Stocks rose yesterday while crude oil prices fell and gold prices also dropped. Today’s market is expected to be quiet, with the focus on the minutes from the September FOMC meeting. Despite lack of major news or data, market movements on Monday were reversed, showing uncertainty among traders due to geopolitical and economic uncertainties. Crude oil prices saw a significant decline of around 4%, possibly due to concerns about tensions in the Middle East and disappointment over China’s lack of new stimulus measures. Chinese and Hong Kong markets experienced losses, but the impact on other markets was limited. Luxury and beverage companies were affected by Chinese tariffs, but overall sentiment remained positive, with S&P and Nasdaq posting gains. The G10 FX market was quiet, with the Australian dollar showing weakness. The US dollar remained stable, but Fed rate cut expectations were higher than expected. Treasuries briefly sold off before recovering, with yields looking attractive to investors. Looking ahead, the focus is on US CPI data, while today’s agenda includes minutes from the FOMC meeting and speeches from FOMC members and ECB officials. The US will also hold a 10-year note auction.
London Business News: Market Analysis and Insights for Tuesday – Londonlovesbusiness.com
148
BREAKING NEWS
45% of UK Workers on Job Hunt Despite Anxiety – London...
45% of UK Workers Actively Job-Hunting Amidst Rising AnxietyGreenhouse, a prominent hiring platform, recently released its 2024 State of Job Hunting report, shedding light...