Tag Archives: Trading News

Unexpected Increase in U.S. Crude Oil

Unexpected Increase in U.S. Crude Oil, Gasoline, and Diesel Inventories

Data from the U.S. Energy Information Administration showed that U.S. crude oil inventories increased
by 2.1 million barrels in the week ending on November 1, defying analysts’ expectations of stable inventories.

 

 

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Oil 

Gasoline inventories rose by 400,000 barrels, contrary to expectations of a 900,000-barrel decrease.
Additionally, distillate inventories, including diesel and heating oil,
increased by about 2.9 million barrels, surpassing expectations of a 300,000-barrel rise.

 

 

 

Arm Holdings 

“Arm Holdings” exceeded expectations in the second quarter and announced a partnership with Meta to develop AI applications. The British chipmaker Arm Holdings returned to profitability in the second quarter of fiscal year 2025, announcing the shipment of more than 300 billion chips since 1990. The company also confirmed its new partnership with Meta to develop a new generation of AI applications. Arm reported profits of $107 million, or 10 cents per share, in the three months ending September 30, compared to a loss of $110 million, or 11 cents per share, in the same period last year. Adjusted earnings per share reached 30 cents, surpassing analysts’ expectations of 26 cents, while revenues rose by 5% to $844 million, beating expectations of $810 million. Despite this positive performance, Arm’s depositary receipts listed on the Nasdaq under the ticker “ARM” fell by 5% after closing Wednesday’s trading with a 2.85% increase to $144.68.

 

 

 

 

Interest Rates 

Mortgage interest rates rise in the U.S. as markets assess Trump’s win and his pledges to reduce housing costs. Long-term mortgage interest rates in the U.S. increased during Wednesday’s trading as markets reacted to Republican candidate Donald Trump’s victory in the presidential election. The 30-year mortgage rate rose by 9 basis points to 7.13%, according to data from “Mortgage News Daily.” Investors are evaluating the potential effects of Trump’s financial policies, especially after he promised during his campaign to reduce housing costs, including mortgage rates. In a previous rally in Arizona, Trump stated his intention to lower mortgage rates to 2%, aiming to support homebuyers and enable them to refinance their loans.

 

 

Unexpected Increase in U.S. Crude Oil, Gasoline, and Diesel Inventories

Trump Wins Presidential Election and Returns

Trump Wins Presidential Election and Returns to the White House Amid Republican Momentum and Market Rally

Donald Trump, 78 years old, has won the U.S. presidential election, becoming the 47th president, defeating Kamala Harris and returning to the White House with broad support from his Republican Party. Trump surpassed the 270 electoral votes threshold and garnered over 71 million votes in the popular vote.

 

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Trump

 

 

 

 

Trump

He preempted the results by declaring his victory in a speech to his supporters,
and many world leaders congratulated him on his “historic” win.
Meanwhile, Republicans secured a majority in the Senate and remain ahead in the House of Representatives race,
strengthening support for Trump’s plans and policies, especially on issues like immigration and tariffs.

The U.S. markets are heading toward strong performance, with futures contracts pointing to record levels for stocks driven by optimism over Trump’s victory.
The U.S. dollar also posted its largest daily gains in eight years, with the dollar index rising by 1.83% to 105.373 points.
Other currencies, including the Swiss franc, euro, and British pound, fell against the dollar.

Despite this, the markets await the Federal Reserve’s decision on a potential 25 basis point interest rate cut,
which will be announced at the conclusion of its meeting continuing through Thursday.

 

 

Trump Wins Presidential Election and Returns to the White House

 

Trump Declares Victory in Presidential Election

Trump Declares Victory in Presidential Election, Calling It the Greatest Political Movement in American History

Republican candidate Donald Trump declared his victory in the 2024 U.S. presidential election on Wednesday, describing it as the “greatest political movement ever” and stating that he has “made history” with this win. Trump expressed his gratitude to his supporters and thanked them for helping him secure a second term as President of the United States. This announcement came after he took the lead in critical states such as Pennsylvania, North Carolina, and Wisconsin.

