Bloomberg Market Wrap 10/3: Defensives, Momentum ETF, Copper/Gold Ratio

The video discusses recent PMI data, highlighting a decline in services PMI and a slight improvement in manufacturing. Equity markets initially reacted negatively but ended positively. Defensive sectors continue to outperform. The MTUN ETF has seen significant outflows, with a focus on its holdings in tech, financials, and healthcare. The copper-gold ratio is at a low, influenced by global manufacturing slowdowns and expectations of Fed rate cuts, making gold more attractive as a safe haven.

What does the services PMI reading indicate about the market?

How did the equity markets react to the news mentioned in the text?

What trend is observed in the defensive sectors during the first three trading days of the fourth quarter?

What significant outflow was noted for the iShares edge MSCI USA Momentum ETF?

How does the copper-gold ratio reflect the current market conditions?