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The UKs BRC shop price index rose 1% year-on-year in October, compared with 1.40% in the previous month.Market news: Nvidia CEO Jensen Huang will meet with Samsung and Hyundai executives on October 30.1. All three major U.S. stock indices closed higher, with the Dow Jones Industrial Average up 0.71%, the S&P 500 up 1.23%, and the Nasdaq up 1.86%. Nvidia rose nearly 3%, and Apple rose over 2%, leading the Dow. The Wind S7 Index rose 2.4%, with Tesla up over 4%, Google up over 3%, and Qualcomm up over 11%, reaching a new high since July 2024. Most Chinese concept stocks rose, with Daquan New Energy up over 14% and Xpeng Motors up over 6%. The temporary easing of international trade tensions boosted market confidence. This week, investors focused on the earnings reports of several tech giants and the Federal Reserves interest rate meeting. 2. All three major European stock indices closed slightly higher, with Germanys DAX up 0.28%, Frances CAC 40 up 0.16%, and the UKs FTSE 100 up 0.09%. The basic consensus reached in Sino-U.S. trade negotiations boosted market risk appetite. 3. U.S. Treasury yields fell across the board, with the 2-year Treasury yield down 0.64 basis points to 3.482%, the 3-year Treasury yield down 1.40 basis points to 3.480%, the 5-year Treasury yield down 1.92 basis points to 3.595%, the 10-year Treasury yield down 3.46 basis points to 3.976%, and the 30-year Treasury yield down 5.02 basis points to 4.549%. Market expectations of a Fed rate cut, coupled with a lack of economic data due to the government shutdown, have intensified safe-haven demand. 4. International precious metal futures generally closed lower, with COMEX gold futures down 3.40% to $3,997.00 per ounce and COMEX silver futures down 3.61% to $46.83 per ounce. Expectations of a Fed rate cut have intensified, but easing international political tensions have reduced safe-haven demand. The increasing U.S. government debt burden provides long-term support for gold. 5. The main contract of U.S. oil closed up 0.08% at $61.55 per barrel; the main contract of Brent crude oil fell 0.25% to $65.04 per barrel.On October 28th, Pony.ai announced on the Hong Kong Stock Exchange that it plans to issue 41,955,700 shares (subject to the exercise of the Offer Size Adjustment Option and the Over-allotment Option) for its Hong Kong listing. Unless otherwise announced, the offer price will not exceed HK$180 per share. Trading of the shares on the Hong Kong Stock Exchange is expected to begin on November 6th (the same date as competitor WeRide).According to Japans Asahi Shimbun: Japan and South Korea are coordinating arrangements to hold the first summit meeting between Japanese Prime Minister Sanae Takaichi and South Korean President Lee Jae-myung on October 30 during the APEC summit in South Korea.

Oil prices increase as U.S. crude stockpiles decline

Skylar Williams

Jul 27, 2022 10:57

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After industry statistics suggested a greater-than-anticipated reduction in U.S. crude stocks, oil prices surged in early Asian trade on Wednesday.


U.S. West Texas Intermediate (WTI) oil climbed 67 cents, or 0.7%, to $95.65 per barrel at 00:09 GMT.


Brent crude oil futures rose 33 cents, or 0.3%, to $104.73 a barrel.


Tuesday after market close, the American Petroleum Institute revealed that oil stocks in the United States declined by 4 million barrels last week.


Reuters surveyed analysts who projected a decline of 1 million barrels. This decline is four times as significant. [EIA/S]


In contrast to forecasts of a rise of 3.5 million barrels, gasoline inventories declined by 1.1 million barrels, according to statistics from the American Petroleum Institute (API).


The Energy Information Administration of the United States releases its weekly oil report every Wednesday evening.


Gazprom's (MCX:GAZ) announcement that it will limit flows via the Nord Stream 1 pipeline to Germany by one-fifth to one-fifth of capacity has increased expectations for a tighter European gas market beginning on Wednesday.


After negotiating agreements to limit reductions for certain states, European Union officials agreed on a weaker emergency plan to curb consumption on Tuesday.