TREE NEWS reports: Silver futures in New York fell 3% intraday on Thursday, trading at $52.05 an ounce. The move marks a sharp single-session decline for the precious metal, with the intraday loss reaching the 3% threshold at the quoted price.
TREE NEWS update: European Central Bank President Christine Lagarde said fiscal responses must be temporary and targeted, adding that fiscal sustainability is critical for economic stability. She did not specify countries or measures in the remarks, which address the balance between short-term support and long-term fiscal health.
TREE NEWS reports: The secured overnight financing rate (SOFR) stood at 3.94% on Oct. 28, the day the Federal Reserve left rates unchanged, versus 3.95% the prior day. The effective federal funds rate was 3.88% on the same trading day, unchanged from the previous day.
TREE NEWS update: European Central Bank President Christine Lagarde said data indicate the eurozone economy continued to expand in the third quarter, with exports set to recover. A fresh surge in energy prices has hit consumer confidence, while underlying inflation remains broadly stable and wage pressures stay moderate, she said.
TREE NEWS update: European Central Bank President Christine Lagarde restated the content of the ECB’s governing council decision statement at a press conference, offering no new details beyond the published policy language. The remarks came during the central bank’s regular post-meeting briefing. No further figures or policy changes were disclosed in the statement.
TREE NEWS update: White House National Economic Council Director Kevin Hassett said inflation is broadly in line with expectations and GDP is on track for 4% growth. He added that a supply-side boom is putting downward pressure on prices. Hassett made the remarks in comments on the US economic outlook.
TREE NEWS reports: German government bonds extended their rally, pushing the 10-year Bund yield down 5 basis points to 3.32%. The move reflects continued demand for euro-area sovereign debt, with the benchmark yield extending its recent decline.
TREE NEWS reports: Alphabet shares fell 13% on Monday, putting the company on course to lose nearly $490 billion in market value. The drop marks one of the largest single-day declines in value for the Google parent, though the material did not specify a cause for the move.
TREE NEWS reports: The three major US stock indexes opened lower, with the Dow down 0.45%, the S&P 500 down 0.5% and the Nasdaq down 1.35%. Alphabet fell more than 11% after its Q3 revenue missed expectations and cash burn intensified, dragging AI software stocks lower. ServiceNow dropped 22%, its biggest intraday decline since 2016, while Caterpillar fell 12% at the open, now 40% below its June high.
TREE NEWS reports: The S&P 500 opened 44.37 points lower, down 0.57% at 7,699.61. The Dow Jones Industrial Average fell 388.97 points, or 0.74%, to 52,086.13, while the Nasdaq Composite dropped 348.03 points, or 1.31%, to 26,201.82.
TREE NEWS reports: A report jointly released by several UN agencies on Oct. 29 during the 17th Conference of the Parties to the Convention on Biological Diversity (COP17) found that about 252 million hectares of ecosystems worldwide are under restoration. The report said overall progress remains insufficient to meet the global restoration target for 2030.
TREE NEWS reports: The pan-European Stoxx 600 index extended its gain to 1% and set a new intraday high. The move marks a fresh peak for the benchmark during the trading session.
TREE NEWS reports: Traders reduced their bets on European Central Bank interest-rate increases, now pricing 68 basis points of tightening through the end of 2027. The shift in market expectations came as investors reassessed the ECB’s policy path.
TREE NEWS update: The spread between French and German 10-year government bond yields narrowed by 4 basis points to 150 basis points after the European Central Bank announced its rate decision. German bonds held their gains, with the 10-year yield at 3.35%. The euro fell 0.4% against the dollar to 1.1111, hitting a 17-month low.
TREE NEWS update: The European Central Bank said a worsening energy shock could push inflation higher, reiterating its commitment to stabilizing inflation at its 2% medium-term target. The Governing Council remains ready to adjust all of its tools, the ECB said, adding that core inflation has remained broadly stable overall.
TREE NEWS update: The European Central Bank kept its main refinancing rate unchanged at 2.65% on Thursday, in line with expectations and matching the prior reading. The decision leaves the eurozone’s benchmark borrowing cost at its existing level, with both the forecast and previous value also at 2.65%.
TREE NEWS update: French President Emmanuel Macron said the changeover in the European Central Bank’s leadership should proceed in an orderly and balanced manner. He did not name a preferred candidate or set a timetable for the succession. The remark comes as the eurozone’s top monetary post is due for renewal.
TREE NEWS update: The European Central Bank is scheduled to release its policy interest rates at 21:15 Beijing time, covering the main refinancing rate, the deposit facility rate and the marginal lending rate. Markets will watch the figures for the ECB’s latest policy stance.
TREE NEWS reports: Core PCE services prices excluding housing rose 0.37% in September, lifting the 12-month rate to 3.6%, matching the highest reading since 2024, Nick Timiraos noted. Core goods prices also held firm, up 0.20%, with their annual gain now at 2% after falling year-on-year during 2024. If core goods keep rising at that pace, services prices must slow more markedly for the Fed to reach its 2% inflation target.
TREE NEWS reports: Shanghai silver fell nearly 3% at the opening of China’s night futures session, leading declines across energy and industrial commodities. Pure benzene, styrene, low-sulfur fuel oil, paraxylene, coke, Shanghai tin, soybean No. 2, coking coal, palm oil and fuel oil each dropped more than 1%. Pulp rose over 1%, with glass, caustic soda and liquefied petroleum gas also gaining.