Image Source: Unsplash
 

By the end of Friday, the Dow Jones Index (US30) rose by 0.09% (for the week +0.32%). The S&P 500 Index (US500) gained 0.26% (for the week, 0.08%). The Technology Index Nasdaq (US100) closed higher by 0.48% (for the week +0.61%). AMZN shares jumped over 10% after reporting that third-quarter cloud revenue increased by 20% and exceeded analyst expectations. This supported the entire technology sector. Positive momentum was also observed in companies related to the development of artificial intelligence: Palantir and Oracle shares added 3% and 2.8%, respectively. Netflix rose by 2.9% on news of a planned 10-for-1 stock split, while Tesla gained 3.1%.

The Canadian dollar fell below the 1.40 per USD mark following the release of a surprisingly weak GDP report, which fueled market expectations of a potential rate cut by the Bank of Canada. Canada’s GDP in September is expected to have grown by 0.1% month-over-month, while the August figure was revised down to 0.3%, the largest drop since December 2022. The weak data reflects the consequences of trade frictions with the US and the negative impact of higher Bank of Canada rates.

European stock markets mostly declined on Friday. Germany’s DAX (DE40) fell by 0.67% (for the week -1.54%), France’s CAC 40 (FR40) closed lower by 0.44% (for the week -1.41%), Spain’s IBEX 35 (ES35) dropped by 0.05% (for the week +0.72%), and the UK’s FTSE 100 (UK100) closed negative 0.44% (for the week +0.74%). Investors were taking profits and evaluating a busy week during which markets processed a significant volume of corporate earnings, macro statistics, and central bank decisions. The situation surrounding the one-year technology and trade truce between the US and China remained an additional factor of uncertainty. Focus also remained on the upcoming Bank of England meeting. A broad consensus suggests keeping the rate unchanged, but expectations of possible policy easing are already beginning to intensify.

Eight key OPEC+ participants are likely to approve another increase in the collective target oil production level by 137 thousand barrels per day. This would be the ninth consecutive monthly increase for Saudi Arabia, Iraq, Kuwait, Russia, UAE, Algeria, Oman, and Kazakhstan. The meeting takes place against the backdrop of recently imposed US sanctions against Russian oil companies Rosneft and Lukoil, creating uncertainty about Russia’s ability to maintain current production and export volumes. The group emphasized that it will approach the monthly production increase flexibly, adjusting it according to market conditions.

The US natural gas prices (XNG/USD) rose above $4.1 per MMBtu, reaching a seven-month high, amid a combination of increased demand for heating and projections of active LNG exports to Europe and Asia. Expectations of colder weather leading into the winter season have boosted gas consumption for heating.
Asian markets traded without a unified direction last week. Japan’s Nikkei 225 (JP225) rose by 5.02%, China’s FTSE China A50 (CHA50) fell by 1.59%, Hong Kong’s Hang Seng (HK50) dropped by 1.03%, and Australia’s ASX 200 (AU200) showed a negative result of 1.94%.

On Monday, the offshore yuan held near 7.12 per USD after two consecutive days of weakening. The private manufacturing PMI for October declined more than expected, continuing the negative trend confirmed by official statistics last week, which indicated that the industry’s downturn was the longest in nine years. Weak macro statistics once again amplified expectations of additional government support. On the trade front, China agreed to suspend new export control measures on rare earth metals and cease investigations into US semiconductor manufacturers. In response, the US will suspend a range of tariffs and forgo the planned 100% duty tax on Chinese exports.

• S&P 500 (US500) 6,840.20 +17.86 (+0.26%)
• Dow Jones (US30) 47,562.87 +40.75 (+0.09%)
• DAX (DE40) 23,958.30 −160.59 (−0.67%)
• FTSE 100 (UK100) 9,717.25 −42.81 (−0.44%)
• USD Index 99.72 +0.19% (+0.19%)
   

News feed for: 2025.11.03

• Australia Manufacturing PMI (m/m) at 00:00 (GMT+2);
• Switzerland Consumer Price Index at 09:30 (GMT+2);
• German Manufacturing PMI (m/m) at 10:55 (GMT+2);
• Eurozone Manufacturing PMI (m/m) at 11:00 (GMT+2);
• UK Manufacturing PMI (m/m) at 11:30 (GMT+2);
• Canada Manufacturing PMI (m/m) at 16:30 (GMT+2);
• US ISM Manufacturing PMI (m/m) at 17:00 (GMT+2);
• Canada BoC Gov Macklem Speaks (m/m) at 20:30 (GMT+2).

More By This Author:

WTI Oil Prices Fell Below $60 A Barrel Again
Fed And Bank Of Canada Cut Rates
The Australian Dollar Strengthened, Reaching A Three-Week High