Good evening, you're tuned in to Markets Desk.
Starlink is printing money even as its subscriber growth stumbles. SpaceX's satellite internet arm missed customer addition targets but held strong on profitability, leaning into high-value government contracts and a freshly acquired spectrum provider. Executives made clear they're coming for Verizon, AT&T, and T-Mobile on mobile turf next.
Shifting to currencies, the dollar index slid to a two-and-a-half-week low Tuesday, off by a quarter percent on the session. A surging Chinese yuan hitting a four-year high did much of the damage, compounded by weaker-than-expected September housing data out of the US. Equity strength also pulled capital away from dollar safe-haven positioning, leaving the greenback broadly on the back foot.
And in commodities, natural gas futures took a hard hit, settling down more than three percent Tuesday to a three-week low. The culprit is the forecast calendar — the Commodity Weather Group is calling for above-average autumn temperatures across the US, and traders are pricing out meaningful heating demand before winter even establishes a foothold. That's a significant headwind for the nat-gas bull case heading into the shoulder season.
That's the tape. Markets Desk, signing off the floor.
