22:02 16 October 2024
- Today’s IPO was rather quiet. The S&P 500 is trying to erase yesterday’s losses and is up 0.33%. The Nasdaq was down 0.05%. WIG20 had a strong trading day today, gaining over 1%.
- Yesterday’s market declines were linked to the retreat of the semiconductor sector following the early release of ASML‘s results, which showed a significant decline in orders.
- In the US stock market today, investors clearly prefer small-cap stocks. The US2000 index is up 1.50%, is above 2300 points and is currently testing a near three-year high.
- Morgan Stanley‘s results today were much better than expected. Profit increased over 30% year over year and investment banking profit increased over 50% year over year. The company’s shares rose over 7%.
- Tomorrow, the main event will be the Netflix earnings release after the Wall Street session as well as the US retail sales report.
- Oil prices have fallen further as market confidence grows that Israel will not attack Iran’s oil infrastructure. WTI oil retested the $70 per barrel mark.
- There was also a significant decline in the natural gas market. NATGAS fell more than 2%, falling below $2.4/MMBTU a day before the contract extension, due to high temperatures indicating low gas consumption at the start of the heating season.
- Inflation in the UK was well below expectations and the inflation target. September inflation was 1.7% year-on-year, down from the previous figure of 2.2% year-on-year. Core inflation remains high but has fallen to 3.2% year-on-year.
- The pound lost over 0.5% against the US dollar today. The GBPUSD currency pair tested the 1.30 level.
- Gold hit historic highs today at $2,685 an ounce.
- The cryptocurrency market is seeing gains, especially in Bitcoin, which surpassed $68,000 today. At the time of publication, the price is still slightly below this level, with an increase of almost 1.30%.
- While Bitcoin is seeing strong growth, other projects are underperforming, with Ethereum gaining just 0.50% to $2,620. The ETH to BTC ratio fell today to its lowest level since April 2021.
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