28/10/2024 Evening Reports
Brent crude dropped below $72 a barrel and West Texas Intermediate neared $68 after Israeli strikes on Iranian military targets, avoiding oil facilities and raising hopes for reduced tensions. Iran stated its oil operations remain normal, but warned of a proportional response to attacks. Despite earlier price spikes above $80 due to conflict, current prices are nearly $20 lower, influenced by weak Chinese demand and oversupply concerns.
Open A Live Account
CDO has wide range of tools, professional and friendly support for clients to achieve their financial markets trading goals. Open a live account now to enjoy this experience with virtual deposit.
Big Earnings, Oil Drama, and Election Jitters: The Market’s Most Anticipated Week Begins!
US Futures Soar, Oil Tanks: With Middle East tensions easing, oil prices plummet over 6%, fueling optimism as markets open on a high. Airlines are rallying, while energy stocks take a hit.
Magnificent Seven’s Earnings: Big Tech giants like Apple, Microsoft, and Google are set to reveal earnings, potentially delivering a massive boost to the S&P 500. Anticipation is electric as tech behemoths take the stage!
Election Buzz Builds: With the U.S. election just days away, markets are starting to price in a potential Trump win, sparking chatter of a “Trump Rally” that could shake things up across Wall Street.
CDO TRADER
CDO TRADER, our cutting-edge trading platform, follows the technology from the forefront with new features added continuously. Moreover, CDO TRADER is now available for Android and iOS! So it allows you to trade on the go!
Economic Data on Deck: The week is packed with critical reports, including Eurozone and U.S. GDP data and the monthly payrolls report on Friday. These numbers could mean sharp market swings as investors watch for clues on global economic health.
Treasury Market’s Make-or-Break Moment: The Treasury’s upcoming debt sale announcement is a must-watch for bond traders, with 10-year yields already pushing higher.
Global Currency & Market Moves: In Japan, a weaker yen following political drama lifted the Topix index, while in Europe, stocks are seeing mixed moves ahead of key economic policy decisions.
This is shaping up to be a week for the books – buckle up as markets prepare for major action!
Relief in Markets as Israel’s Retaliatory Strikes Leave Oil Facilities Unscathed; Tech Earnings and US Economic Data on Deck
Market sentiment improved after Israel’s retaliatory strikes on Iran avoided oil infrastructure, calming fears of an energy crisis. This led to a significant drop in oil prices, with crude tumbling over 6%. Key US stock futures rose, and airlines, sensitive to fuel costs, saw gains, while energy stocks declined.
Meanwhile, investors await a crucial week of corporate earnings from top US tech companies, critical economic data, and an update from the Treasury on debt sales. This confluence of events is expected to provide insight into both economic resilience and market direction ahead of the upcoming US election, where a Trump victory is perceived as potentially favorable for equities.
