• Final debate between Trump and Biden
• Pelosi said stimulus deal is close
European indices finished today's session in mixed moods as investors remain concerned that new restrictions implemented to contain the spread of the pandemic will negatively impact on Europe's economic recovery, after France and Spain became the first Western European countries to exceed 1 million infections. On the earnings front, electrical equipment group Schneider Electric SE, consumer group Unilever, Swedish bank SEB, Norway's DNB, and biofuel producer and oil refiner Neste all posted upbeat quarterly figures while Swedish hygiene products group Essity disappointed. During today's session DAX 30 fell 0.12%, both the CAC 40 and FTSE MIB dropped 0.5%; and the IBEX 35 lost 0.22%. Meanwhile, the FTSE 100 rose 0.16%.
The Dow Jones and the S&P 500 are swinging between gains and losses, while the Nasdaq fell 0.6%, after House Speaker Pelosi announced that stimulus deal is “just about there” but warned that it could take “a while” for Congress to actually write and vote on relief legislation. Today market attention will turn to the final debate between Donald Trump and Joe Biden, amid news that Iran is taking steps to interfere in the U.S. presidential election, and Russia has obtained American voter information. Meanwhile the number of Americans filing for state unemployment benefits last week dropped more than expected to 787,000 – its lowest level of the pandemic. But it is still nearly four times higher than pre-pandemic levels. On the corporate front, Tesla reported its fifth straight quarter of profits, The company had already reported that it delivered a record number of 139,300 vehicles during the quarter. Coca-Cola posted a stronger-than-forecast profit for the previous quarter. CSX, Dow Inc and AT&T stocks also rose on the back of better-than-expected earnings. Meanwhile Chipotle Mexican Grill shares fell 6.4% after company confirmed that shift to delivery orders increased costs and led to reduced drink sales in the third quarter. Intel is due to report today after markets close.
U.S. crude futures rose 2% higher, while the international benchmark Brent contract climbed 1.8 % attempting to recover from yesterday’s session sharp losses. Meanwhile Libyan oil exports are quickly accelerating into October as loading restarts following the easing of a blockade by eastern forces. Elsewhere, gold futures fell 1.2% to $1,900/oz, while silver is trading 2.0% lower around $24.50/oz amid stronger US dollar.
Silver – price bounced off the major resistance at $25.00/oz and is heading towards lower limit of the tringle pattern. Should break below occur, then downward move may accelerate towards next support at $22.15/oz. Source: xStation5This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
