- The session on the American market began trading on Thursday with mixed sentiment, but as the session progressed, it became clearly negative. The publication of results from MAG7 companies indicates drastically different sentiment and conditions for companies with similar characteristics. Alphabet exceeded all expectations, Microsoft delivered a mixed report, while Meta fell over 8% despite good results. Investors are still waiting for the publication of Apple and Amazon after the session closes.
- Yesterday's speech by Jerome Powell scared some investors. The FOMC decided on a rate cut, but Jerome Powell clearly warned that the December cut is not guaranteed, despite the increasingly tense situation in the American economy.
- A similar dynamic could be observed in Europe. Investors in Europe clearly stood on the sidelines today, trying to discount today's ECB conference, the implications of new US-China trade negotiations, company results, and a solid dose of macro data. The leader of the declines is CAC40, which is down 0.5%. Smaller declines on DAX and WIG20, around 0.2%. FTSE 100 is doing better with an increase of around 0.2%.
- Today, there was a speech by ECB representatives. Led by Chairwoman Christine Lagarde, the representatives declared maintaining their reactive policy, clearly distancing themselves from their American counterparts who are under pressure for constant cuts. The ECB assured that the economy and labor market, despite weak growth, are doing well, and the risks to European growth and the financial system are decreasing despite the turbulent global environment. Investments in infrastructure and massive armaments have a positive impact on the EU economy, but the broadly understood industry remains under pressure.
- The day turned out to be disastrous for many cryptocurrency investors. Bitcoin lost over 3.5% and Ethereum over 5%. Smaller tokens are recording double-digit declines. Companies related to crypto trading are also losing.
- Gold halted its declines today. The price is rising by 1.7%. Similar increases can be observed in other precious metals.
- No major movements in the oil market. However, NATGAS contracts rose by 4% after information about reduced reserves of this resource in the USA.
- The yen is clearly losing after comments from the president of the Bank of Japan, which were received by the market as very dovish. The Japanese currency is losing almost 1% against the dollar and 0.6% against the euro.
- The Euro is also losing today, notably, the community currency began to lose before the interest rate decision and the ECB speech.
- The Trump-XI meeting ended with an extension of the trade truce for a year. China intends to limit its restrictions on the export of rare earth metals and resume soybean purchases from the USA. In return, the USA is to reduce some of its tariffs; the situation with AI chips, which China cares about, is not yet fully clear.
ECB Conference: Global Uncertainty, Policy Stability 💶
Chart of the day - Soybean (30.10.2025)
Morning wrap (30.10.2025)
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