Monday,04 November 2024 17:01:16

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Monday,04 November 2024 at 17:00

European markets closed lower as traders awaited the U.S. presidential election due to take place on Tuesday.

U.S. stock indexes were trading flat to lower as investors braced for a pivotal week for global markets in which Americans will elect a new president and the Federal Reserve is likely to cut its benchmark policy rate.

Oil prices rose more than 2% on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a crucial week that includes the U.S. presidential election and a key meeting in China.

Gold continues to hold steady as investors prepared for the U.S. presidential election and the Federal Reserve could cut interest rates again.

In corporate news, Berkshire Hathaway reported a record cash pile of $325.2 billion in the third quarter as the company sold its equity stakes in prominent companies like Apple and Bank of America.

The Warren Buffet-owned company held 907.6 million, or 5.7 percent, of Apple's shares outstanding at the end of last year, valued at approximately $174.3 billion.

Currently, Berkshire's stake in the tech giant is valued at $69.9 billion, as per the company's latest quarterly report.

Markets

At the close

FTSE 100 8,184 +0.09%

FTSE 250 20,461 (-0.09%)

DAX 19,164 (-0.47%)

At 16.58

Dow Jones 41,722 (-0.79%)

S&P 500 5,710 (-0.32%)

NASDAQ 18,238 (-0.02%)

Fixed Income

UK 10-YR YIELD 4.459

Exchange Rates

GBP/USD 1.293

GBP/EUR 1.188

Commodities

Gold $2,733 (-0.06%)

Brent $74.72 +1.00%

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.