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came under pressure. The full reaction comes when Brazilian markets open later today.
Also in focus
โข Oil pulls back. Brent fell about 1.5โ2% from Friday's close near $116.72, to around $114โ115. Reports said Qatari mediators were in Tehran.
โข A packed week. Five central banks decide on rates, including the Fed on 27 โ 28 Oct. Markets expect the Fed to keep rates at 3.75โ4.00%. Microsoft, Alphabet, and Amazon also report earnings.
Brazil reacted first. Oil gave some relief. Central banks decide next.
Lula won Brazilโs runoff, and a U.S.-listed Brazil fund fell 15โ20% overnight
We sorted 24 hours of trader talk on X and kept what moved markets.
Vote result hits assets
Lula won 51.8% of the vote. He had lost the first round, and no modern Brazilian runoff had seen such a comeback. The fund is listed in the U.S., and overnight volume was low. The Brazilian real and Petrobras shares also (1/2)
@Simz_On_Top Our DMs are accessible, so please try sending us a message again. Your case has been escalated, and we'll keep you posted on developments via email.
Chip stocks lost 6.7% in one day. Brent closed near $113
We read the last 24 hours of trader talk on X and picked what moved markets.
Double pressure on markets
Meta raised its spending plans, and its free cash flow came under pressure. That revived questions about how much companies can keep spending on AI. The Nasdaq fell 2.6%, its worst day (1/2)
(2/2) since June. Oil rose 4% at the same time, after possible new U.S. and Israeli strikes on Iran, as well as attacks in Saudi Arabia.
Also in focus
โข Yields drop fast. The 10-year Treasury yield fell about 0.17โ0.19 percentage points. It was the biggest one-day drop in more than a year. The yen and the Swiss franc also rose.
โข Bitcoin falls with tech. Bitcoin lost around 3.5โ4%. It fell less than chip stocks, but more than the Nasdaq.
@IfeoluwaJon Hi! Sorry for the inconvenience. We see that you contacted us regarding a withdrawal issue. Your case has been escalated, and our team is working to resolve it as quickly as possible.
(2/2) gained after strong results from its software and infrastructure businesses. U.S. futures later turned lower.
Also in focus
โข AI costs keep growing. Big tech companies have signed long-term contracts for data centres, chips and energy. These costs will be paid over several years. Meta spent $34.91 billion on new equipment and infrastructure in the third quarter.
โข Gulf oil flows recover. Middle East oil exports rose above pre-war levels. However, the cost of shipping oil from the Gulf to Asia climbed above $37 per barrel.
Strong earnings helped tech stocks. But companies still need to fund their AI plans. The Federal Reserve meets on 27โ28 October, bringing interest rates back into focus.
Strong results, high costs
The Nasdaq Composite rose 1.05% to 26,702.86. Strong results from AI-related companies, including SpaceX and Super Micro, supported tech stocks.
After the market closed, Meta rose as much as 5% after reporting better-than-expected revenue. IBM also (1/2)
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@IfeoluwaJon Weโre really sorry to have kept you waiting and understand how frustrating it must be. Weโve followed up with our team and will let you know as soon as we hear back.๐
@IfeoluwaJon Weโre really sorry to have kept you waiting and understand how frustrating it must be. Weโve followed up with our team and will let you know as soon as we hear back.๐