Hello, our dear traders! Are you ready for Friday? Let’s see what news you need to know for today!💫
📈US stocks hit the lowest since November 2020 on Thursday. The S&P 500 (US500) lost 2%, the Nasdaq 100 tech index (US100) fell nearly 4% during the session. The index was lowered by Apple Inc. stocks, which fell 6.1% after analysts at Bank of America warned of lower consumer demand for their popular devices.
✔️Nike shares tumbled 12% in post-trade after reporting a 375 bp profit loss for the quarter.
🇺🇸US unemployment claims were at their lowest level in recent memory. This means that the Fed will continue to tighten its policy – and central bank officials confirmed this prospect by making more hawkish comments. Meanwhile, Hurricane Ian, which hit Florida, could cost the US economy between $20 billion and $70 billion.
🇪🇺🇷🇺The European Commission announced the eighth round of sanctions, including a price cap on Russian oil exports. Russia vowed to continue annexing parts of Ukraine now controlled by its forces following UN-denounced votes, setting the Kremlin on a new course of clashing with the US and its allies.
🇩🇪Inflation in Germany hit double digits for the first time since World War II. September CPI accelerated to 10% from 7.9% in August.
☢️Bitcoin surged and stayed above $19,000 after hovering around this resistance level all week. Ether fell while XRP led gains across the top 10 cryptocurrencies by market cap.
Have a great day!✨
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