- European indices ended the last trading session lower this week. Germany's DAX lost more than 0.77%, France's CAC40 fell 0.96%.The sentiments in the region was spoiled by fashion companies, which lost in the face of Richemont's worse-than-expected Q3 financial results.
- On Wall Street, the situation is quite different, with the US100 index trading at new weekly highs. Microsoft shares rocketed today to the highest levels in the company's history and Meta Platforms gains amid new business contract for VR headsets to Chinese giant Tencent. The Nasdaq index gains 1.8%, the S&P500 adds 1.33% and the Russell 2000 gains 1.05%.
- Synaptics shares are up 14% today - the company managed to beat earnings per share and revenue expectations, and its CEO stressed that the company's business is close to a positive 'turning point'
- The latest University of Michigan data did not inspire Wall Street optimism. Consumer sentiment fell below the levels seen in the last reading and clearly below market expectations. Significantly, however, a review of inflation forecasts at a 1-year horizon showed that despite an expected drop in CPI growth forecasts to 4%, the reading pointed to a level of 4.4%. Previously, forecasts had indicated a level of 4.2%. The 5-year data showed similar dynamics. The reading at 3.2% versus the expected 3% and an earlier reading of 3%.
- Precious metals are down sharply in today's session. Gold is losing more than 1.12% intraday and is trading in the $1936 per ounce zone. Palladium and platinum are losing more than 2%.
- Crude oil - both Brent and WTI are gaining more than 2% today. Increases on NATGAS are minimal, with contracts gaining 0.4%.
- Futures contracts for the US dollar index are trading down slightly today, losing 0.05%. EURUSD is trading 0.18% higher but still below the psychological resistance zone at 1.07
- Cryptocurrencies are still trading in a great mood. Bitcoin posted close to 2% gains today, while Solana gains 13% and climbs to levels not seen since May 2022
- Ethereum is holding near $2,100 - the cryptocurrency has been doing very well lately supported by speculation around BlackRock's creation of the iShares Ethereum Trust - documents for BlackRock's creation of a Bitcoin-adequate 'ETF' were filed yesterday, in the state of Delaware
Ethereum lead altcoin rally and hit levels from 2022 record summer highs, when the ETH price skyrocketed due to so called 'Ethereum Merge'. Source: xStation5
Daily Summary: Technology Drives Wall Street to Record Highs Despite Tensions in the Persian Gulf
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