triple witching options

MPC Morning Call

Triple-Witching Leaves Wall Street Mixed as 10-Year Returns to 5%

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Semiconductors carried the S&P 500 and Nasdaq higher on triple-witching Friday as ~$7 trillion in options expired, but the Dow slipped and the 10-year yield climbed back to 5.00%. Weekend Houthi strikes on Riyadh and Iran’s declaration that Hormuz stays closed re-escalated the oil risk into Monday’s Asia open. SPI futures point to a 57-point drop for the ASX.

MPC Morning Call

Tech-Powered Rally as Chips Hit Record, SpaceX Fizzles

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Wall Street rallied as the US and Iran signed a peace deal at Versailles, reopening the Strait of Hormuz and sending crude prices crashing toward pre-war levels. The S&P 500 gained 1.1% and the Nasdaq surged 1.9% on a record semiconductor rally, while new Fed Chairman Warsh’s hawkish debut projected rate hikes ahead. ASX futures point 0.6% lower as BHP faces a $3.3 billion potash impairment.

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