 

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Trump
Gold

 

 

 

 

Trump

Trump Media Group Stock Soars 41% After Trump Announces Election Victory and Receives Congratulations from European Leaders
The stock of “Trump Media & Technology Group” surged by 41.28%, reaching $47.95 during pre-market trading on Wednesday following Republican candidate Donald Trump’s announcement of his victory in the U.S. presidential election and his receipt of congratulations from several European leaders.
The stock, associated with the media industry, is seen as an indicator of market expectations regarding Trump’s chances of defeating his Democratic rival, Kamala Harris. Although the vote count has not been officially completed, early results suggest Trump has gained enough votes to become the 47th president of the United States.
This increase follows a 1.16% decline in the stock on Tuesday, closing at $33.94, impacted by voting-related volatility and the group’s announcement of a $19.2 million loss in the third quarter and a 5.6% drop in revenue to $1.01 million.

 

 

 

 

Gold

Gold Prices Plummet as Dollar Rises After Preliminary Results of Trump’s Presidential Victory
It prices saw sharp declines in early Wednesday trading following the announcement of Republican candidate Donald Trump’s win in the U.S. presidency, according to preliminary results. Fox News reported that Trump won Pennsylvania and Wisconsin, boosting his chances of becoming the 47th president of the United States, with Republicans potentially controlling both the House and Senate.
The preliminary results drove the U.S. dollar to its highest level since July, reaching 105.013 points, up by 1.53%. This surge in the dollar decreased demand for dollar-priced commodities, leading to a drop in gold prices. Spot gold prices fell by about 0.64% to $2,726.06 per ounce, while gold futures dropped by 0.51% to $2,735.55 per ounce.

 

 

Trump Declares Victory in Presidential Election

China’s Services Sector Growth Accelerates

China’s Services Sector Growth Accelerates in October According to Caixin PMI

Data released by S&P Global on Tuesday showed that the Caixin Services PMI for China rose to 52.0 points in October, marking its highest level since July. This reading came in above expectations of 50.5 points and higher than September’s reading of 50.3 points.

 

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Australia
Britain

 

 

 

 

 

Australia

Reserve Bank of Australia Keeps Interest Rates Unchanged Despite Inflationary Pressures

The Reserve Bank of Australia decided in its meeting on Tuesday, November 5, 2024, to keep the main interest rate unchanged at 4.35%, the highest level in 13 years. This decision comes amid persistent high inflation and uncertainty in global economic outlooks. The bank stated that “core inflation remains very high” and that “it will take a considerable amount of time before inflation returns to the target range.” The bank also stressed the need to remain vigilant regarding upward inflation risks, indicating that future monetary policy decisions have not been ruled out.

 

 

 

Britain

Decline in New Car Registrations in the UK Despite Rise in Electric Vehicle Sales Supported by Government Incentives

The United Kingdom saw a decline in new car registrations for the second time this year, falling by 6% in October to 144,288 units, according to data from the Society of Motor Manufacturers and Traders (SMMT). However, electric vehicle sales surged by 24.5%, supported by the availability of new models. Approximately 300,000 new electric cars hit British roads this year, representing 18.1% of the total market, up from last year but still short of the 22% target.

 

 

China’s Services Sector Growth Accelerates in October

 

BYD Achieves Record Growth in Production and Revenue

BYD Achieves Record Growth in Production and Revenue, Surpasses Tesla in Quarterly Earnings.
Berkshire Hathaway Continues to Reduce Its Stake in Apple Amid Record Cash Reserves.
Volvo Sales Surge in October, Driven by Strong Demand for Electric and Hybrid Cars in Europe.

 

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BYD

BYD achieves record growth in production and revenue, surpassing Tesla in quarterly earnings.
Chinese electric vehicle (EV) giant BYD announced a significant expansion in its production and hiring between August and October 2024. The company added around 200,000 units to its production during this period and hired approximately 200,000 new employees in areas related to car manufacturing and components. This expansion reflects the company’s strong growth, with an 11.5% increase in net profit for the third quarter.
BYD’s revenue also surged 24% year-over-year between July and September, reaching 201.1 billion yuan (approximately $28.24 billion). For the first time, BYD’s quarterly earnings exceeded Tesla’s since BYD ceased producing gasoline-powered cars in 2022, further strengthening its competitive position in the EV market.

