27.10. Record Wall Street closure, oil drop, sell-off in China tech shares

News for today, October 27th:

US stocks closed moderately higher on Tuesday, with the Dow Industrials and S&P 500 hitting new records but gains held back by falling Facebook shares after quarterly earnings. Asian stocks fell Wednesday amid renewed regulatory concerns that sparked the biggest sell-off in Chinese tech stocks in seven weeks. At the same time, short-term Treasury yields soared as investors wagered that inflation would push interest rates further. In China, energy stocks were hit by new measures to contain the rising coal prices, with prices down 10%, showing a 40% drop from record peaks.

Oil prices fell on Wednesday after industry data showed that US crude inventories rose more than was expected last week and fuel inventories also rose, unexpectedly. Brent crude futures fell 69 cents, or 0.8%, to $ 85.71 a barrel by 05:59 GMT after closing at their highest level in seven years on Tuesday. West Texas Intermediate (WTI) crude oil futures fell 79 cents, or 0.9%, to $ 83.86 a barrel, after rising 1.1% in the previous session. Analysts believe that due to the rise in Brent oil prices over the past eight weeks and the rise in WTI oil prices for 10 weeks, oil prices are becoming overbought.

The price of Brent crude is $ 85,54 per barrel, WTI — $ 83,70. EUR/USD is at 1.1607, GBP/USD — 1.3764, gold is at $ 1,786.83 per ounce.­­­­