Web Trader MT5 
Oil prices surged about 3% in early trading today after the Trump administration imposed new sanctions on Russia’s top crude producers, accusing the country of failing to pursue peace in Ukraine. Brent rose to $64.53 per barrel and WTI to $60.77.
Treasury Secretary Scott Bessent called for an immediate ceasefire and warned that more actions could follow if Russia doesn’t change course. These sanctions followed the cancellation of a planned Trump–Putin meeting in Budapest.
Tesla’s Q3 results showed mixed performance as revenue rose 12% year over year to $28.1 billion, exceeding expectations, but earnings per share of 50 cents missed expectations of 54 cents. Net income dropped 37% to $1.37 billion due to lower EV prices and a 50% jump in operating expenses tied to AI and R&D projects.
Following the earnings report, Tesla’s stock fell nearly 5% in after-hours trading, as the company offered little forward guidance.
U.S. Stock market closed lower yesterday. The S&P 500 fell 0.5%, the Dow Jones and Nasdaq 100 dropped as investor sentiment weakened on news that the White House may curb exports to China involving U.S. software. Treasury Secretary Scott Bessent said new restrictions could take effect by November 1.
Investors are closely watching earnings from large-cap U.S. companies, seen as crucial to sustaining the current bull market rally. So far, over 75% of S&P 500 firms have beaten estimates.
Gold extended its losses in yesterday’s session as the price fell to $4,004 per ounce. The precious metal later rebounded and it’s currently trading around $4,124. Silver is still trading below $50 after it reached a low of $47.56 yesterday.
Investors will be monitoring Friday’s CPI numbers as they could provide further insights into the Fed’s interest rate decision next week. According to the CME FedWatch tool, the market now sees a 96.7% chance of a rate cut of 25 basis points.
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