Samuel and Co Trading

20/10/2026

US Open Market Brief, Tuesday 20 October.

General Motors reported better results than expected this morning, but its shares are falling before the US market opens. The company is not raising its profit forecast because its costs are rising, including the memory chips that go into modern cars.

Those same memory chips are in huge demand from AI data centres, which is pushing their price up for everyone else.

3M, which sells parts to data centres, is rising after a good quarter and a bigger deal with Amazon. Oil prices are higher after more attack claims in the Gulf.

The US stock market opens at 14:30 UK time.

Full brief:

GM beat forecasts but fell before the open as memory chip costs hit its outlook, while 3M rose on an Amazon data centre deal and Brent hit a five-month high.

20/10/2026

American tech shares had a good day on Monday, but Asia didn't join in. South Korea's main stock market fell about 3.5 per cent this morning, led by the big memory chip makers.

The reason is worth understanding. Reports say large US companies such as Apple and Tesla are pushing for cheaper memory chips and pointing to Chinese suppliers as an alternative. That raises a simple question for investors: when everyone is spending on AI, who actually keeps the profit?

Oil is also back near five-month highs, Europe looks set for a weaker start after riots in France, and UK jobs figures are out at 7am.

Our Morning Market Brief explains what happened overnight and what to watch, in plain English:

US chip stocks bounced, but Seoul sold its memory makers as big buyers push for lower prices. Oil near $110, UK jobs at 07:00, Netflix tonight. What to watch.

19/10/2026

US Open Market Brief, Monday 19 October.

After a tough week for technology shares, chipmakers such as Nvidia, AMD and Micron are rising before the US stock market opens.

The big companies that buy those chips, such as Meta, are not rising with them. Their results later this week will show whether they plan to keep spending heavily on AI.

US share futures are higher, European shares are lower and oil prices have slipped.

The US stock market opens at 14:30 UK time.

Full brief:

Chip stocks lead a rebound in US futures after last week's AI selloff, but Meta, Tesla and Netflix lag before results that will test AI spending plans.

19/10/2026

Last week was rough for technology shares, the worst in about a year and a half, as investors worried about how the big AI buildout gets funded. This morning looks a little calmer.

Oil has slipped after the US signalled it may pause tough new energy sanctions on Russia, and US stock futures have bounced. Asian markets opened weakly then recovered most of the damage. Hong Kong is closed for a holiday today.

The real test comes later this week, when Tesla, Meta, Netflix and SpaceX report results. That will show whether Friday's scare was a passing wobble or something more lasting.

Our Morning Market Brief explains what happened overnight and what to watch, without the jargon:

After tech's worst week in months, softer oil on a Russia sanctions waiver lifts US futures. Asia chips pare a weak open into a mega earnings week. What to watch.

16/10/2026

US Open Market Brief, Friday 16 October.

This week, investors worried that money troubles at some AI companies could spread to the wider economy. Today, some of America's big regional banks reported their results, and the news on bad loans was good. Fewer loans are going wrong.

The shares are a little lower anyway, because the banks' income was slightly below what investors hoped for.

Elsewhere it is a calm Friday. US share futures are steady, the dollar is weaker and gold is close to $4,200 an ounce.

The US stock market opens at 14:30 UK time.

Full brief:

16/10/2026

Markets were nervous about what the head of the US Federal Reserve would say overnight after some hot inflation figures this week. In the end, Kevin Warsh gave very little away, and investors breathed a sigh of relief.

The dollar slipped, and Asian technology shares recovered some of Thursday's heavy losses. One big exception was Indonesia, where the stock market fell around 11% after a major index provider warned it could downgrade the country.

The Fed's next decision is at the end of October, and it will now depend on the economic data that comes out before then.

Our Morning Market Brief explains what happened overnight, why it matters and what to watch today, without the jargon:

Warsh refused to pre-judge October after a hot PPI, the dollar slipped and Asia's chip shares bounced. Jakarta crashed on an MSCI warning. What to watch.

15/10/2026

US Open Market Brief, Thursday 15 October.

Shares in AI and chip companies are falling again today. Investors are worried about how much these companies have borrowed to build data centres, now that interest rates are so high. CoreWeave, one of the most heavily borrowed, has fallen sharply for a second day.

Even TSMC, the world's biggest chipmaker, could not turn the mood around with record profits this morning.

The rest of the market is calmer. US government bond yields have come down, gold is higher, and the Dow is holding steady.

At 13:30 UK time, the latest US figures on producer prices and shop sales come out. After yesterday's hotter than expected inflation numbers, they could set the tone for the rest of the day.

Full brief:

15/10/2026

US inflation came in hotter than hoped yesterday, and that has put another interest-rate rise this month back on the cards.

This morning Asia is feeling it first. Chip and technology shares in South Korea and Japan have fallen sharply, and US stock futures are still under pressure into London.

Some better news at home: Britain's economy grew in August when most people expected it to shrink. Later we get more US data that will help decide whether the Federal Reserve moves at the end of October.

Our Morning Market Brief explains what happened overnight, why it matters and what to watch today, without the jargon:

Hotter US core inflation put an October Fed rate rise back on the table, Asia's chip shares took the hit first, and the UK economy beat forecasts in August.

14/10/2026

US Open Market Brief, Wednesday 14 October.

Bank of America, the second-biggest bank in the US, has reported profits below what analysts expected, a day after it was fined $1.2 billion by the US Treasury. Its revenue also came in short, and the shares are lower before the US market opens.

ASML, the company that makes the machines used to produce the most advanced chips, says demand is so strong it cannot keep up until 2028. Even so, chip shares are still struggling to rally.

This afternoon brings the latest US inflation figures at 13:30 UK time. They could decide whether the US Federal Reserve raises interest rates again this month.

Full brief:

Bank of America misses on profit and revenue, chip stocks fail to rally on ASML's upgrade and Wall Street waits for September CPI at 13:30 UK time.

14/10/2026

America publishes its latest inflation figures at 1.30pm UK time today, and everyone expects the headline to jump because petrol has become so expensive.

The part that really matters is "core" inflation, which leaves out fuel and food. If that stays calm, the US central bank can probably wait before raising interest rates again. If it comes in hot, a rise at the end of this month is back on the cards.

Oil is still firm, with more attacks on ships near the Gulf, and China's factory costs have just risen at their fastest pace in four years.

Our Morning Market Brief explains what happened overnight, why it matters and what to watch today, without the jargon:

Oil has already written today's hot US inflation headline, so core CPI decides the Fed's October call. Gulf tensions keep Brent firm as Asia's chip stocks bounce.