Stock markets futures eased after gold prices surged past $2,400, reflecting a flight to safety. This precious metal rally is often seen as a counterbalance to equity risk sentiment, especially in heightened geopolitical climates. Firstly, we acknowledge that Hubbell has a significantly high ROE. Additionally, the company's ROE is higher compared to the industry average of 11% which is quite remarkable. As a result, Hubbell's exceptional 21% net income growth seen over the past five years, doesn't come as a surprise. The US services sector gauge from the Institute for Supply Management fell 2 percentage points to 50% in September from the previous month. The reading was below the 51.7% economists' forecast, per Bloomberg consensus data. Nasdaq 100 futures extended gains into the fourth session, supported by mega-cap growth stocks. Analysts believe earnings momentum in cloud and cybersecurity segments could help sustain valuation premiums.
