## The American Stock Market Update
### Overview
The American stock markets saw modest declines after yesterday’s trading session. The day’s trading was largely influenced by developments in the Middle East following Iran’s air strike on Israel on Tuesday. President Joe Biden is reportedly discussing with Israel the possibility of attacking Iranian oil facilities in response to the escalation on Tuesday. This event had a significant impact on the oil sector, which moved against the current market trend. Additionally, there was a marginal increase in unemployment benefit applications last week, along with Hurricane Helene and the port strike resolution overnight. These factors might affect the release of September’s unemployment figures on Friday. Looking ahead, investors are awaiting the next market catalysts, such as inflation figures and the upcoming earnings season at the end of October.
### Market Performance
– The S&P 500 and the Dow Jones Industrial Index both declined by 0.2% and 0.4%, respectively.
– The tech-heavy Nasdaq Composite Index closed positively.
## Commodities Update
### Oil
– Oil prices surged as investors focused on the tense geopolitical situation in the Middle East.
– WTI oil rose by 5.4% to $73.9 per barrel, while Brent oil increased by 5.2% to $77.8 per barrel.
### Base Metals
– Base metals experienced widespread declines, with zinc and copper dropping by 2.5% and 2.1%, respectively.
– Other metals like nickel and aluminum also saw decreases during Thursday’s trading session.
### Gold
– Gold prices remained steady after recent rallies, holding at $2,659.7 per ounce.
## Stock Update
### Individual Stocks
– Nvidia climbed by 3.3% due to strong demand for their upcoming chip Blackwell used in AI technology.
– Tesla declined for the second consecutive day by 3.4% following disappointing delivery numbers.
– Oil giants Exxon and Chevron were among the day’s winners, rising alongside oil prices.
– Levi Strauss fell by 7.6% after missing revenue targets for the third quarter.
## Bond Market Update
– The US ten-year yield increased by seven basis points to 3.85%.
## Asian Market Update
– Asian markets were mostly in positive territory, with Japan and Hong Kong showing gains.
– Japan’s Nikkei 225 Index rose by 0.3%, and the Hang Seng Index climbed by 2.7%.
## Recommendations and Macro News
– SEB Equities downgraded Nordnet’s recommendation to hold from buy.
– Barclays raised Castellum’s price target to 115 kronor.
– Billerud’s price target was increased by Citigroup.
– Handelsbanken adjusted recommendations for Assa Abloy and ABB.
– Macro news includes the UK construction PMI and US labor statistics report.
By analyzing these market movements and developments, investors can make informed decisions about their portfolios and financial strategies. It’s crucial to stay updated on global events and economic indicators to navigate the ever-changing landscape of the financial markets effectively. Title: The Ultimate Guide to Investing: How to Grow Your Wealth and Secure Your Financial Future
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