Senior Investment Strategist at Edward Jones here in new york. Were seeing a dent in risk appetite. The market is grappling with a variety of worries tensions in the Middle East, a Port Strike and election uncertainty. Do you expect to see volatility . Are there any opportunities . Yes, it is great to be here, and we are moving nicely thus far this year and we are moving nicely thus farthis year in and we are moving nicely thus far this year in the snp 500, up far this year in the snp 500, up nearly 20 . As you noted, youre heading into a choppy October Period and facing mounting walls of worry in the market, including the upcoming election on November The 5th and the ongoing Port Strike on the Eastern Seaboard as well as growing escalations and tensions in the Middle East. We say investors in markets should prepare for bouts of volatility ahead of a 20 rally also, that is a natural next step in terms of what might happen in markets. We are probably due for a period of pull back, but we think investors can lean into Volatility Opportunity because the broader fundamental backdrop, one where the fed is cutting rates, inflation is moderating and the economy, the us economy in particular, looks headed toward a soft landing. That is eight good backdrop for investors. , ~ investors. The focus this week will be on investors. The focus this week will be on the investors. The focus this week will be on the job investors. The focus this week will be on the Job Status will be on the Job Status tomorrow. What do you expect going into it and are those cuts enough to support this market . It cuts enough to support this market . ,. ,. , cuts enough to support this market . ,. ,. , market . It is a great callout. The fed Has Market . It is a great callout. The fed has been market . It is a great callout. The fed has been squarely the fed has been squarely focused on the us Labour Market. It was about inflation up market. It was about inflation up front and they think that has moderated and can continue doing so and now the focus has shifted to the other mandate, the us Labour Market. That has clearly shown signs of cooling, new jobs clearly shown signs of cooling, newjobs added have moved lower, unemployment has ticked higher. We would expect some stabilisation and the Unemployment Rate to remain steady at 4. 2 , we expect wage gains, a proxy for services inflation, to take lower, good news. And more broadly, even though the Unemployment Rate is at 4. 2 , above the 3. 4 last year, it is well below the long Term Average of about 5. 56 , long Term Average of about 5. 5 6 , and part of this rise has been driven by new entrants to the workforce rather than massive Job Cuts and Lay Offs. That is the better scenario in terms of Consumer Confidence and Consumer Spending broadly. Labour Market Cooling but not collapsing and we expect that tomorrow as well. Mil collapsing and we expect that tomorrow as well. Collapsing and we expect that tomorrow as well. All eyes on that. Thanks to Mona Mahajan of Edward Jones. Lets get into some more detail about the us economy now, because the number of people filing for Unemployment Benefits rose unexpectedly last week, according to figures out in the last hour. Initial benefits claims were up by 6,000 for the week ending september 28th, to 225,000. Pete earle is senior economist at the American Institute For Economic Research a Free MarketThink Tank in great barrington, massachusetts. The biggerfocus will the bigger focus will be on the Job Status tomorrow. What are you expecting and how important is the state are going to be for the fed when it meets next month . , ,. , month . This is very important because the month . This is very important because the fed month . This is very important because the fed has month . This is very important because the fed has a month . This is very important because the fed has a dual. Because the fed has a dual mandate, which is inflation and the Price Level and unemployment, and with the inflation continuing the way it has an Job Market starting to show signs of weakness, this will be their focus. I think we will be their focus. I think we will see 150,000 jobs created an Unemployment Rate steady at an Unemployment Rate steady at a point at about 4. 2 . We have other data and they are painting a different picture to what we are seeing in the bureau Of Labour Statistics report, so it is good to look numerous sources and its clear whatever the numbers show tomorrow, in other areas, we are seeing more weakness in the Employment Market and we have seenin Employment Market and we have seen in some time. Seen in some time. Speaking of aintin seen in some time. Speaking of painting a seen in some time. Speaking of painting a different seen in some time. Speaking of painting a different picture, painting a different picture, this is said to be the last clean weed before we start to see the impact of the hurricane, and the Boeing Strike Star to show up in the data. What are you expecting in terms of the outlook for the Labour Market . It terms of the outlook for the Labour Market . Labour market . It will be difficult for Labour Market . It will be difficult for the Labour Market . It will be difficult for the fed Labour Market . It will be difficult for the fed to Labour Market . It will be | difficult for the fed to sift through the signal to noise ratio, because we will have the effect of the hurricane, the Port Strike, Work Stoppage at boeing, and of course also this is the time of year we will have seasonal events with the Automotive Industry so tomorrow will be the first clean one we get in a while and it will look not only at the bls numbers but also the numbers from states in terms of reports on Lay Offs and set up companies, and all the other various ways we track unemployment. This will be the last clear one for some time. Thanks to Pete Earle at the American Institute For Economic Research. To tech now and Openai Hasjust become one of the most valuable Start Ups in the world. The maker of the Ai Chatbot chatgpt has been run as a � not for profit� since it was founded in 2015. According to reports, it is changing its corporate structure from a � not for profit� to a profit making firm, hence the surge of interest from investors. So, to the numbers. It has raised 6. 