Overview of the stock markets
Today saw a cautious trend for the stock markets both in Europe and on Wall Street. At Piazza Affari, the Ftse Mib closed down 0.4%, to 34,540 points. Among the most affected stocks, Leonardo recorded a decrease of 2.5%, followed by Amplifon and Stm, which saw a decline of 2.7% and 3.1% respectively.
On the contrary, Diasorin and Bper closed higher, with an increase of 0.9% and 1.3%.
Waiting for the US presidential elections
Investors are waiting for crucial events, including the US presidential elections, which will take place tomorrow. A close duel is expected between the Trump and Harris candidates, with the possibility of an uncertain outcome in the early stages. This climate of uncertainty is affecting investment decisions, making traders cautious
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The meetings of the central banks
In addition, the Federal Reserve will meet on Thursday, where a further 25-basis point interest rate cut is almost certain. The Bank of England is also waiting for a similar meeting, with forecasts of a reduction in the cost of money by 0.25%. These decisions could have a significant impact on global financial markets.
Trend of the Italian economy
In Italy, the manufacturing PMI showed a deterioration, falling to 46.9 points in October, highlighting a slowdown in economic activity. This figure is particularly worrying in an already fragile global growth context.
On the bond front, the Btp-Bund spread remained stable at around 127 basis points, with the Italian 10-year yield at 3.66%.
Commodities and currencies
As far as raw materials are concerned, Brent oil is trading at 74.7 dollars per barrel, after OPEC+ decided to postpone the removal of supply cuts. Tensions in the Middle East, in particular between Iran and Israel, continue to affect markets.
Gold remains essentially unchanged at 2,736 dollars an ounce, while in the currency market, the euro/dollar exchange rate is just below 1.09.
Future Perspectives
With the release of macroeconomic data, such as the US ISM services index scheduled for tomorrow, analysts remain vigilant. The decrease in factory orders in the United States, which marked a decline of 0.5%, confirms forecasts of an economic slowdown. In this context, investors will need to closely monitor political and economic developments, which could influence their investment strategies
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