- Europe in red but US hits more records
- Goldman disappoints with earnings
- US, China sign trade deal
- Oil declines after the inventory data
Wednesday wasn’t particularly joyful on the markets during the European session. Investors were aware of the incoming signing of the PhaseOne trade deal as well as of gloomy German data that showed 2019 growth at just 0.6%. Both factors were long discounted and it seemed like a disappointing quarterly report from Goldman Sachs could tip the markets lower. That changed after the US opening when US indices literally skyrocketed higher, scoring fresh all-time highs for all key ones: US500, US30 and US100. US500 hit 3300, nearly a 1000 points above lows from December 2018. Investors were quick to ignore slowly mounting remarks from the Fed officials that quasi-QE repo policy could cause excessive risk taking as the Fed seems in no rush to change anything despite admitting the obvious. Relentless US bull market helped Europe out of the hole but some markets (like ITA40, -0.65%) still finished the day lower.
FX was much calmer with EURUSD gathering momentum after defending 1.11 last week. That also helped other European currencies. The past few days were very negative for the Brazilian real –USDBRL is up more than 1% today and trades at the highest level in more than a month.
Precious metals managed to recover from a recent slump and especially platinum was a star – the metal gained 3% and trades at the highest level in 2 years! Fuels inventory data in the US was mixed with oil inventories lower but gasoline inventories much higher – OIL and OIL.WTI slid for another day.
Oil market is well supplied and prices retreat as Middle East tensions ease. There’s still plenty of room until the $57 support zone is met. Source: xStation5
The crypto market is gaining momentum as Bitcoin is followed by some alts. Dash is a king today – the alt was above 50% up at some point today!
Thursday is quite interesting in the calendar especially with retail sales report in the US and more quarterly earnings. We will be posting about all this for you.
Daily Summary: Wall Street ends the week with a calm gain 🗽 Cryptocurrencies slide
NATGAS surges 5% reaching 3-year high 🔎
3 markets to watch next week (05.12.2025)
US100 gains after PCE data 📈
The content of this report has been created by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, (KRS number 0000217580) and supervised by Polish Supervision Authority ( No. DDM-M-4021-57-1/2005). This material is a marketing communication within the meaning of Art. 24 (3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (MiFID II). Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to regulatory technical standards for the technical arrangements for objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for disclosure of particular interests or indications of conflicts of interest or any other advice, including in the area of investment advisory, within the meaning of the Trading in Financial Instruments Act of 29 July 2005 (i.e. Journal of Laws 2019, item 875, as amended). The marketing communication is prepared with the highest diligence, objectivity, presents the facts known to the author on the date of preparation and is devoid of any evaluation elements. The marketing communication is prepared without considering the client’s needs, his individual financial situation and does not present any investment strategy in any way. The marketing communication does not constitute an offer of sale, offering, subscription, invitation to purchase, advertisement or promotion of any financial instruments. XTB S.A. is not liable for any client’s actions or omissions, in particular for the acquisition or disposal of financial instruments, undertaken on the basis of the information contained in this marketing communication. In the event that the marketing communication contains any information about any results regarding the financial instruments indicated therein, these do not constitute any guarantee or forecast regarding the future results.
