Breaking News
Nov 7, 2022
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European markets rebound after Ryanair reported record first-half profit and indicated annual profit to return pre-Covid levels.
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German industrial production rose 0.6% in September from the revised 1.2% decline in August, Destatis reported.
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October inflation is expected to show an increase of 0.7% on a monthly basis and 8.2% on a yearly basis on Thursday.
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Gold, silver and platinum jumped between 3% and 7% in Friday's trading. For the year so far, gold and platinum are down 7% and silver 14%.
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Crude oil jumped 5% on the expectations that China may relax coronavirus restrictions in the weeks ahead.
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The U.S. benchmark indexes trimmed weekly losses to between 2% and 6% but rate path and slowdown worries dominated market sentiment.
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European markets extended weekly gains on the back of earnings optimism despite the deepening energy crisis and rising rates.
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Non-farm payrolls increased 261,000 in October from the revised 315,000 in September, the Department of Labor reported.
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The Bank of England lifted its key lending rate by 75 basis points to 3.0%, the largest rate increase in 33 years.
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Norges Bank lifted its key rate by 25 basis points to 2.5% and said rates will keep rising citing inflation above its target range.
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