• Macro: It was a risk-off session equity markets yesterday, with the Eurostoxx600, the Nasdaq, and the S&P500 all moving lower, as disappointing outlooks from a two influential MAG7 stocks and higher than expected inflation data weighed on investor sentiment. In economic news in the day ahead, US Non-Farm payrolls are expected to come in at just 105K, well below the recent run-rate on the back of weather disruption, albeit the unemployment rate is expected to remain flat at 4.1%. We will also have October manufacturing PMI data out of the US, UK and Ireland.
• Stock: We have updates on Amazon, Apple and Greencoat Renewable. (Comment attached)
• Debt: Bonds in the UK continued to sell-off yesterday, as traders weighed the scale of the increased borrowing and planned spending announced in Wednesday’s budget.

Opportunities this week:

• We believe it is an opportune time to highlight Grafton as a buying opportunity, with the upcoming general election in the UK a likely positive catalyst for the company. (BUY PT: £11.30)
• We reiterate our BUY rating on Microsoft following the recent announcement of its new range of PCs which will be optimised for artificial intelligence tasks. (BUY PT: $479)
• We reiterate our take profits call on AstraZeneca reflecting a stretched valuation in our view, we are also dropping the stock from our research coverage