- Wednesday's session on European stock markets ended in a mixed mood. Germany's DAX closed the session nearly 0.33% lower, while France's CAC40 added 0.05%, and Poland's WIG20 managed to resist supply pressure and closed 0.08% higher. The bullish rally was extended today by the Hang Seng index, although individual Chinese companies listed on Wall Street no longer show this optimism, to such an extent.
- On Wall Street, declines dominate. The only index that gains intraday is the Nasdaq (+0.1%). The worst performer at the moment is the Russell 2000, which is down 0.22%. Although sentiment in the U.S. stock market is quite weak, the VIX index is down 1%
- The S&P 500 failed to rebound and is trading down slightly in the second part of the session. Estimated deliveries reported by Tesla disappointed investors today, at 462 890 vs 463,897 exp. while production came in above forecasts. Tesla loses today almost 6%
- Production of 469,796 vehicles vs. 465,828 forecasts
- Model 3/Y Deliveries 439,975, vs. 435,920 forecasts
- Other models Production 26,128, vs. 17,640 forecasts
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Open real account TRY DEMO Download mobile app Download mobile app- Humana shares record 15% sell-off driven by lower demand for the company's pension insurance. Nike shares reprice nearly 7% in response to disappointing sales and a pullback in annual forecasts; not helped by improved margins and a positive surprise in net income
- In the FX market, the number one theme remains the Japanese yen, which is already weakening nearly 1.8% against the dollar on an intraday basis, following dovish comments by Japan's new Prime Minister Ishiba.
- Fed's Barkin commented that: 'I am watching closely how lower interest rates influence home and auto sales to see if demand risks outrunning supply. 50 BPS of cuts shown as the median Fed policymaker projection for the rest of this year would also take a little bit of the edge off rates.'
- A lack of common direction also characterizes the precious metals market today, where on the one hand we see 0.6% increases in silver prices, and on the other 0.5% declines in gold prices.
- ADP non-farm employment change in the US (Sep): Current: 143k; Forecast: 124k; Previously: 89k. We see a strengthening of the dollar today, evident in a 0.2% drop in the eurodollar; stronger labor market data supported yields
- Oil prices fall and erase some of the gains after yesterday's rally. Israel has so far failed to respond to Iran's attack, although the White House as well as the IDF are still considering a military response. The OPEC+ cartel has agreed to ease production cuts in December, WSJ reports. In addition, OPEC said the organization is working with Russia, Kazakhstan and Iraq to offset past overproduction. Oil is also trading under pressure from higher-than-expected US inventories.
US crude oil inventories:: +3.8900 million Forecast -1.500 million; Previously -4.471 million
- Distillate: -1,284 million (Estimated -2,000 million; Previously -2,227 million)
- - Cushing: +840 thousand (previously +116 thousand)
- - Gasoline: +1.119 million (estimated +200 thousand; previously -1.538 million)
Wheat contracts rose more than 2% today, supported by escalation in the Middle East, weather premium; drought in the Black Sea region, Russia and the southern plains of the US. Cryptocurrency market sentiment remains weak, with Bitcoin trading at $61,500.
