Facebook Q3 Earnings Crush Estimates
Gold Hits One-Week High
Sterling Firms On Expected BOE Hike
This week in a nutshell: Oil Jumps To Two-Year Highs
Brent crude oil prices were near two-year highs on Wednesday as OPEC complied with its pledge for more supply cuts. USOIL traded almost 30 percent higher since 2017-lows in June. In other news, volatility rose for the U.S. markets this week after former Trump adviser George Papadopoulos made some significant revelations regarding Russia’s involvement in the past elections. Papadopoulos claimed that top Trump campaign officials agreed to a pre-election meeting with representatives of Russian President Vladimir Putin, suggesting that Trump’s campaign attempted to collude with Russian interests.*
Thu, November 2: In Today’s Markets…
1. Facebook Q3 Earnings Crush Estimates As Active Users Rise 16%
Facebook Inc (FB) posted some market-beating third quarter earnings results late on Wednesday, revealing that the social site’s both daily and monthly users continued to grow. Specifically, Facebook reported Q3 earnings of $1.59 per share, which was $0.31 higher than the Wall Street consensus estimate of $1.28. Daily and monthly active users were up 16% year-over-year. Revenues also rose 47.3% from last year to $10.33 billion, crushing analysts’ forecasts of $9.84 billion.**
2. Gold Hits One-Week High As Dollar Plummets
Gold rose to a one-week high on Thursday as the dollar weakened. Specifically spot gold (XAUUSD) rose to as high as $1,281.43 in early morning trade. Gold prices were boosted by a weaker dollar after the Federal Reserve opted to leave rates unchanged. It should be noted that the Fed also sharpened expectations for a year-end rate hike, highlighting a strengthening labor market after a robust U.S. ADP private employment report.**
3. Sterling Firms On Expected BOE Hike
The British pound (GBP) firmed today ahead of the Bank of England monetary meeting as it is expected to deliver the first rate hike in more than a decade. The BoE is expected to raise rates later within the day (12:00 GMT) to tackle inflation, which has picked up to a five-year high despite weakening economic growth.***
You can find and trade all of the above mentioned equities and commodities on BDSwiss Forex/CFD platforms.
*Source: Reuters
**Source: Investing.com
***Source: CNBC
