OPEC+ continues to increase crude oil supply to markets this week, with markets worried about global crude supply surpluses. International oil prices fell sharply.
International oil prices dropped significantly this week US oil cumulative dropped more than 3%
In terms of commodities, the ceasefire agreement between Israel and Hamas in the Gaza Strip came into effect, the Palestinian-Israeli conflict eased, the "geopolitical risk premium" subsided, and international oil prices continued the downward trend of the previous day. Coupled with the sudden deterioration of international trade tensions on Friday, International oil prices fell sharply this Friday as investors worried that high tariffs could ultimately drag down the economy and market demandAt the close, light crude oil futures for November delivery on the New York Mercantile Exchange fell 4.24%; London Brent crude oil futures for December delivery fell 3.82%. This week,"OPEC +" continued to increase crude oil supply to the market. The market was worried about a global crude oil supply surplus and international oil prices fell sharplyAmong them, U.S. oil fell by 3.25% and distribution oil fell by 2.79%.
On the 10th, the three major US stock indexes collectively fell, the Nasdaq fell more than 3%
On Friday, U.S. President Donald Trump threatened to significantly raise tariffs, raising investor concerns about worsening international trade tensions.In addition, the U.S. federal government shutdown has entered its tenth day, and some agencies have begun to cut jobs, while two-party negotiations in the U.S. Congress have not yet seen significant progress. Under the pressure of several factors, the market's risky sentiment rapidly warmed up, and the three major U.S. stock indices fell collectively.Among them, the Dow fell 1.90%; the S&P 500 fell 2.71%; and the Dow fell 3.56%, the index recorded its biggest drop since April 10. Affected by the deterioration of global trade relations, technology stocks were quickly sold off, with Nvidia's stock price falling nearly 5% and Tesla falling more than 5%。
This week, due to the continued "shutdown" of the U.S. government, the release of many U.S. economic data was suspended, and market transactions were cautious. The three major U.S. stock indexes fell collectively, with the Dow falling 2.73%, the S & P 500 index falling 2.43%, and the Nasdaq index falling 2.53%.
U.S. consumer confidence continues to be sluggish, market concerns about employment and inflation continue
Data released by the University of Michigan on Friday showed that the initial value of the U.S. consumer confidence index fell to 55 in October from 55.1 in September, hitting a five-month low. Data shows that U.S. consumers expect inflation to be 4.6 percent next year, slightly below the 4.7 percent forecast last month, but still at a high level.。 Long-term inflation expectations are stable at 3.7%, unchanged from September. According to the analysis, high prices and weak employment prospects are still the focus of American consumers' attention.
Three major European stocks all down.
On the European market side, European stock markets fell on Friday due to concerns about U.S. government tariff policies, with the UK’s Wealth 100 index falling 0.86 percent, the French CAC40 falling 1.53 percent, and the German DAX falling 1.50 percent.
International gold prices rose on the 10th. International gold prices rose by more than 2% this week
In terms of precious metal, Trade tensions triggered by tariffs have warmed investors, international gold prices rose on Friday, once again breaking the $4,000 per ounce threshold.As of the closing date, the New York Commodities Exchange gold price in December received $4,000.40 per ounce, up 0.70%. from the horizon, geopolitical risk, strong demand of central banks, U.S. interest rate cuts expectations and global economic uncertainty factors drive the international gold price to rise, and the New York Commodities Exchange gold futures mainstream contract price has increased by 2.34%.
Source: CCTV Finance