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Happy Monday! With U.S. tech stocks trading down and Chinese names up again to start the week, it looks like institutional investors may be repositioning and rotating into China stocks. Billionaire David Tepper is going all-in on China, but maybe he just likes investing in red things: beaten-down Asian stocks and Andy Dalton. Plus, could a strike at a shipping port reignite inflation fears?

—Aaron Bry

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MARKET SNAPSHOT

Last Week: The market rallied to new all-time highs last week as optimism in China helped start a rally in that sector. Casino names, particularly those with exposure to Macau, ripped higher on Friday with $WYNN closing up more than 7%.

On Our Radar: Some earnings on the way this week with names like Royal Caribbean and Nike set to report, plus we will get market-moving labor data on Friday before the open. Today is the last day of Q3, which could lead to some rebalancing and increased volatility.

TOP STORY

Japan's Nikkei Plummets Over 2,000 Points Amid Change Of Guard, While Chinese Market Extends Stimulus-Driven Run

Basically: The major Asian markets diverged on Monday as country-specific catalysts drove the averages to either side of the unchanged line. Amid the development, the U.S. index futures remained unchanged, with a slight positive bias.

Geopolitics Weighs On Japan: Japan’s key stock market gauge, the Nikkei 225 average, gap-opened lower and fell sharply in early trading. Here’s why Japanese names are down while Chinese names are ripping higher.

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FIVE ZINGERS

Bumpy Road Ahead: Stellantis lowered its revenue guidance overnight, sending virtually every stock in the auto industry lower. Here’s what’s going on.

Chip Wreck: Semiconductor stocks like NVIDIA and AMD are trading lower as we head into the new trading week. These are the stocks making the biggest moves.

Choppy Waters: Royal Caribbean reported earnings before the open today. And it looks like the water’s getting a little rough.

Another Day, Another Meme Coin: Crypto traders are capitalizing on the latest viral trend to be turned into a meme coin. Hey, at least this one’s pretty cute.

Your Chance At $30k Risk-Free: Benzinga's World Championship of Trading is about to take off, and all you have to do is sign up and paper trade for your chance at the prizes.

ONE FOR THE ROAD

Economist Ben Golub Sounds Alarm On Upcoming US Shipping Strike Affecting 36 Ports: 'Chaotic Supply Chain Crisis' Of 2021-2022 Threatens To Resurface

Basically: In a stark warning reminiscent of the supply chain disruptions that plagued global commerce in 2021-2022, Northwestern University professor Ben Golub predicts potential chaos as the United States braces for its largest shipping strike in decades.

What Happened: The economist’s analysis, shared on social media platform X, highlights the fragility of modern supply networks and the far-reaching consequences of localized disruptions. And now experts worry a strike could lead to increased inflation, which could be bad news for stocks.

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