- Gold continue the decline, losing more than 1%
- Indices from Europe and US decline slightly
- US earnings season in focus on Wall Street
- Gold continue the decline, losing more than 1%
- Indices from Europe and US decline slightly
- US earnings season in focus on Wall Street
- Yesterday, U.S. stock indexes rose sharply, with the Dow Jones Industrial Average and Russell 2000 climbing to new all-time highs. Investors are now focusing on tomorrow’s Federal Reserve decision — where markets expect a 25 basis point rate cut and maybe an official end to the quantitative tightening (QT) program — as well as Thursday’s summit between Donald Trump and Chinese President Xi Jinping.
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Analysts at LH Meyer believe that although halting the balance sheet reduction process is not certain, the growing strains in the short-term funding market make this scenario increasingly likely.
- After today’s session, we’ll see earnings reports from Visa, PayPal, UPS, UnitedHealth, Southern Copper, Booking Holdings, and Mondelez. Before the opening bell on Wall Street, results are expected from Novartis, NextEra Energy, Sherwin-Williams, and Royal Caribbean.
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During the Asian session, declines dominated as investors took profits after several days of gains. Japan’s Nikkei fell by nearly 300 points to 50,200, despite the recently signed trade agreement with the United States. Chinese indexes also posted modest losses.
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South Korea’s GDP grew by 1.2% in the third quarter, marking the strongest increase in more than a year. Exports of goods and services rose 6% year on year, the fastest pace since the third quarter of 2024. The manufacturing sector expanded 3.3%, while the construction sector was the biggest drag on the economy, contracting 8.1% year on year. The domestic KOSPI index slipped 0.8%.
- U.S. index futures are trading slightly lower this morning, down between 0.1% and 0.15%, with most major European futures — including UK100 and DE40 — also in the red. Gold is seeing a notable pullback, dropping more than 1% to $3,950 per ounce, followed by a decline in silver. The U.S. dollar is edging lower, while EUR/USD is up about 0.1% to 1.166. In Europe, the key data release today will be German consumer sentiment, measured by the GfK index.
- After yesterday’s U.S. session, Nucor shares gained 2% following strong third-quarter results. The steel producer reported earnings per share of $2.63, surpassing earlier guidance of $2.05–$2.15 per share (FactSet).
- Revenue reached $8.52 billion, ahead of the $8.18 billion consensus estimate. However, Nucor warned that earnings for the current quarter are expected to come in lower than those of Q3.
- F5 Networks fell more than 6% after issuing disappointing guidance, citing potential “short-term disruptions to sales cycles” following a system breach earlier this month attributed to state-backed Chinese hackers.
- Meanwhile, NXP Semiconductors, the Dutch chip manufacturer, saw its shares rise nearly 2% after reporting third-quarter results above Wall Street expectations and delivering a stronger-than-anticipated forecast for the current quarter.
- OpenAI has asked the U.S. government to massively expand its energy capacity to stay ahead in artificial intelligence. In a filing to the White House, it called for 100 gigawatts of new power each year to close the “electron gap” with China. The company warned that limited electricity could slow AI progress and economic growth.
- Yesterday, Amazon announced plans to lay off 30,000 employees, primarily from its advertising and human resources divisions. Media giant Paramount Global also confirmed the start of a round of layoffs affecting about 1,000 workers. Meanwhile, BlackRock CEO Larry Fink said that the United States will likely maintain an “overweight” rating in investment funds for at least the next 18 months.
- White House informed that U.S. signed a trade deal with Japan to collaborate on securing critical minerals, rare earths supply chain by addressing non-market policies and unfair trade practices. Taiwan Foreign Minister informedthat Taiwan, U.S. have very close cooperation on security, trade and so; asked whether worried Trump will abandon Taiwan at Xi talks: no, Taiwan-U.S. ties are very stable.
Economic calendar: US Conference Board and housing market data in focus on Wall Street
BREAKING: German GfK consumer sentiments below expectations
BREAKING: Fed Dallas Manufacturing above estimates 📈 EURUSD stable around 1.163
BREAKING: Ifo Index Slightly Above Expectations. DE40 limits jump from the session start
