Stock Market

Gold Futures for December delivery was up 0.28% or 7.70 to $2,737.70 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in December rose 1.88% or 1.29 to hit $69.98 a barrel, while the December Brent oil contract rose 1.56% or 1.14 to trade at $74.20 a barrel.

The world’s largest alternative asset manager posted adjusted earnings per share of $1.01, exceeding the consensus estimate of $0.98. Revenue came in at $3.66 billion, significantly above analysts’ projections of $2.68 billion.

Morgan Stanley highlights that Tech Hardware, Telecom, and Food Retail are likely to outperform due to low accruals, which the analysts note is “a leading indicator of future earnings.”

Crude oil for November delivery was down 4.25% or 3.14 to $70.69 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December fell 4.14% or 3.21 to hit $74.25 a barrel, while the December Gold Futures contract rose 0.22% or 5.90 to trade at $2,671.50 a troy ounce.

Gold Futures for December delivery was down 0.44% or 11.70 to $2,664.60 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in November fell 2.47% or 1.87 to hit $73.69 a barrel, while the December Brent oil contract fell 2.34% or 1.85 to trade at $77.19 a barrel.

Bank results offer an important view into the economy, including the strength of demand for loans. Investors will also be on the lookout for signs of whether the Fed’s large rate cut last month is already influencing the economy through rising auto sales or the purchase of other big-ticket items.

U.S. stocks slipped lower Wednesday, handing back some of the previous session’s gains, ahead of more signals on interest rates from the Federal Reserve. 

 European stocks slipped on Monday as the initial euphoria over strong U.S. jobs data last week faded and rate-sensitive sectors such as real estate and utilities came under pressure from higher bond yields.

Crude oil for November delivery was up 1.53% or 1.07 to $71.17 a barrel. Elsewhere in commodities trading, Brent oil for delivery in December rose 1.35% or 1.00 to hit $74.90 a barrel, while the December Gold Futures contract rose 0.21% or 5.50 to trade at $2,675.20 a troy ounce.

Inflation is also easing in France, Italy and Spain, suggesting that the risk to the eurozone forecast of 1.8% growth annually in September is to the downside, even though this would still be below the ECB’s 2.0% medium-term target.