Table of Contents:
The current context of European stock exchanges
European stock exchanges showed a negative trend during the day, closing near intraday lows. At Piazza Affari, the Ftse Mib closed trading with a decline of 0.3%, reaching 34,925 points. Among the stocks in decline, Stellantis stands out with a loss of 2.4%, Erg at -2.2% and Moncler at -1.85%.
On the contrary, some stocks performed positively, such as Tenaris (+ 1.7%), Stm (+ 1.6%) and Intesa Sanpaolo (+ 1.2%).
Macroeconomic data from the United States
In the United States, the macroeconomic data came in a context of light and dark. Job offers fell to the lowest from early 2021 to September, while consumer confidence reached its highs of 2024 in October. These economic indicators influence investor expectations and could have repercussions on the European market
.
Waiting for the big tech results
Market players are waiting for the quarterly reports of the big technology companies, with Alphabet presenting the results this evening, followed by Meta and Microsoft tomorrow, and Amazon and Apple on Thursday. These reports are expected with great interest, as they could affect not only the stock market, but also the global economic outlook
.
Situation of the bond and commodity markets
In the bond market, the Btp-Bund spread stands at 122 basis points, with the Italian 10-year period rising to 3.55% and the German benchmark at 2.33%. As far as raw materials are concerned, oil continues to lose ground, with Brent falling to 70.6 dollars per barrel, following the descalation in the Middle East. In contrast, gold rose to 2,768 dollars an ounce, reflecting growing demand in times of
economic uncertainty.
Bitcoin and currency trends
Bitcoin surpassed $71,000 for the first time since June, supported by inflows into ETFs and speculation surrounding next week’s US elections. In the currency market, the euro/dollar exchange rate stands at 1,081, while the dollar/yen is at 153.5 yen per dollar, after the Japanese governing coalition lost its majority in parliament. The Bank of Japan will meet on Thursday, and investors are looking forward to its decisions
.
