United States Baker Hughes US Oil Rig Count came in at 420, above forecasts (416)

TradingKey - U.S. stocks rebounded on Monday, October 19, following a sharp sell-off in AI infrastructure stocks last week, lifting the Nasdaq Composite and S&P 500.

TradingKey - On October 20, Japanese and South Korean stock markets both opened lower in morning trading, with South Korean stocks extending their decline. The South Korea Composite Stock Price Index (KOSPI) opened 0.60% lower at 5,733.57 points, later widening its drop to 2.20% at 5,641.21 points; Japan's Nikkei 225 Index (N225) opened 0.25% lower at 64,755.49 points, subsequently falling 0.77% to 64,415.21 points.

On October 19 ET, following last week's sell-off in AI infrastructure stocks, tech shares rebounded on Monday, driving the Nasdaq and the S&P 500 higher. Memory stocks led the gains, while chipmakers such as Intel and AMD also recovered. At the close, the Dow Jones Industrial Average fell 0.07% to 51,966.03; the Nasdaq Composite Index gained 1.11% to 26,430.89; and the S&P 500 Index rose 0.41% to 7,690.73.

On October 19, Eastern Time, shares of CoreWeave (CRWV) rebounded nearly 3% after Goldman Sachs upgraded its rating from "Neutral" to "Buy." However, at the same time, the firm lowered its price target from $139 to $106. Its core thesis is that the market may have overestimated financing pressures while underestimating the potential for improvement in returns on computing power investments.

TradingKey - In the coming week (October 19 to October 23), the US market will shift its focus from this week's inflation data to the third-quarter earnings season and economic growth data. US September CPI released this week rose 3.7% year-on-year, while PPI climbed 1.3% month-on-month, marking the largest single-month increase since March 2022. Meanwhile, September retail sales grew 0.8% month-on-month and 6.3% year-on-year, indicating that while inflationary pressures remain elevated, US consumer spending continues to demonstrate resilience.