Today we look at a rocky session for equities as geopolitical headlines spooked the market, which is trying to figure out whether the latest US threats are just chest thumping ahead of the key talks between the US and China kicking off tomorrow or a sign that trade tensions will escalate further. Also, plenty of single company news on earnings from Tesla, IBM and others, more fun and games for quantum computing stocks, key incoming data from Japan and the US that could spike FX volatility and more. Today's pod hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (within one to three hours from the time of the podcast release).

Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here.

Please reach out to us at marketcall@saxobank.com for feedback and questions.

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Intro and outro music by AShamaluevMusic

Today, we look at a market that remains hopeful the US and China are maneuvering towards a comprehensive deal, which could clear the decks of significant geopolitical uncertainty for quite some time if Xi and Trump are headed toward a friendly meeting in person next week after trade talks through Monday. With Saxo Investment Strategist Ruben Dalfovo, we also run through the key earnings reports this week and what we're looking for in next week's mother lode of reports. Macro, FX, geopolitics, must reads and more also on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (within one to three hours from the time of the podcast release).

Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here.

Please reach out to us at marketcall@saxobank.com for feedback and questions.

Click here to open an account with Saxo.

Intro and outro music by AShamaluevMusic

Yesterday saw a low-energy session in US equity markets, though as ever with considerable turbulence and divergence beneath the surface. We also underline that in this key US-China relationship that is the focus ahead of the November 1 deadline for a new deal to emerge, China is as important as the US if it simply decides that it wants to use its leverage now and not make any concessions. The market is pricing zero risk of bad outcomes, which looks complacent, even if we have no idea what the probability distribution should be. Plenty more on on macro, FX and much more also on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (within one to three hours from the time of the podcast release).

Read daily in-depth market updates from the Saxo Market Call and the Saxo Strategy Team here.

Please reach out to us at marketcall@saxobank.com for feedback and questions.

Click here to open an account with Saxo.

Intro and outro music by AShamaluevMusic