On Thursday local time, data released by the U.S. Department of Labor showed that the year-on-year and month-on-month increases in the U.S. Consumer Price Index (CPI) for September were both higher than economists' expectations. The core CPI for September, which excludes food and energy prices, also slightly exceeded expectations for both year-on-year and month-on-month increases. The data indicate that there is resilience and upward risk in U.S. inflation in the short term. After the data was released, a Federal Reserve official expressed openness to pausing interest rate cuts in November. Influenced by the CPI data and the possibility of the Federal Reserve slowing down the pace of rate cuts, market trading was cautious, and the three major U.S. stock indices closed lower on Thursday. By the close, the Dow Jones Industrial Average fell by 0.14%, the S&P 500 Index fell by 0.21%, and the Nasdaq Composite Index fell slightly by 0.05%. Most of the eleven sectors of the S&P 500 Index closed lower on Thursday, with the real estate sector and the communication services sector leading the decline.
The German economy will be in recession for two consecutive years.
On the 10th, the three major European stock indices closed lower collectively.
The German federal government released its autumn economic forecast report on Thursday, downgrading Germany's economic growth forecast for 2024 to a contraction of 0.2%. This means that the "economic locomotive" of the eurozone, Germany, will fall into recession for the second consecutive year, making investors remain vigilant about the economic prospects of the eurozone. The three major European stock indices closed lower on Thursday. By the close, the UK stock market fell by 0.07%, the French stock market fell by 0.24%, and the German stock market fell by 0.23%.
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On the 10th, international oil prices rose significantly.
The latest statement from Israel stated that it would launch a "lethal, precise" strike against Iran, reigniting investors' concerns about tensions in the Middle East. At the same time, Hurricane "Milton" made landfall in Florida, causing a large number of gas stations in the area to run out of supply and nearly 3 million households to lose power. The resettlement of disaster victims and post-disaster reconstruction in Florida will bring a significant demand for basic energy consumption, and the recovery of offshore oil and gas production in the Gulf of Mexico still requires time. These factors drove international oil prices to rise significantly on Thursday. By the close, the price of light crude oil futures for delivery in November at the New York Mercantile Exchange closed at $75.85 per barrel, up 3.56%; the price of Brent crude oil futures for delivery in December closed at $79.40 per barrel, up 3.68%.
On the 10th, international gold prices rose.
Tensions in the Middle East have led to a surge in investors' risk-aversion sentiment, and some central banks continue to increase their holdings of gold, driving international gold prices higher on Thursday. By the close, the December gold futures price at the New York Mercantile Exchange closed at $2,639.3 per ounce, up 0.51%.