Financial News

Gasoline inventories decreased by 2.7 million barrels from the previous week.

U.S. Q3 GDP grew 2.8%, missing the 3.1% forecast as consumer spending slowed. Rising imports and weak housing investment also dampened growth.

October’s ADP report surprises with 233,000 private jobs added, driven by health, trade, and hospitality sectors—beating forecasts by over 100,000.

Stronger Eurozone Growth Fuels ECB Rate Speculation; Germany Rebounds in Q3.

Alphabet leads in earnings, beating forecasts with cloud growth. Snap, AMD, and Reddit show mixed results as tech stocks prepare for short-term gains.

CB Consumer Confidence increased to 108.7, beating analyst estimates.

U.S. home prices rose 4.2% YoY in August, while 20 major cities saw a 5.2% gain. High mortgage rates continue to dampen demand and growth.

Pfizer Q3 earnings beat expectations, driven by Paxlovid sales. Cost-saving goals aim for $4B by 2027 as Covid demand slows. Investor concerns rise.

German consumer confidence rises in November, hitting highs since April 2022, yet recession fears weigh on economic sentiment.

The report showed that production index moved back into the positive territory amid rising factory activity.

Long-run inflation expectations declined from 3.1% to 3.0%.

U.S. Durable Goods Orders fell 0.8% in September, defying forecasts for a deeper drop and signaling resilience in the manufacturing sector.

The German Ifo Index beats forecasts, signaling optimism in business sentiment, but challenges remain for the Eurozone’s broader recovery.

Natural gas prices pulled back as traders reacted to the bearish report.

Greece’s favourable credit trajectory is underscored by falling public debt, more resilient banks, and structural reforms. Scope Ratings’ baseline is for primary budget surpluses to be sustained in coming years.

U.S. jobless claims fall unexpectedly to 227,000, signaling labor market resilience, but rising unemployment benefits hint at economic cooling.

Southwest, American Airlines, UPS, and Honeywell post mixed Q3 results, with Southwest and UPS beating earnings, while Honeywell misses revenue targets.

Eurozone Services PMI fuels bets on a smaller ECB rate cut as services inflation persists despite weaker demand.

Tesla’s profit surge and IBM’s AI push drive tech growth, while Mattel struggles with weak toy demand ahead of the holidays. Read our full earnings breakdown.

Gasoline inventories increased by 0.9 million barrels from the previous week.