On the Global Front
This week, new records were recorded on Wall Street. This time it was the Dow Jones Industrial Average which broke the 23,000 points mark. Oil continued the upward trend that began in recent weeks, mainly due to two reasons: The first is the appeal made last week to the oil shale producers to adjust its prices with OPEC countries. The trend has also continued upwards due to the sharp decline in Crude Oil inventories. Are that relatively When looking at inflation, Oil prices must be taken under consideration. The expectations for the next upcoming months are for indices to climb higher and therefore, bringing annual inflation closer to the target of price stability.
Published its financial statements, in the framework of which it lowered its profit forecasts. Snap ($15.25, -3.17%) One of Wall Street’s most disappointing companies since its IPO, will also report today. Apple ($155.98, -2.37%) Fell on the back of market concerns about low demand for newly launched iPhone 8 and iPhone 8 devices. The technology giant from Cupertino will launch its new flagship device, the iPhone X, on November 3, in a move that may trigger positive sentiment in the recent stock.
Swiss pharmaceutical giant Roche ($239.10, + 0.21%)
Reported a significant increase in revenues in the first nine months of the year, and approved the forecasts for the entire year. German software giant SAP ($96.33, + 0.76%) Has raised its forecasts for all of 2017, while its third-quarter revenue rose to € 5.59 billion.
- Numbers for the weekly unemployment claims in the U.S. stood at 222,000 last week, better than the expected 240,000 new claims.
- In China, the second largest economy in the world, have 2 important pieces of data.
In the third quarter of the year, China’s GDP grew at an annualized rate of 6.8%, in line with expectations, and slightly below 6.9% during the second quarter.
Industrial output in September increased by 6.6% compared to September 2016, above expectations of an increase of 6.2%. Retail sales in the past month also exceeded expectations – an increase of 10.3%.
- In Japan, trade figures were released below earlier forecasts. Exports from the country rose by 14.1% in September from a year ago, below expectations of a rise of 14.9%. Imports to Japan rose 12%, well below forecasts of a 15% increase.
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