Major stock markets were mostly lower on Wednesday after mixed economic data and company reports, while Bitcoin traded near record highs in anticipation of the upcoming U.S. presidential election.
The three major US stock indexes fell slightly after the rally, but major European markets fell even more sharply in mid-afternoon trading.
“Investors are not looking to increase their exposure to equity markets given the lack of a clear lead from the US, where consolidation is mainstream today,” said Trade Nation analyst David Morrison. No,” he said.
Google's parent company Alphabet reported strong earnings after Tuesday's close, rising nearly six shares, but that was offset by negative earnings from tech company AMD, which fell nearly 9%, and pharmaceutical company Eli Lilly, which fell more than 13%. exceeded.
Microsoft and Facebook parent company Meta will report later Wednesday.
On the economic front, the U.S. economy grew at a healthy 2.8% annual rate in the third quarter, albeit below analysts' expectations and slowing slightly from the previous quarter.
The Federal Reserve's most preferred measure of inflation will be released on Thursday, followed by the monthly labor and employment report on Friday.
The eurozone economy grew by a better-than-expected 0.4% in the third quarter, the euro zone said on Wednesday. However, City Index analyst Fawad Razaqzada said the growth spike could have been the result of temporary factors, such as the Olympics, and the next quarter's report may not be as rosy. He said that there is.
“Recent forward-looking surveys are not great and suggest that the eurozone economy remains weak at the start of the fourth quarter,” he said.
Outside the euro zone, London's stock market fell, although not as much as in Paris or Frankfurt, after Britain's New Labor government announced a £40 billion tax increase and a reduction in next year's budget deficit.
Asia's top indexes ended mostly lower, while the dollar was mixed against major rival markets in foreign exchange.
Bitcoin stabilized a day after coming just shy of the all-time high of $73,797.98 reached in March.
The recent surge in Bitcoin prices is seen as a bet that the Republican Party will win next week's U.S. vote, with Donald Trump emerging as a pro-crypto candidate.
However, the outcome of the poll remains uncertain for many analysts, which pushed the price of investment gold to a new all-time high of $2,789.86 an ounce on Wednesday.
Oil prices rebounded as volatility dominated oil trading amid the twists and turns of the Middle East crisis and worries about whether there will be buyers for production increases expected next year.
“Oil prices appear to be ignoring improving U.S. economic data and China's stimulus efforts to revive its struggling economy,” said Daniela Sabin Hathorn, senior market analyst at Capital.com. said.
– Main figures around 1345 GMT –
New York – Dow: 42,219.45 points, down less than 0.1%
New York – S&P 500: down 0.2% to 5,823.89
New York-Nasdaq Composite: down 0.2% to 18,871.59
London – FTSE 100: down 0.4% to 8,186.78
Paris – CAC 40: down 1.4% to 7,404.89
Frankfurt – DAX: 1.2 down to 19,254.09
Tokyo – Nikkei Stock Average: 1.0% higher at 39,277.39 (closing price)
Hong Kong Hang Seng Index: 1.6% lower at 20,380.64 (closing price)
Shanghai – Overall: down 0.6% to 3,266.24 (close price)
EUR/USD: up to $1.0830 from $1.0816 on Tuesday
GBP/USD: down from $1.3010 to $1.2971
Dollar/JPY: fell from 153.57 yen to 153.10 yen
EUR/GBP: up from 83.13p to 83.51p
Brent crude: up 1.5% to $72.15 per barrel
West Texas Intermediate: up 1.4% to $68.15 per barrel
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