6 Billion in funding. Major Backer Microsoft is increasing its Stake And Chip making Giant Nvidia is coming on board. The deal values openai at 157 billion. Thats similar to the Investment Banking Giant goldman sachs and more than most of americas biggest companies. According to the financial times, investors have to agree not to put money into rival ai firms. Fiona cincotta from City Index told us about the scramble to get in on the deal. This was very oversubscribed, there was a lot of Demand And Thatis there was a lot of demand and that is basically because openai has been expected to lead the next wave of generative ai. Lead the next wave of generative al. The expectations are for revenue to almost triple next year. £211. 5 billion, from 3 Billion at the moment. This is a stock that is expected to be at the foundations of the next level of generative ai. Because of that, there was really strong demand, and as a result there was some very secular arrangements particular arrangements particular arrangements to the deal for funding. There were requirements for exclusivity and this wasnt mentioned as being done on a convertible space, that is meaning be conversion to equity is hinging on the successful structural change from that for profit, into a Profit Making Organisation from the nonprofit organisation from the nonprofit organisation it is currently. To the worlds richest man now Elon Musk. The multi Billionaire Owner of Tesla And Spacex is due to testify today before the us financial watchdog the sec over his 41; billion buyout of twitter, now called x. Regulators are investigating whether he took too long to disclose he was building up a stake in twitter before acquiring the social Media Platform in 2022. Musk was due to testify back in september but failed to show up. Social Media ConsultantDrew Benvie told us more about his fractious relationship with financial regulators. Hes had other things on at the time. He let the the lawyers that turned up to the hearing, which was due to be in los angeles, know that with three hours notice, he had a Rocket Launch to attend in cape canaveral. So he didnt turn up. And Elon Musk has had a history of accusing the sec of overzealous scrutiny of his affairs. But what were dealing with here is potential misreporting of how many shares he had in twitter before he acquired it, which could potentially have distorted the value of twitter when he bought it, which is whats really at stake here. Yeah, well, he has been subpoenaed in the past to turn up, and he should, we hope, turn up today. But Twitter Or X as it is now known, is under scrutiny everywhere for misinformation, disinformation, the lack of safety of the Content And User numbers are plummeting. Currently here in the uk, where i am, just in the last month alone, 10 down and advertisers are less willing to put their money behind x now and advertiser numbers are plummeting. Twitter or X Or Musk or whoever this is behind it are now threatening to sue the advertisers for not putting money into it. So theres all sorts of chaos going on and the world is looking to see, will he turn up today and what will be thrown at him . In other news. The uks biggest Supermarket Tesco is upgrading its annual profits forecast after a 10 jump in first half of the year as it continues to dominate in its home market. The retailer currently holds a near 28 share of the uks grocery business, its closest Competitor Sainsbury has just 15 . Toyota is pushing back the Start Date for electric Vehicle Production in the us, as global demand for battery powered cars continues to weaken. The japanese Motor Giant was aiming to start manufacturing in late 2025. It now looks like it will be pushed back by at least a year. Several other major car makers, including volvo and ford, have recently scaled back their ev plans. Lets Take A Look at the markets. Over in europe, stocks broadly lower, the sentiment and risk over the Middle East tensions here. While continuing its percent up to. 4 . In the us, stocks are moving lower, all eyes on the Job Report Tomorrow and that is all we have got time for. Stay with us here on bbc news. Hello from the bbc sport centre. There are 3a games on thursday in the Europa League and uefa conference league. Manchester united are in portugal to face porto, a game that could have huge bearing on erik ten hags future as united boss. They are sitting in the bottom half of the Premier League after a humbling 3 0 defeat at old trafford on sunday, before that they were held to a 1 1 draw at home by twente in their Opening Match in the Europa League. This club wants to be back on top and as a long Term Project, we set a target to be back for several years, to be champion, the highest champions league, and that is a long Term Project and that is a long Term Project and we are in the boat, and we will keep going in the process every day. Tottenham should be full of confidence after that win at united. Spurs won their opening Europa League game at home last week, Beating Oarabag despite playing with ten men for most of the match, but will expect a tough game later in budapest against ferencvaros. Its going to be a great chance for us. Every european game, especially away from home, is a challenge. But i know, in the stadium, the atmosphere is going to be really good. They get behind their team, they love European Football here. And i think it is one that me and all of the players are looking forward to. Plenty of other matches later, far too many games to show you all of them, weve picked out some of the bigger sides