Daily Edition
Thursday Daily Edition — October 29, 2026
September EMS shipments fall 10.8% while orders surge; Fed holds 3.75%–4.00%, Canada hikes to 2.50%; independent 50/13/37 outlook, one point to Bear. Base 50%, Bull 13%, Bear 37%.
One point moves from Base to Bear on new September EMS delivery evidence: shipments fell 10.8% while orders surged, joining the PCB delivery gap. The Fed held 3.75%–4.00% with two hike dissents and Canada raised to 2.50%, while cloud and memory strength support funding capacity. The decisive test is conversion of orders into delivered output and cash. Today brings advance GDP and PCE plus the ECB decision, all after the 6:15 AM ET cutoff; Friday brings Canada tariff product-list changes.