Wall Street erased the gains recorded at the start of the session. The Nasdaq index gained 0.12%, while the S&P500 lost 0.28%, the Dow Jones 0.55% and the Russell 2000 lost more than 0.67%.
According to the Washington Post, the U.S. government has notified Fed employees that a suspension of operations appears imminent, as the Biden administration begins the formal process of preparing much of Washington for a halt in business on Sunday.
Start investing today or test a free demoOpen account Try demo Download mobile app Download mobile app
With the upcoming release (Sunday, October 31) of Tesla's (TSLA.US) Q3 car shipments data, Piper Sandler has lowered its Q3 forecast by more than 10% from 515,000 previously to 445,000.
Investors' attention during today's US trading session turned to Nike (NKE.US), which gained more than 7% following the release of its results.
Initial gains also seemed to be fuelled by new UoM data. While the economic data came out generally very upbeat - the better for the markets was the significant drop in inflation expectations from the previous reading.
The most important macro reading of today's session was the PCE inflation and income spending data of Americans. In the main, the readings fell in line with market expectations with only minor deviations in the MoM and private consumption data.
Inflation in the Eurozone is falling harder than expected, further reducing the chances of another hike by the ECB.
According to preliminary data, the British economy expanded at a rate of 0.2% quarter-on-quarter and 0.4% year-on-year between April and June 2023. Revised data released today confirmed the 0.2% quarter-on-quarter expansion, but the year-on-year figures were revised upward to 0.6% y/y.
Precious metals are trading under selling pressure, with silver contracts retreating from a near 3.8% gain and currently losing 1.7%. Gold is losing 0.8%.
Deteriorating market sentiment has also affected the price of WTI crude oil, which is currently losing nearly 1.44% on an intraday basis.
At the moment, the best performing currency on FX market is NZD; the worst performing is CAD.
This 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.