- Wall Street indices launched the first trading session of a new week higher but have later erased gains and turned lower
- S&P 500, Nasdaq and Dow Jones drop around 0.1% while small-cap Russell slumps over 1.5%
- European stock market indices traded lower today. German DAX dropped 0.3%, French CAC traded 0.5% lower, Dutch AEX dipped 0.1% while UK FTSE finished flat
- ECB Holzmann said he does not expect any rate cuts soon
- BoE Pill said that it is premature to talk about rate cuts but middle of the next year could be the time to change stance on rates
- Russia and Saudi Arabia reassured their commitment to keep voluntarily production cuts in place until the end of the year
- Natural gas prices dropped on the back of new weather forecasts and rising inventories in Europe
- German factory orders data for September showed 0.2% MoM increase (exp. -1.1% MoM)
- Final French services PMI for October came in at 45.2 (46.1 in flash release)
- Final German services PMI for October came in at 48.2 (48.0 in flash release)
- Final Euro area services PMI for October came in at 47.8 (47.8 in flash release)
- European Sentix index for November came in at -18.6 (exp. -22.2)
- Cryptocurrencies trade higher - Ethereum gains 0.5% while Dogecoin rallies 7% and Ripple surges 9%. Bitcoin trades flat
- Precious metals pull back as USD regained some ground. Gold trades 0.6% lower, silver drops 0.5%, platinum plunges 2.5% and palladium slides 1.6%
- EUR, CHF and USD are the best performing major currencies while JPY and NZD lag the most
Nasdaq-100 futures (US100) erased earlier losses and are now trading negative on the day. Index failed to break above bearish trendline and the nearest support can be found in the 14,650-14,750 pts area. Source: xStation5
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