 

 

 

 

 

 

 

Berkshire Hathaway

It continues to reduce its stake in Apple amid record cash reserves.
Berkshire Hathaway has continued to reduce its stake in Apple during the third quarter of this year,
despite Apple’s stock rising by 10.6% during that period.
The investment group cut its stake in Apple by 25%, following a previous reduction of about half in the second quarter.
CEO Warren Buffett did not provide specific insights regarding Apple at the company’s most recent annual shareholders meeting.
According to its financial report released on Saturday, Berkshire’s current stake in Apple is valued at around $69.9 billion,
compared to $174.3 billion at the end of last year, a decrease of nearly 60%.
Buffett, often referred to as the “Oracle of Omaha,” mentioned during the company’s May annual meeting that some of the Apple stock sales during the first quarter were tax-driven, while affirming that Apple remains the group’s largest investment.
Meanwhile, Berkshire hit a record high in cash reserves, with $352.2 billion by the end of the third quarter, the highest in its history. Buffett noted that the company is not in a rush to spend this cash unless it finds a low-risk, high-return investment opportunity.
Berkshire also net sold $34.6 billion worth of stocks during the period, bringing its total net sales for the year to $127.4 billion. However, its operating earnings fell by about 6% compared to last year, recording $10.1 billion.

 

 

 

 

 

 

Volvo

It sales surge in October, driven by strong demand for electric and hybrid cars in Europe.
Volvo Cars announced a 3% increase in sales for October 2024 compared to the same month last year, with total sales of 61,680 vehicles.
The company, primarily owned by China’s Geely, attributed this growth to a rise in demand for electric and hybrid cars in Europe,
where sales jumped by 21% to 30,167 vehicles.
In contrast, sales in the United States and China dropped by 17% and 10%, respectively.
Globally, Volvo noted that sales of electric and hybrid vehicles rose by 40%, accounting for 48% of its total sales in October.

 

 

BYD Achieves Record Growth in Production and Revenue

Slowing U.S. Job Growth in October

Slowing U.S. Job Growth in October with Stable Unemployment Rate

The U.S. labor market data for October revealed mixed employment indicators,
with the economy adding only 12,000 new jobs, significantly below the expectations of 113,000.

 

 

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Jobs: 

The September report initially showed 254,000 jobs added, but this was revised down to 223,000.
The unemployment rate remained steady at 4.1% in October, aligning with market expectations and the previous reading for September.
On the wage front, the average hourly wage increased by 0.4% on a monthly basis, surpassing the expected 0.3%, while wages grew 4.0% annually, in line with forecasts.

 

 

 

Boeing: 

Boeing raises $23.5 billion in a massive deal that brings substantial profits for banks ahead of the U.S. elections.
The $20 billion capital increase carried out by Boeing delivered significant gains to four major banks—Goldman Sachs, Bank of America, Citigroup, and JPMorgan Chase—with each bank expected to earn up to $75 million for their roles as joint lead arrangers in the deal, according to Boeing’s filings with the U.S. Securities and Exchange Commission.

This week, Boeing raised approximately $23.5 billion through one of the largest equity sales ever made by a public company, aiming to strengthen its balance sheet and avoid a potential downgrade to junk credit status. The capital raise included the sale of nearly $18.5 billion in common stock, along with $5 billion in depositary shares representing stakes in mandatory convertible preferred stock.

 

 

 

Slowing U.S. Job Growth in October with Stable Unemployment Rate

Annual Inflation in the Eurozone Reaches 2.0% in October

Annual Inflation in the Eurozone Reaches 2.0% in October, Exceeding Expectations

Data released by the European Statistics Office on Thursday revealed
that the annual inflation rate in the Eurozone rose higher
than market expectations for October.

