London, Tuesday, 26 October 2021-
U.S. markets at record highs for the S&P 500 and Dow Jones on Tuesday
S&P 500: +0.18% at a record 4,574.79
Dow Jones: +0.04% at a record 35,756.88
Facebook mixed third-quarter results, drive its stock down 4%
In the meantime, chip stocks jump supported by the broader tech sector.
ExxonMobil and General Electric gained more than 2% apiece.
Despite a weak opening, the VIX volatility index, climbed to positive territory with a 4.9% gain to 15.98.
The dollar index increased 0.13% to 93.93.
International benchmark Brent crude trading at $85.64 – 0.55% up, while U.S. benchmark West Texas Intermediate was trading at $84.66 – up 1.1%
In a report on Sunday, Goldman Sachs forecasted that Brent crude will be trading at $90 per barrel at the end of the year.
The report said: "We estimate that global oil demand has surpassed 99 million barrels per day and will shortly hit its pre-COVID level of 100 million barrels per day as Asia rebounds post the Delta wave. Specifically, we estimate that the 2022 Brent price would need to reach $110 per barrel to balance the deficit we expect through 1Q22 via the demand side alone”.
European stock markets end higher in anticipation of the ECB meeting on Thursday, where the central bank is expected not to raise interest rates.
STOXX Europe 600: +0.75%
FTSE 100: +0.76%
DAX 30: +1.01%
CAC 40: +0.08%
FTSE MIB 30: 0.58%
(Written and edited by: The Decision Maker)