SPY Upside levels of interest: 4380, 4400, 4425, 4450

Downside levels of interest: 4300, 4277, 4250, 4230

Market News to watch for-

• Early October seasonal low

• Interest rates

• Israel war

Economic Data this week-

• All week: Heavy fed-speak 

• Wednesday: PPI and FOMC minutes

• Thursday: CPI

Earnings this week-

• Friday: JPMorgan, Citi, Wells Fargo

Todays Upgrades

• Heineken (HEINY) upgraded by Kepler Cheuvreux from Hold to Buy
• Carlsberg (CABGY) upgraded by Kepler Cheuvreux from Reduce to Hold
• Pernod Ricard (PDRDF) upgraded by Kepler Cheuvreux from Reduce to Hold
• CenterPoint Energy (CNP) upgraded by KeyBanc from Sector Weight to Overweight
• CMS Energy (CMS) upgraded by KeyBanc from Sector Weight…

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Upgrades

• LyondellBasell (LYB) upgraded by Citi from Neutral to Buy
• Compass Group (CMPGY) upgraded by RBC Capital from Underperform to Sector Perform
• Schindler (SHLAF) upgraded by RBC Capital from Sector Perform to Outperform
• Orange (ORAN) upgraded by BofA from Underperform to Buy
• Salmar (SALRF) upgraded by Berenberg from Sell to Hold

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Fed’s Goolsbee cautioned not to put too much weight on past experience in comments at the Peterson Institute. Tying policy decisions too closely to the “traditionalist view” of the “inevitability of a large trade-off between inflation and unemployment” risks a policy error. There is the potential of overshooting on the restrictive side,… Read more