Web Trader MT5 
Coca-Cola reported stronger-than-expected third-quarter results, with adjusted earnings per share of $0.82 beating Wall Street’s estimate of $0.78, and revenue of $12.41 billion slightly above expectations of $12.39 billion. Following the results, Coca-Cola’s shares closed up 4% on Tuesday. Dow Jones also responded positively to the news.
The Dow Jones surged to a record high above 47,000, supported by solid earnings from companies such as Coca-Cola, before closing at 46,947. Meanwhile, the S&P 500 and the Nasdaq 100 slipped as tech stocks lost momentum. After hours, Netflix shares fell 6% after missing earnings expectations.
Investor sentiment remains positive ahead of a heavy earnings week, with Tesla set to report today, marking the start of results from the Magnificent Seven tech giants. So far, more than three-quarters of S&P 500 companies have exceeded expectations. Stronger-than-expected earnings, particularly from tech stocks, could fuel another leg higher for equities.
Markets await Friday’s September CPI report, one of the few key data releases unaffected by the U.S. government shutdown. The inflation reading will help shape expectations for the Federal Reserve’s late-October meeting, where markets anticipate a quarter-point rate cut, with another likely in December.
In Europe, The U.K.’s annual inflation rate held steady at 3.8% in September, despite expectations of an increase to 4%. This marks the third consecutive month of unchanged inflation. However, policymakers are still unlikely to cut interest rates from the current 4%, while inflation remains elevated.
And in the commodity market, gold and silver prices suffered their steepest one-day decline since 2013, after a long rally in precious metals. Gold fell as much as 6.3% to just under $4,100 per ounce while silver tumbled more than 8%, marking its worst day since 2021. The selloff continued in early trading today as gold fell to $4,004 and silver reached $47.56.
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