Mixed trend in Europe; The POTSI rises after the fall in inflation

Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations

15:09

Novocure shares are up 22% in pre-trade following FDA approval for its device that treats lung cancer using electric fields. The stock has risen 21% in the last five days in anticipation of the possibility of approval and is trading at $1.9 billion before today’s increases.

Novocure’s device will be used to treat NSCLC lung cancer, one of the largest markets in the cancer field, but in the first phase the product will be given in combination with immunotherapy or chemotherapy only to those whose condition worsened after platinum-based treatment. An experiment conducted by the company met all of its objectives and the product was found to be safe, therefore the market expected the FDA’s approval, however there were parties who claimed that the experiment compared the treatment to an outdated standard and therefore it would be challenging to market the product. The company claimed that this was not a problem.

If she is right, a much larger market will now open up for her than the brain cancer market in which she operates today, which has already generated revenues of $150 million in the last quarter. Recently, CEO Assaf Danziger left the company, after 22 years in the position, and the task of penetrating the new market passed to the new CEO Ashley Cordova.

13:54

Wall Street Report Season: Today More reports to be released, Morgan Stanley rounds out the major bank reports, after mostly positive reports from Goldman Sachs, Citigroup and Bank of America. Other companies that will report today are Abbott Laboratories and-US Bancorp Netflix Post tomorrow. Next week the report season will heat up with reports from major tech companies, incl Alphabetical (Google) andTesla .

Airbus plans to cut up to 2,500 jobs in its defense and space division. The European planemaker intends to implement the cuts, which make up 7% of its workforce in this division, by mid-2026, according to CNBC, sources said on condition of anonymity because the measures have not yet been officially announced.

12:34

Trading in Europe is mostly down while the global market sentiment worsens. The European Stoxx 600 index is down 0.3%. The FTSE index is unusual among the major regional indices, rising by 0.6% following recent data in the United Kingdom which showed that the inflation rate dropped sharply to 1.7% in September. The sharp drop from 2.2% recorded in August reinforces expectations that the Bank of England will cut interest rates in November.

stock LVMH down about 6% after the luxury goods group reported a 3% drop in sales in the third quarter.

The weak opening in Europe’s main markets followed declines on Wall Street yesterday and comes at the same time as declines in most Asia-Pacific markets overnight, with Japan’s Nikkei leading the losses.

11:05

The shortfall in Europe is running in a mixed trend this morning. Dax down 0.2%, Kac down 0.7%, British FTSE up 0.7%.

09:45

World Liberty Financial, a crypto project backed by the Republican presidential candidate and his family, sold about 550 million tokens yesterday at a price of 1.5 cents per token, which is about 3% of the tokens offered for sale, according to the site. A progress bar on the site showed that up to 20 billion tokens had been allocated for sale.

While the site was operating normally late yesterday afternoon, it suffered a number of outages earlier in the day, with many traders complaining on social media that they were unable to purchase the token. Customer service was unavailable.

The Republican presidential candidate has recently stepped up his efforts to attract the funds and votes of the crypto industry. His latest attempt is, as mentioned, a digital currency project called World Liberty Financial. Although information about the project is still scarce, the team behind it said this week that the focus will be on “distributing stable currencies linked to the US dollar around the world” and ensuring the dominance of the US dollar.

Stablecoins are a type of cryptocurrency that aims to maintain a 1:1 exchange ratio against government currencies, such as the US dollar. The most popular stablecoin is Tether, which many traders use to store cash, invest in other tokens, and exchange for traditional currencies. However, it is also widely used for illegal activities, including terrorist financing and drug trafficking.

Trump and his sons, Eric Trump and Donald Trump Jr., have been promoting the project on social media for months. During a live broadcast on X last month, the project people announced that 63% of the tokens will be sold to investors who will have to meet income and net worth criteria.

The WLFI token is not a share and does not confer economic rights in the project, according to a document called “gold foil” that provides certain details about the project. This is a token that gives its holders the right to participate in the decision-making process in the project, such as voting on project changes, marketing initiatives and new features.

World Liberty Financial states that it will provide users with information and access to third-party DeFi applications (DeFi is an umbrella term that refers to financial services such as lending, borrowing and trading that are performed automatically by software and without human intervention).

09:04

Macro – The consumer price index published a few minutes ago in Great Britain indicates that inflation in the island has fallen below 2%, thereby greatly increasing the chances of lowering interest rates in the country. Inflation now stands at only 1.7% compared to 2.2% measured last month.

08:40

Trading in Asia this morning has a mixed trend. In Japan the Nikkei falls by 1.8%, in China the Shanghai index rises by 0.4% and the Hang Seng by 1%, the South Korean Kospi falls by 0.6%.

Prominent in declines in Asian chip stocks after Dutch semiconductor equipment company ASML issued disappointing forecasts, triggering declines in other stocks in the sector.
Shares of the Japanese chip maker Tokyo Electron fall by 10%.

● The Chinese stock market is emerging: are there new opportunities for investors?

Wall Street futures indicate a slight recovery – Nasdaq up 0.2%, Dow Jones unchanged and S&P 500 up 0.1%.

Trading on Wall Street closed yesterday with prices falling, led by chip stocks. The Nasdaq index fell by 1%, the Dow Jones fell by 0.7%, the S&P 500 by 0.7%.

The reasons for the decline in chip stocks are, as mentioned, the disappointing report of the chip equipment manufacturer, ASML the dutch. The impact on AI chip stocks comes from the fact that the company is a key node in the artificial intelligence chip production chain, and a slowdown in its growth could be a signal to the entire market. In addition, today it was announced that the American government is considering imposing a limit on the export of chips designed for artificial intelligence to the Gulf countries.

Despite the concerns about the new iPhone, Maniyat dark reached an all-time high on Tuesday. The stock ended the trading day with an increase of more than 1%, and closed at a price of $233.85. During the day, it reached a high of $237.49 before paring gains. Apple is up 5% in the last month and 35% in the last six months.

chain of pharmacies, Walgreen Boots Alliance Jumped about 16% after beating forecasts in the third quarter, while the company is cutting expenses to try to recover from a difficult situation. The company announced today its intention to close about 1,200 branches in the next three years, of which 500 in the fiscal year 2025 alone. According to the company, closing the stores will be “immediately beneficial” to its profit and free cash flow. Walgreens operates about 8,700 branches in the US, with a quarter of them unprofitable.

Oil prices fell by about 5% yesterday, with American oil trading at $70 per barrel and Brent oil at $74. As you may remember, since Iran attacked Israel, the price of oil jumped from $68 per barrel to about $78 per barrel, when investors became concerned that the Israeli response would target Iran’s oil reserves and infrastructure, among other things. According to a report in the Washington Post this morning, it appears that during the coordination between Israel and the US regarding the nature of the response, the possibility of damaging the oil installations is not a top priority.

At the same time, in the monthly update of the International Energy Agency IEA, it appears that they continue to expect a moderate increase in supply, while demand is expected to recover only during the next year, as can be seen in the attached graph. “In the absence of a major geopolitical disruption, the market faces a significant surplus in the new year.” As a result, sharp declines were recorded in energy stocks, especially in them Occidental Petroleum , Conoco-Phillips andExxon Mobile .

At the same time, there was demand for government bonds yesterday, which pulled the dollar up against the other currencies, mainly against the euro and the pound and even against the shekel – the ten-year bond yield decreased by 8 basis points to 4.06% and the two-year bond yield traded stably , 3.96%.