Daily summary: Slightly correction starts on Wall Street. US2000 drops 1.6%, Tesla slides 6.5% ๐Ÿ“‰

6:44 PM 12 November 2024
  • The mood during the European and Asian sessions was weaker today. The DAX index retreated 2%, and the British FTSE fell more than 1.2%. The Hang Seng retreated more than 2.8%, on a wave of disappointing results from a stimulus program that the market deemed clearly insufficient. The index retreated below 20,000 points
  • Germany's ZEW index indicated a sizable drop in economic sentiment to 7.4 versus 13 forecast and 13.1 previously. Germany's assessment of current conditions fell to -91.4 from -86.9 in the previous reading; well below forecasts of -85.9, which called for a slight improvement.
  • U.S. indexes are recording declines in the second part of the U.S. session. Downward pressure is evident in the Russell 2000 index, with contracts losing nearly 2%. The US500 and US100 are losing in the -0.3% to -0.5% range. The U.S. dollar index rises to multi-month highs above 106, and 10-year bond yields rise 12 basis points to 4.45%. Weaker data from Europe and a strong U.S. economy send the EURUSD down nearly -0.4% today
  • Tesla shares are down more than 6%, where we see accelerated profit taking after a wave of recent 'astronomical' gains. The semiconductor sector is also performing poorly, with Micron Technology's shares losing over 5% after a report from Edgewater Research suggesting lower prices for memory NAND chips in 2025
  • The strong dollar is putting pressure on the precious metals market, with gold losing nearly 1% and palladium retreating 4%. Among agricultural commodities, cotton futures on ICE are losing heavily. Nearly 2% is lost on the CBOT for wheat and soybeans, where the expensive dollar favors lower prices. Energy commodities i.e. natural gas and oil are not seeing much volatility today 
  • The New York Fed's survey of 3-year expected inflation in the U.S. fell to 2.5% in October from 2.7% previously, and the 5-year inflation rate fell to 2.8% from 2.9% previously. U.S. households viewed inflation at 2.9% in 2025. This is the lowest forecast in four years.
  • US households see the lowest probability of an increase in the U.S. unemployment rate over the next year since February 2022. They also pointed to a lower probability of losing their current job and better prospects of finding a new one if they are laid off; October saw a decline in the probability of debt default, the first time in 5 months.
  • Comments from the Fed's Barkin and Waller indicate that policy has already been adjusted, to a less restrictive level, and future moves by the bank will depend on data. The Fed will turn its attention to inflation or a decline in employment. Waller criticized the idea of creating a so-called CBDC currency.
  • The cryptocurrency market is still in an upbeat mood; Bitcoin remains above $87.5K, and Ripple is up more than 10%, to around $0.7, on a wave of news about a possible meeting between CEO Brad Garlinghous and Donald Trump.
  • According to Washington Post reports, Donald Trump will consider halting the blockade of TikTok in the US. Snap shares fell more than 5% today; partly under pressure from these comments, suggesting a 'consolidation' of its largest competitor in the domestic market
  • Bank of America estimates 13% y/y earnings per share growth among S&P 500 companies in 2025. 
  • According to the Sawyer Merritt report, Rivian lost about $39,100 on each car produced in the third quarter of the year. In Q2, the loss was $32,700. The EV manufacturer's shares are losing more than 4% today


Source: xStation5

Share:
Back

Join over 1 000 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissรฃo de Valores Mobiliรกrios (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits

We use cookies

By clicking โ€œAccept Allโ€, 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 25 October 2024
test_cookie cc 24 October 2024
adobe_unique_id cc 24 October 2025
__hssc cc 24 October 2024
SESSID cc 2 March 2024
__cf_bm cc 24 October 2024
intercom-id-iojaybix cc 21 July 2025
intercom-session-iojaybix cc 31 October 2024
xtbCookiesSettings cc 24 October 2025
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings cc 24 October 2025
userPreviousBranchSymbol cc 24 October 2025
TS5b68a4e1027
intercom-device-id-iojaybix cc 21 July 2025
__cf_bm cc 24 October 2024
__cfruid
__cfruid
__cf_bm cc 24 October 2024
__cf_bm cc 24 October 2024
_cfuvid
adobe_unique_id cc 24 October 2025
_cfuvid
TS5b68a4e1027
xtbCookiesSettings cc 24 October 2025
SERVERID
TS5b68a4e1027
__hssc cc 24 October 2024
test_cookie cc 1 March 2024
__cf_bm cc 24 October 2024
_cfuvid
_cfuvid
__cf_bm cc 24 October 2024
__cf_bm cc 24 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-98728395-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_gcl_au cc 22 January 2025
_ga_CBPL72L2EC cc 24 October 2026
_ga cc 24 October 2026
__hstc cc 22 April 2025
__hssrc
_vwo_uuid_v2 cc 25 October 2025
_ga_TC79BEJ20L cc 24 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
af_id cc 23 February 2025
afUserId cc 25 January 2026
af_id cc 24 January 2026
AF_SYNC cc 1 February 2024
_ga cc 24 October 2026
_gid cc 25 October 2024
_ga_CBPL72L2EC cc 24 October 2026
__hstc cc 22 April 2025
__hssrc
_ga_TC79BEJ20L cc 24 October 2026
_gcl_au cc 22 January 2025
AnalyticsSyncHistory cc 31 March 2024

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 18 November 2025
_omappvp cc 6 October 2035
_omappvs cc 24 October 2024
_uetsid cc 25 October 2024
_uetvid cc 18 November 2025
_fbp cc 22 January 2025
fr cc 7 December 2022
_ttp cc 22 January 2025
_tt_enable_cookie cc 22 January 2025
_ttp cc 22 January 2025
hubspotutk cc 22 April 2025
IDE cc 10 November 2025
YSC
VISITOR_INFO1_LIVE cc 22 April 2025
hubspotutk cc 22 April 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 25 October 2024
_uetvid cc 18 November 2025
_ttp cc 22 January 2025
MUID cc 18 November 2025
_fbp cc 22 January 2025
_tt_enable_cookie cc 22 January 2025
_ttp cc 22 January 2025
li_sugr cc 30 May 2024
guest_id_marketing cc 24 October 2026
guest_id_ads cc 24 October 2026
guest_id cc 24 October 2026
muc_ads cc 24 October 2026
VISITOR_PRIVACY_METADATA cc 22 April 2025
MSPTC cc 18 November 2025
IDE cc 18 November 2025
MSPTC cc 18 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
bcookie cc 24 October 2025
lidc cc 25 October 2024
UserMatchHistory cc 31 March 2024
bscookie cc 1 March 2025
li_gc cc 22 April 2025
bcookie cc 24 October 2025
li_gc cc 22 April 2025
lidc cc 25 October 2024
personalization_id cc 24 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