Morning Preview: October 02, 2026

Early Look

Friday, October 2, 2026

U.S. futures are looking higher as oil prices drop, and markets await the monthly jobs data at 8:30 am. The Sept Nonfarm Payrolls report will be out in less than 2 hours with estimates for +90K added jobs (prior +162K) and Private Payrolls est. +85K (prior +127K) while the Unemployment Rate for September expected to hold at 4.1%. Meanwhile, oil prices extend losses, with front-month Brent crude futures falling back below $100 a barrel after media reports of talks on potential diesel stock releases. Reuters reported that European Union member States were discussing a French proposal to release additional diesel reserves following pressure from the Trump administration. The report said France had proposed that EU nations release 50M barrels of diesel and International Energy Agency members release 50M barrels of crude oil. In Asian markets, The Nikkei Index fell -647 points to 68,309, the Shanghai Index will remain closed until mid-next week for its Golden Week holiday, and the Hang Seng Index dropped -640 points to 23,972. In Europe, the German DAX is up 161 points to 25,100, while the FTSE 100 slips a few points to 10,423. Bitcoin prices are jumping with US futures, up 2% to $86,350 and Ethereum rises 1.8% to $2,750. In stock news, Nike (NKE) shares slide over -10% after earnings and guidance disappoint; SYNA shares jump after amended M&A news with ON, credit bureaus EFX, TRU, FICO fall on news FHFA credit easing mortgage credit-data requirements for Fannie and Freddie.

• The Dow Jones Industrial Average rose 20.51 points, or 0.04%, to 50,926.56
• The Nasdaq Composite gained 10.53 points, or 0.04%, to 26,871.60
• The Russell 2000 Index advanced 9.76 points, or 0.35% to 2,806.63

• 8:30 AM ET                  Private Payrolls for September…est. +85K (prior +127K)
• 8:30 AM ET                  Manufacturing Payrolls for September…est. 10K (prior +16K)
• 8:30 AM ET                  Unemployment Rate for September…est. 4.1%
• 8:30 AM ET                  Average Hourly Earnings for September M/M…est. +0.3%
• 10:00 AM ET                Factory Orders M/M for August
• 1:00 PM ET                   Baker Hughes Weekly rig count data

• Eurozone annual inflation accelerated to 3.8% in September, up from 3.2% in August and above market expectations of 3.6%, according to preliminary estimates. Core inflation, which excludes energy and food, rose to 2.5% from 2.4%, in line with expectations.
• Tokyo core inflation rate jumps in September, bolsters case for more BOJ hikes; Tokyo core CPI rises 2.7% on year in September vs 2.4% forecast; Index excluding fresh food, fuel rises 3.0%.
• Reuters reported that European Union member States were discussing a French proposal to release additional diesel reserves following pressure from the Trump administration. The report said France had proposed that EU nations release 50M barrels of diesel and International Energy Agency members release 50M barrels of crude oil.
• Dallas Fed President Lorie Logan says the Fed likely will need to raise rates by at least another 50 bps to ensure inflation doesn’t settle above the central bank’s 2% goal. Logan said those additional increases, together with September’s, would merely reverse the three cuts the Fed made last year. She said the Fed needs to set interest rates at a modestly restrictive level, a threshold that remains uncertain and could require even more increases.

• AirBnB (ABNB) upgraded to Overweight from Sector Weight at Keybanc with a $191 price target saying the company’s core growth appears to be increasingly durable and product-led while its hotels bookings are emerging as its credible second growth engine.
• Chinese robotaxi operators Pony AI and WeRide face sustained operating losses through 2028 as domestic fleet utilization lags Waymo’s rate of more than 58%, Bloomberg Intelligence said.
• Tesla (TSLA) monthly EV registration and production numbers are expected this morning.

• RTX Corp. (RTX) said Raytheon, an RTX business, has secured a five-year contract, with two additional option years, valued up to $24.4B for Standard Missile-6 interceptors.
• Venture Global (VG) and ConocoPhillips (COP) announce 20-year LNG sales & purchase agreement where ConocoPhillips will buy 1.0M tonnes per annum of LNG from Co for 20 years, starting 2030.
• Vylor Inc. (VYLR) was added to the S&P 500 on October 1 when S&P 500 constituent Corteva Inc (CTVA) spun off Vylor in a transaction completed on that date. Vylor replaces Corteva in the S&P 500. Corteva will replace Olin Corp (OLN) in the S&P MidCap 400, and Olin will replace Qorvo, Inc (QRVO) in the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, October 6.

• Better Home (BETR) was upgraded to Overweight from Neutral at Cantor as the Garg Group announced that it had secured written consents representing over 51% of Better’s voting shares, positioning former CEO Vishal Garg to return to an operating role.
• Fannie Mae (FNMA) and Freddie Mac (FMCC) to cut credit bureau requirement (EFX, FICO, TRU). The Federal Housing Finance Agency plans to instruct Fannie Mae and Freddie Mac to require lenders to obtain credit data from two major credit reporting bureaus rather than three, according to a person familiar with the matter, Reuters reported.

• Inspire Medical systems, Inc. (INSP) announces approval of new hypoglossal nerve stimulation CPT® codes by the ama editorial panel; new category I CPT codes to take effect January 1, 2028.
• Summit Therapeutics (SMMT) announced a clinical trial collaboration agreement with Daiichi Sankyo and AstraZeneca (AZN) to evaluate ivonescimab, a novel, potential first-in-class investigational PD-1/VEGF bispecific antibody, in combination with Datroway, a TROP2-directed antibody drug conjugate, across multiple solid tumor settings, intending to include breast and lung cancer

• Broadcom (AVGO) is assembling roughly $60B of financing to help Anthropic and other AI customers fund chip & infrastructure purchases. The package includes: $42B senior-secured debt, $18B junior debt led by Blackstone (BX) – Bloomberg.
• Google (GOOGL) has partnered with Planet Labs (PL) to successfully launch its Project Suncatcher prototype satellite into orbit aboard a SpaceX (SPCX) rocket. The moonshot initiative will test how well Google’s Tensor Processing Units, or TPUs, handle the extreme radiation and thermal conditions of space.
• Hyperscale Data (GPUS) exploring strategic alternatives for its Askroi subsidiary; potential transactions include sale, strategic partnership or divestiture for Askroi; strategic opportunities involve synergies with Ai, Blockchain, software Partners.
• ON Semiconductor (ON) will acquire Synaptics (SYNA) for cash rather than stock in a downsized deal, according to an amended agreement between the two companies. ON said it will pay $123 a share for Synaptics, giving the deal a value of around $5.7 billion. The company previously agreed in June to issue 1.35 shares for each share of Synaptics, in a deal then valued at about $7 billion.