Daily Summary: US Tech Leads Gains, Palladium Soars Amid Potential Sanctions, Tesla Skyrockets

17:55 24 October 2024
  • US markets showing resilience with the tech-heavy US100 (Nasdaq) leading gains at +0.47%, while smaller indices like US2000 and US500 remain modestly positive despite last week's decline
  • Broad-based strength across major European indices with Dutch NED25 leading the charge (+0.68%), while German DE40 and pan-European EU50 follow with gains of 0.49% and 0.39% respectively
  • Mixed performance across Asian markets with Japan's JP225 rising 0.39% while Chinese indices face pressure, as evidenced by CH50cash falling 0.80% and mainland CHN.cash dropping 0.72%.
  • ECB representatives underline “no rush approach” in their monetary policy route, appeasing the rate cut expectations which has been growing steadily after more dovish statements from Christine Lagarde. According to ECB’s Makhlouf, the bank would need to see powerful data to undertake big rate cuts. ECB’s Lane on the other hand sees growth in the eurozone as promising.
  • Flash PMI UK Composite for October came in 51.7 vs 52.5 exp. and 52.6 previously
  • US jobless claims came in 227k vs 242k exp. and 241k previously, revised to 242k
  • US business activity maintained robust growth, with the S&P Global Flash Composite PMI rising to 54.3 from September's 54.0, indicating continued expansion in overall private sector output. The data exceeded market expectations of 53.8, marking sustained growth in business activity.
  • US new home sales were slightly higher than expected: 0.738M vs forecast 0.72M.
  • Palladium prices are up more than 9.5% today, after the US asked G-7 allies to consider sanctions on Russian palladium and titanium. The price of the metal is supported also by safe haven demand and a great year for precious metals; especially gold and silver. Russian company Nornickel represents almost 40% of global palladium production, so any sanctions may be really disruptive, potentially lifting prices.
  • Shares of semiconductor manufacturing services and equipment company Lam Research (LAM.US) and UPS (UPS.US), the largest U.S. logistics company, are gaining nearly 6% today. 
  • Tesla's Q3 results exceeded Wall Street expectations in several crucial areas. This has led to a gain of more than 20% today.
  • Natural gas inventories rose by 80 billion cubic feet last week, above the expected 65 billion and higher than the previous 76 billion cubic feet. Natgas is currently 1.2% higher.
  • USD experiences a strong retracement after robust PMI and housing market data further cooling interest rate cut expectations. USDJPY ticks 0.7% lower, Euro gains 0.35% against dollar, GBPUSD jumps even higher (+0.45%) 
  • The cryptocurrency market sees steady gains. Bitcoin recovers its entire loss from yesterday as it adds 1.9%, Ethereum trades 0.54% higher, Dogecoin rises by 1.58% and Solana gains 2.6%.
  • Aside from a railing palladium, other precious metals gain more modestly. Gold adds 0.8%, recovering most of yesterday’s losses. Platinum is up by 0.5%. Silver traded flat throughout the entire session, retracting 0.1%.

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.

Back

Join over 1 Million investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
Description
SERVERID
userBranchSymbol cc 17 October 2024
adobe_unique_id cc 16 October 2025
test_cookie cc 1 March 2024
SESSID cc 9 September 2022
__hssc cc 16 October 2024
__cf_bm cc 16 October 2024
intercom-id-iojaybix cc 13 July 2025
intercom-session-iojaybix cc 23 October 2024
xtbCookiesSettings cc 16 October 2025
xtbLanguageSettings cc 16 October 2025
TS5b68a4e1027
countryIsoCode
userPreviousBranchSymbol cc 16 October 2025
TS5b68a4e1027
_cfuvid
intercom-device-id-iojaybix cc 13 July 2025
__cfruid
__cf_bm cc 16 October 2024
__cf_bm cc 16 October 2024
_cfuvid
adobe_unique_id cc 16 October 2025
TS5b68a4e1027
_cfuvid
xtbCookiesSettings cc 16 October 2025
SERVERID
TS5b68a4e1027
__hssc cc 16 October 2024
test_cookie cc 1 March 2024
intercom-id-iojaybix cc 13 July 2025
intercom-session-iojaybix cc 23 October 2024
intercom-device-id-iojaybix cc 13 July 2025
UserMatchHistory cc 31 March 2024
__cf_bm cc 16 October 2024
__cf_bm cc 16 October 2024
__cf_bm cc 16 October 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
Description
_gid cc 9 September 2022
_gat_UA-22576382-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_ga_CBPL72L2EC cc 16 October 2026
_ga cc 16 October 2026
AnalyticsSyncHistory cc 8 October 2022
af_id cc 31 March 2025
afUserId cc 1 March 2026
af_id cc 1 March 2026
AF_SYNC cc 8 March 2024
__hstc cc 14 April 2025
__hssrc
_vwo_uuid_v2 cc 17 October 2025
_ga_TC79BEJ20L cc 16 October 2026
_vwo_uuid cc 16 October 2025
_vwo_ds cc 15 November 2024
_vwo_sn cc 16 October 2024
_vis_opt_s cc 24 January 2025
_vis_opt_test_cookie
_ga cc 16 October 2026
_ga_CBPL72L2EC cc 16 October 2026
__hstc cc 14 April 2025
__hssrc
_ga_TC79BEJ20L cc 16 October 2026
af_id cc 31 March 2025
afUserId cc 1 March 2026
af_id cc 1 March 2026
AF_SYNC cc 8 March 2024
_gcl_au cc 14 January 2025
AnalyticsSyncHistory cc 31 March 2024
_gcl_au cc 14 January 2025

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
Description
MUID cc 10 November 2025
_omappvp cc 28 September 2035
_omappvs cc 16 October 2024
_uetsid cc 17 October 2024
_uetvid cc 10 November 2025
_fbp cc 14 January 2025
fr cc 7 December 2022
muc_ads cc 16 October 2026
lang
_ttp cc 10 November 2025
_tt_enable_cookie cc 10 November 2025
_ttp cc 10 November 2025
hubspotutk cc 14 April 2025
YSC
VISITOR_INFO1_LIVE cc 14 April 2025
hubspotutk cc 14 April 2025
_uetsid cc 17 October 2024
_uetvid cc 10 November 2025
_ttp cc 10 November 2025
MUID cc 10 November 2025
_fbp cc 14 January 2025
_tt_enable_cookie cc 10 November 2025
_ttp cc 10 November 2025
li_sugr cc 30 May 2024
guest_id_marketing cc 16 October 2026
guest_id_ads cc 16 October 2026
guest_id cc 16 October 2026
MSPTC cc 10 November 2025
IDE cc 10 November 2025
VISITOR_PRIVACY_METADATA cc 14 April 2025
guest_id_marketing cc 16 October 2026
guest_id_ads cc 16 October 2026
guest_id cc 16 October 2026
muc_ads cc 16 October 2026
MSPTC cc 10 November 2025
IDE cc 10 November 2025

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
Description
personalization_id cc 16 October 2026
UserMatchHistory cc 8 October 2022
bcookie cc 16 October 2025
lidc cc 17 October 2024
lang
bscookie cc 8 September 2023
li_gc cc 14 April 2025
bcookie cc 16 October 2025
lidc cc 17 October 2024
bscookie cc 1 March 2025
li_gc cc 14 April 2025
personalization_id cc 16 October 2026

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence
Language