Finance

Preliminary purchasing managers' index data for September revealed robust expansion across both the manufacturing and services sectors, marking some of the strongest activity metrics in recent years. This economic resilience, combined with warning remarks from central bank governors regarding sticky inflation, has significantly lifted market expectations for an October interest rate increase.

Digital assets showcased notable resilience, with Bitcoin reversing seasonal historical trends to climb above the $81,000 threshold. The broader cryptocurrency market rallied strongly despite the high-profile legislative failure of the CLARITY Act in the U.S. Senate. Industry sentiment was instead bolstered by alternative structural catalysts, such as a multi-year SEC regulatory exemption allowing tokenized U.S. equities on blockchain platforms.

West Texas Intermediate and Brent crude oil fell notably after expectations of diplomatic progress in the Middle East eased supply disruption worries. Conversely, precious metals capitalized on the shifting macro environment, with gold prices rising close to $4,310 per ounce as the U.S. dollar pulled back from its recent weekly peaks.