28.10. Decrease in global stocks, drop in oil amid new cases of COVID-19

News for today, October 28th:

Global stocks dropped from record highs as corporate earnings reports became a compelling reminder of current supply chain problems. Investors also awaited upcoming central bank meetings to assess if policy tightening could come sooner. The S&P 500 decreased 0.51% overnight on Wall Street from a record high of 4,574.79 hit Tuesday, while Nasdaq closed the session almost unchanged due to strong earnings from Microsoft (NASDAQ: MSFT) and Google parent Alphabet ( NASDAQ: GOOGL).

The US dollar rose in the early hours of the European session on Thursday amid political decisions by the central banks of Australia, Japan, and Europe. Oil prices fell to their lowest level in two weeks after official data showed an unexpected surge in U.S. oil inventories. Besides, outbreaks of the coronavirus infection in China, an increase in the number of cases of COVID-19 in Europe and record death rates in Russia that led to the threat of a lockdown in the country, undermine hopes for early economic recovery and slow down the multi-week rise in oil prices.

The price of Brent crude is $ 83,82 per barrel, WTI — $ 81,92. EUR/USD is at 1.1607, GBP/USD — 1.3761, gold is at $ 1,803.07 per ounce.­­­­