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Day Of Strikes Sees Iranian Missiles Hit Israel, Labor Hit Ports | Wall Street Today

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Kevin Travers wrote a column · Oct 1 15:20
Day Of Strikes Sees Iranian Missiles Hit Israel, Labor Hit Ports | Wall Street Today
The first day of the fourth quarter started with a bang. Iran launched nearly 200 missiles into Israel around noon ET in retribution for ongoing attacks on extremists in Beruit and Lebanon. The U.S. and its allies said they were able to shoot down many, but the fresh violence plunged the market into the red, while the defense, oil, gold and silver climbed.
In other news, the Longshormen's Union went on strike Monday night for wage increases, shutting down massive ports across the East Coast and Gulf of Mexico, a move that will likely hurt shipping and trade stocks.
Just past 4 pm ET the market was falling while the VIX volatility index jumped 20% at one point. The     $S&P 500 Index (.SPX.US)$ fell  93 basis points, the         $Dow Jones Industrial Average (.DJI.US)$ fell 0.41%, and the     $Nasdaq Composite Index (.IXIC.US)$ fell 1.53%.
MACRO
In macro, US JOLTs Job Openings came in at 8M for August, compared to estimates of 7.6M.
ISM PMI for September came in lower than forecast, at the same level of last month. With a number below 50, it shows manufacturers spent less than previously on input costs, which can be bad for growth but good for a decrease in inflation.
SECTORS
Within industries tracked by moomoo, energy stocks and defense were leading while Semiconductors and tech fell.   $NVIDIA (NVDA.US)$ fell 3%,   $Tesla (TSLA.US)$ fell 4.7 at one point just one day before its delivaries release.
Gold gained ground and Oil rose some 5% Tuesday after Iran's missiles struck Israel. $Crude Oil Futures(JAN5) (CLmain.US)$ for November delivery shot up 5% to $71.59 shortly after 1 p.m. ET after the Israeli military sounded alarm warnings for civilians to get to bomb shelters amid word that Iran had launched missiles against the Jewish state.
Day Of Strikes Sees Iranian Missiles Hit Israel, Labor Hit Ports | Wall Street Today
Media reports indicated that explosions were heard in Israel’s major city of Tel Aviv. $U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ and the       $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ fell. $Northrop Grumman (NOC.US)$,   $Lockheed Martin (LMT.US)$, and   $RTX Corp (RTX.US)$ climbed alongside other defense stocks on the news of the attack.
MOOVERS
Speaking of strikes,   $Boeing (BA.US)$ fell 1.46% early Tuesday, after a Bloomberg report that the aerospace giant is considering raising at least  $10 billion by issuing new shares, as it works to bolster cash reserves that have been depleted by a strike.
$Nike (NKE.US)$ reported adjusted earnings of $0.70/share vs estimates of $0.523 on revenue of $11.58B vs estimates of $11.65B according to Bloomberg Analyst estimates  in the first quarter of the firm's fiscal year 2025.
$ZIM Integrated Shipping (ZIM.US)$ and other shipping stocks fell after the Longshoremen union declared a strike Monday night. They want a 60-70% increase in wages. "This is going down in history what we're doing here," Harold Daggett, head of the union told reporters Monday night.
Shares of   $United Natural Foods (UNFI.US)$ jumped 30% after the company unexpectedly turned a small adjusted quarterly profit as volume trends improved. The grocery wholesaler said before the bell that sales were up 10% at $8.16 billion in the quarter ended Aug. 3, topping analyst projections for $7.94 billion.
$Charles Schwab (SCHW.US)$ fell after the firm said Tuesday that Chief Executive Walt Bettinger made the decision to retire, effective Dec. 31. The company has named President Rick Wurster as Bettinger's successor in the CEO role, effective Jan. 1.
$Humana (HUM.US)$ fell 8% Tuesday after announcing its 2025 Medicare Advantage offerings.
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office. Fmr CNBC contributor, reporter/investor/trader Posts do not represent mm
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