📆 Wednesday, November 1
► Europe's Stoxx 600 index saw slight gains lead by retail stocks (currently +0.2%), with notable performances from Next and GSK, both of which enhanced their profit and earnings guidance respectively. GSK released its Q3 results revenue and profit expectations. Their adjusted operating profit grew by 15%, adjusted EPS increased by 17% – resulting also in a a 2023 guidance upgrade.
► US stock futures witnessed a slight dip, with the S&P 500 and Nasdaq both down by 0.3%. Investors await the Federal Reserve's upcoming policy decision later today (18:30 UTC+0). The resilience of the US economy suggests the central bank may maintain elevated interest rates for the foreseeable future “higher-for-longer“. More importantly, many investors believe the Fed will adopt a more hawkish tone – while our chief analyst Robert Lindner believes this is likely the case, he expects the market will not believe the Fed has another rate hike on the books – although concerns about “higher-for-longer” may temporarily rise.
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