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US indices end the day with slight gains due to a lack of catalysts for upward or downward movement. The earnings season for companies is so far moderate. Some companies have positively surprised, but there are also results below expectations. As a result, we observe relatively low volatility in the market today.
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The US100 gains the most (+0.50%) to the level of 20,500 points, followed by the US500 (+0.45%), returning above 5,900 points, while the US2000 shows no significant changes and remains around 2,300 points.
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Chinese companies are doing relatively well today. Stocks of firms such as Alibaba, Pinduoduo, and JD.com are gaining over 2.5% after the PBoC establishment suggested that loan rates in China will be reduced on Monday.
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On Wall Street itself, Netflix and Intuitive Surgical stocks are performing very well. Both companies reported very good Q3 results yesterday after the session.
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Bostic from the Fed gave a relatively neutral interview, stating that inflation will fall to the 2.00% target by the end of 2025. The banker also believes that the natural interest rate the Fed should aim for is in the range of 3.00-3.50%. According to the banker, the labor market remains very strong, and inflation in the US is still high.
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The leaders of today's session gains are precious metals and Bitcoin. Gold hit new historical highs (+0.85% intraday), while silver is trading at its highest levels since November 2012.
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Bitcoin is trading above $68,500, approaching the psychological barrier of $69,000. The popular cryptocurrency adds 2.6% intraday.
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Waller from the Fed delivers a speech on decentralized finance, taking a relatively positive stance toward this market. Waller acknowledges the added value capable of improving some areas of traditional finance.
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