Good morning and welcome to October. It’s the eighth best month of the year on average for the stock market, according to Dow Jones Market Data, or the fifth worst, if you are more of a glass-half-empty type of investor.

And we are off to an upbeat start at least in terms of Nasdaq 100 futures, which are in the green as tech stocks gamble on the Fed holding rates steady after yesterday’s cooler-than-expected inflation data for August.

Strong earnings from memory chip maker Micron are also helping sentiment—the stand out figure for me is its gross margin of 87%—compare that with the likes of old school manufacturers like Ford which hovers around 8%.

For those hooked on a little bit of gloom to kick off the morning, the 10-year Treasury yield reached its highest level since 2002 on a cocktail of macro concerns. It’s enough to give anyone a fright.

Have a great day.

P.S. Feel free to get in touch with any thoughts and comments.

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