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Wall Street extends the sell-off at the end of the session, with the biggest declines seen in the US100 tech stock index (-1.70%). The US500 and US2000 lose 1.10% each. Investors are awaiting the results of Tesla and IBM, which will be released after today's session in the US.
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The declines are further supported by a strengthening dollar. The USDIDX dollar index gains as much as 0.45% to 104.3500. Other strong currencies today are EUR and CAD. The weakest performer is the Japanese yen, which is losing value amid uncertainty ahead of elections in Japan.
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U.S. bond yields are also rising sharply, moving away from the 4.00% barrier. Two-year bond yields rise to 4.08%, while ten-year yields increase to 4.24%. The TNOTE index, which reflects ten-year bond prices, is down 0.20% today to 111.0000 points.
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Coca-Cola's results show a 10% year-on-year earnings per share growth, but stagnation in revenues and low volume growth. Shares are down almost -1.5%. After an e.Coli bacteria scandal, McDonald's shares lose nearly 6%.
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Starbucks shares are flat, recovering losses despite a 6% decline in comparable sales in the U.S. and nearly a 14% drop in sales in China; both measures fell far short of forecasts, and the results disappointed expectations.
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Teledyne Technologies sees a 5% increase, driven partly by defense sector orders; earnings per share grew by over 30% year-on-year, with sales rising by just under 3%. AT&T shares also gain more than 4%.
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The Bank of Canada cut interest rates by 50 basis points from 4.25% to 3.75%, as expected. Following the decision, the Canadian dollar weakens slightly, but the decision itself is no surprise to the market.
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The number of homes sold in the U.S. for September was 3.84 million versus 3.88 million forecasted and 3.88 million previously (a -1% year-on-year decline, compared to -2.5% previously). The median price was $404,500, a 3% increase year-on-year.
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A preliminary consumer sentiment indicator for the eurozone was published for October. The indicator showed -12.5 versus -12.5 forecasted and -12.9 in September.
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OIL.WTI is down 0.90% to $70.70 per barrel. Selling pressure accelerated after the EIA report showed crude inventories rose significantly in the last week to 5.474 million barrels, compared to 0.8 million forecasted and -2.191 million previously. Before the report, OIL.WTI was trading at $71.30.
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Along with the stock market, the cryptocurrency market is also losing ground. Bitcoin falls below the $66,000 mark, down 2.40%. Ethereum is seeing even larger losses, down 4.50% to $2,500.
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The U.S. intelligence agency indicated in a special report that China's nuclear program is more advanced than previously thought. By 2030, the country is expected to possess 1,000 nuclear warheads.
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