 

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Inflation

According to the data, the annual inflation rate in the Eurozone increased to 2.0%, surpassing expectations of 1.9%.
The previous reading for September was 1.7%.
As for core inflation, which excludes food, energy, alcohol, and tobacco prices,
the preliminary reading for the annual consumer price index in October stood at 2.7%, exceeding the forecast of 2.6%.
This figure is the same as the core inflation rate in September, which also registered 2.7%.

 

 

 

 

 

 

China

Chinese Central Bank Injects $70 Billion to Boost Liquidity and Support the Economy
The Chinese central bank injected liquidity amounting to $70 billion into the financial markets this month through a new monetary policy tool. This move aims to ease liquidity pressures on the fragile economy and encourage banks to offer more loans.
The People’s Bank of China stated in a release on Thursday that it conducted reverse repurchase agreements worth 500 billion yuan in October to ensure sufficient liquidity in the banking system.
This is the first time this new tool has been used, which was unveiled earlier this week. It aims to support the economy in the face of challenges such as declining domestic demand and the ongoing real estate crisis.

 

 

 

 

 

Germany

Strong Recovery in German Retail Sales Surpasses September Expectations
Data from the German Federal Statistics Office (Destatis) on Thursday reported a significant recovery in German retail sales for September, surpassing market expectations. According to the data, retail sales rose by 3.8% year-on-year,
while the forecast anticipated a growth rate of just 1.6%, following a 2.1% increase in August.
The Federal Statistics Office also noted that retail sales increased by 1.2% on a monthly basis in September,
after a 1.6% rise in August, whereas expectations had predicted a 0.5% decline.

 

 

 

Annual Inflation in the Eurozone Reaches 2.0% in October, Exceeding Expectations

Asian Stocks Fall Amid Uncertainty Over U.S. Interest Rates

Asian Stocks Fall Amid Uncertainty Over U.S. Interest Rates

Asian stocks experienced a significant decline on Thursday, following a drop in U.S. equities and government bonds.
This decline was triggered by strong economic data, raising doubts about the Federal Reserve’s potential rate cuts in the near future.

 

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Markets

Elections

Oil

 

 

 

 

 

 

Markets

Performance of Asian Stock Markets

Stock indices in Japan, Australia, and South Korea all fell, leading to a regional index decline for the second consecutive day.
Meanwhile, Chinese stocks were volatile, while Hong Kong shares rose after a report showed the first monthly growth in Chinese manufacturing data since April.
Xiao Jiaqi, an economist at Crédit Agricole, stated in an interview with Bloomberg TV:
“There is still a need for further rate cuts to boost household consumption and encourage private investment.”

 

 

Decline in U.S. Stocks and Futures

In U.S. markets, futures fell following disappointing earnings forecasts from Microsoft,
along with a decline in Meta Platforms’ shares.
The S&P 500 index dropped by 0.3%, while the Nasdaq 100 fell 0.8% on Wednesday.

 

 

U.S. Rate Cut Bets

U.S. Treasury yields remained stable in Asian trading, while Australian and New Zealand bond yields rose.
On the other hand, the global bond index reached its lowest point in nearly three months.
The strong growth of the U.S. economy in the third quarter reduced expectations for monetary easing,
as data showed accelerated household purchases and government spending, pushing the core inflation rate up by 2.2%.

 

 

 

 

 

 

Elections

Impact of U.S. Elections

As the U.S. elections approach, some experts have expressed concerns about their effect on inflation.
Daniel Yu, head of asset allocation at Yuanta Securities,
noted that a potential victory for former President Donald Trump could shift investment trends.
He added that Trump’s proposed policies, including corporate tax hikes,
could increase inflationary pressures, delaying any rate cuts.

 

 

Currency Market Volatility

The Japanese yen remained stable against the U.S. dollar at 153 yen,
ahead of the Bank of Japan’s interest rate decision.
Meanwhile, the U.S. dollar volatility index reached its highest level since December 2022,
indicating market readiness for significant currency fluctuations.

 

 

 

 

Oil

Global Markets and Oil Prices

Oil prices rose slightly on Thursday, continuing gains from the previous session,
while gold prices stabilized at around $2,787 per ounce after hitting record highs.
These movements reflect investor caution ahead of the U.S. elections.

