- FOMC maintains course in minutes
- NATGAS declines 5%
- Wall Street and Europe raise
- Another ATH on Precious metals
- FOMC maintains course in minutes
- NATGAS declines 5%
- Wall Street and Europe raise
- Another ATH on Precious metals
- Today, the minutes from the latest FOMC meeting were published. Most FOMC members believe that although inflation still poses a risk, further easing of monetary policy may be necessary later this year. The committee observes a gradual slowdown in the labor market and emphasizes the importance of monitoring bank reserve levels and financial conditions. The current policy is not particularly restrictive, allowing for support of economic growth while combating inflationary pressures.
- The session in the United States was marked by gains. The Nasdaq gained 0.9%, and the small-cap index Russell 2000 rose by 1%. The S&P 500 performed slightly weaker, though still solidly, rising by 0.5%, while the Dow Jones limited its growth to 0.2%. Importantly, these gains occurred despite the ongoing U.S. government shutdown and two failed attempts to pass the budget bill in recent days. However, the most significant event of the session remains the FOMC meeting minutes, which investors are analyzing for clues regarding the future path of the Federal Reserve's monetary policy.
- European stock markets ended Wednesday's session with clear gains, with almost all key indices in positive territory. There was a clear risk-on sentiment in the markets, visible in the broad inflow of capital. The largest gains were recorded in the industrial and financial sectors. The DAX rose by 0.9%, and the CAC by over 1.1%. This was possible despite a disastrous reading from the German industry, which in August recorded a production decline of over 4%, significantly below market expectations.
- A moderately positive sentiment also persisted in the cryptocurrency market. Most major tokens ended the day with single-digit gains. ZCash stood out in the market, with its price rising by 30% during a single session. Bitcoin ended the day around 123,940 USD, while Ethereum remained in the region of 4,530 USD.
- It was a fantastic day in the market for investors in precious metals. Gold exceeded the level of 4,040 USD per ounce, reaching new historical highs. Strong gains were also recorded by silver, palladium, and platinum, reflecting the continued inflow of capital into assets perceived as safe.
- In the energy commodities market, natural gas clearly lost ground. Contracts in the U.S. fell by about 5%. The declines were driven by concerns about the upcoming heating season and oversupply of the commodity, prompting investors to reduce positions in anticipation of lower demand in the coming weeks.
- In the latest report from the U.S. Department of Energy (DOE), a significant increase in crude oil inventories was noted, which may suggest weaker demand or increased production. At the same time, gasoline and distillate inventories, such as diesel, fell, which may indicate a seasonal increase in fuel consumption. These data have a mixed impact on the market. On one hand, rising crude oil inventories may weigh on commodity prices, while the decline in ready fuels may limit this effect.
- UBS raised the target price for Micron shares from 195 to 225 USD, maintaining the "Buy" recommendation. This decision took into account strong growth prospects for demand for HBM memory used, among others, in AI. Following this news, Micron's stock price rose by about 5%.
Economic calendar: Fed, BoC and Mag 7 companies to fight for investors' attention (29.10.2025)
BREAKING: SPA35 ticks down on lower-than-expected GDP in Spain 🇪🇸 📉
BREAKING: USDSEK dip 0.15% on above-estimates GDP data in Sweden 🇸🇪
Morning wrap (29.10.2025)
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