payment link feature in my Monzo Business account,
0:11.0	I was impressed to how quick and easy it was. At the end of each job,
0:14.0	I'll just create a payment link, send it to the customer, and get paid then and there.
0:17.0	I can also track all of my payments in my get paid tab.
0:20.0	If you're ready for a Monzo Business account, apply today.
0:23.0	Just search Monzo Business, season sees apply.
0:26.0	Only sole traders or limited company directors in the UK can apply.
0:29.0	Is this the start of a fourth quarter? Come back. Hi, everyone.
0:32.0	Welcome to the Real Vision Daily briefing. We've got a two for today.
0:35.0	Our global markets editor, Western Nakamura is with us.
0:38.0	And Darius Dale founder of 42 macro. Hi, fellas.
0:42.0	Hey, Maggie, what's up? How are you?
0:44.0	What's up? Morning. Hello. Hello.
0:46.0	Yeah, we have to remember. It's good morning. It's good morning for Western.
0:50.0	So here we are. We have our fourth quarter reference because it is the start of a new month.
0:53.0	It is also the start of the last quarter of 2022.
0:56.0	I think everyone's pretty happy to shut the book on September as volatile and awful as it was for almost every asset class, except the dollar.
1:07.0	But it was interesting. We saw pretty good looking rally today on U.S.
1:11.0	Equities 10 year treasury eased back a little bit.
1:14.0	So it was a bit of a reprieve.
	...

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