 

 

Post-Election Outlook

Barclays analysts suggested that investors are in a “wait and see” mode ahead of the elections,
with stock market inflows remaining steady throughout October despite lower trading volumes.
Despite expectations of a Trump victory, Citi Group strategists warned that markets could see a correction following the results,
given the positive sentiment that has driven the S&P 500 to six consecutive months of gains.

 

 

 

Asian Stocks Fall Amid Uncertainty Over U.S. Interest Rates

The Eurozone Economy Grows Better Than Expected

The Eurozone Economy Grows Better Than Expected, and the Euro May Recover Some Losses

Preliminary data for the third quarter of the year showed economic growth in the Eurozone surpassing expectations, driven by improved performance in the French and Spanish economies, and Germany’s return to growth after an unexpected contraction.

 

 

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The Euro

According to data released on Wednesday by the European Statistics Office, the Eurozone’s GDP grew by 0.9% year-on-year, accelerating from 0.6% and 0.5% during the second and first quarters, respectively.
On a quarterly basis, the region’s GDP rose by 0.4%, exceeding the expected growth of 0.2%. Spanish GDP recorded a 0.8% rise, while French GDP grew by 0.4%.

 

 

 

 

 

 

Germany

The German economy grew by 0.2% on a quarterly basis after a 0.3% contraction in the second quarter, defying expectations of another 0.1% contraction. However, separate data from the German Statistics Office showed that the German economy shrank by 0.2% year-on-year for the second consecutive time.
The office also reported that the number of unemployed people in Germany increased by 27,000 to reach 2.86 million in October, exceeding expectations of an increase of just 15,000.
This may reduce pressure on the European Central Bank in the coming period, as the bank had been aggressively cutting interest rates, negatively affecting the euro’s performance against a basket of currencies. Consequently, the euro is expected to recover some of its losses during the upcoming trading sessions.

 

 

 

The Eurozone Economy Grows Better Than Expected

 

U.S. Markets Rally as Elections and Tech Giants’ Earnings Approach

U.S. Markets Rally as Elections and Tech Giants’ Earnings Approach

The U.S. stock indices saw a significant rise at the beginning of a busy week filled with major tech companies’ earnings reports.
Traders are also preparing for the upcoming presidential elections and key economic data that will influence the Federal Reserve’s next decisions. Despite overall gains, energy sector stocks declined due to falling oil prices.

 

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S&P 500

S&P 500 Gains, Except for Energy Stocks

All major sectors in the S&P 500 index rose, except for the energy sector.
Crypto-related stocks also climbed, with Bitcoin gaining 3%.
Additionally, Trump Media & Technology Group saw its shares soar by 22% following a major event held
by former President Donald Trump in New York, which led individual traders to buy the stock.

 

 

 

Trump

Impact of Trump’s Potential Victory on Stocks and Bitcoin

According to a Bloomberg Markets poll, a Trump victory in the election would be more favorable for stocks and Bitcoin compared to his Democratic opponent. About 38% of respondents expect a market rally under Trump, while only 13% foresee the same under Kamala Harris.

 

Investors are also anticipating earnings from major tech companies such as Apple, Microsoft, and Meta.
The Federal Reserve’s upcoming meeting, which may involve an interest rate cut,
is also highly anticipated as the U.S. economy continues to show resilience, especially in the jobs sector.

 

 

 

 

Markets

Market Performance

U.S. stock indices rose, with the S&P 500 up by 0.3%, and the Dow Jones climbing 0.6%.
Meanwhile, bonds fell due to weak demand,
prompting the Treasury Department to lower its federal borrowing estimates.

 

 

Focus on Long-Term Goals

Experts emphasize the importance of focusing on long-term investment goals,
noting that while markets may fluctuate due to the elections,
they typically shift back to core economic fundamentals such as corporate earnings, inflation, and interest rate trends.

 

Conclusion

As U.S. markets brace for the upcoming elections and corporate earnings,
short-term volatility remains tied to political events.
However, markets will eventually refocus on underlying economic factors.

 

 

U.S. Markets Rally as Elections and Tech Giants’ Earnings Approach