Oil Prices Drop Over 6% As Supply Fears Ease; Asia And Europe market Up - Global Markets Today While US Slept

On Friday, October 25th, U.S. markets closed mixed, with the Nasdaq ending higher, boosted by megacap stocks such as Tesla, Amazon, Apple, and Microsoft, as investors looked ahead to key earnings reports.

Tesla’s upbeat sales forecast rekindled optimism in tech stocks, while chip giant Nvidia briefly surpassed Apple in market value. Rising Treasury yields and upcoming employment data fueled speculation on potential Fed rate cuts.

According to economic data, U.S. consumer sentiment rose to 70.5 in October, while durable goods orders fell 0.8% to $284.8 billion in September, matching August’s decline.

Most S&P 500 sectors closed lower, led by declines in financials, real estate, and utilities, while information technology and communication services outperformed, ending the session higher.

The Dow Jones Industrial Average dipped 0.61% to close at 42,114.40, the S&P 500 slid 0.03% to 5,808.10, while the Nasdaq Composite rose 0.56% to finish at 18,518.61.

Asia Markets Today

• On Monday, Japan’s Nikkei 225 closed higher by 2.01% at 38,650.50, led by gains in the Manufacturing, Textile and Electrical/Machinery sectors.
• Australia’s S&P/ASX 200 gained 0.12% and ended the day at 8,221.50,  led by gains in the I.T., Consumer Discretionary, and Metals & Mining sectors.
• India’s Nifty 50 traded higher by 0.65% at 24,339.15 and Nifty 500 was up 0.67% at 22,649.95.
• China’s Shanghai Composite rose 0.68% to close at 3,322.20, and the Shenzhen CSI 300 gained 0.20%, finishing the day at 3,964.16.
• Hong Kong’s Hang Seng gained 0.04% and closed the session at 20,599.36.

Eurozone at 06.00 AM ET

• The European STOXX 50 index was up 0.25%.
• Germany’s DAX gained 0.12%.
• France’s CAC rose0.47%.
• U.K.’s FTSE 100 traded lower by 0.06%.

Commodities at 06.00 AM ET

• Crude Oil WTI was trading lower by 6.38% at $67.23/bbl, and Brent was down 6.03% at $71.06/bbl.
• Oil prices dropped sharply on Monday after Israel’s airstrikes bypassed critical oil and nuclear sites, alleviating immediate supply concerns. Reduced geopolitical risk played a key role, shifting the focus to potential delays in OPEC+ production quotas due to weaker market fundamentals.
• Natural Gas fell 3.17% to $2.994.
• Gold was trading lower by 0.45% at $2,742.30, Silver declined 0.70% to $33.550, and Copper slid 0.34% to $4.3555.

U.S. Futures at 06.00 AM ET

Dow futures were up 0.53%, S&P 500 futures rose 0.65%, and Nasdaq 100 Futures increased 0.85%.

Forex at 06.00 AM ET

The U.S. Dollar Index slid 0.01% to 104.25, USD/JPY was up 0.30% at 152.76, and USD/AUD gained 0.12% to 1.5147.

Photo by Pavel Bobrovskiy via Shutterstock