Markets navigating by sight

While September seemed to have dispelled two major doubts (China and the Fed), October seems to have injected new doubts as the market asks for more Chinese stimulus and US macroeconomic data continues to surprise positively. If we add to this the many areas of uncertainty, conflict in the Middle East and oil prices, trade conflicts, the dispersion of microeconomic results and, of course, the extremely close US presidential elections, it is easy to see that the market is navigating by sight, with a few anomalies such as credit (which is very resilient). Not a lot of major macro data this week, but plenty of micro releases (Barclays, Boeing, Coca-Cola, GE, GM, Amazon, Mercedes-Benz) and Moody’s' review of France's rating .