Strikes and electric vehicle slowdown affect Ford's Q3 earnings
Ford's third quarter earnings have been negatively affected by strikes from the UAW, and they have also announced a slowdown in their investments in electric vehicles.
(AI Video Transcript)
NatWest Bank
In today's European markets, one stock that you should keep an eye on is NatWest. They have just released their third quarter numbers, and even though interest rates have gone up, their net interest income has remained the same due to tough competition.
Ford's Q3 earnings
On the flip side, Ford's third quarter earnings have been negatively affected by strikes from the UAW, and they have also announced a slowdown in their investments in electric vehicles.Unfortunately, Ford had a tough quarter due to the UAW strike and has delayed their investments in electric vehicles.
Amazon
But it's not all bad news in the stock market. Amazon's stock has actually increased by about 7% in after-hours trading because of the success of their Amazon Web Services. Amazon has reported strong earnings and revenue, surpassing what analysts had estimated. Intel has also reported positive numbers and has announced plans to cut costs.
FTSE 100
In terms of market volatility, the London FTSE 100 and European markets have seen some big declines recently, with levels not seen since March and January. However, there seems to be some interest in buying now, although it is still a small amount.
Asian markets
On the other hand, Asian markets have been performing better with gains seen across the board. On Wall Street, higher yields and a strong economy have caused negative responses in the market.
The Federal Reserve and the Bank of England
Now, let's talk about some upcoming events that could affect the market. Both the Federal Reserve and the Bank of England will be making decisions on interest rates next week. Economists predict that both central banks will keep rates the same. As a recommendation, you might consider going short on the sterling against the USD, as the Bank of England is expected to hint at the potential for downside due to weak economic conditions in the UK.
ExxonMobil and Chevron
Exxon Mobil and Chevron have also released their earnings, with ExxonMobil beating expectations and Chevron showing a decline in revenue for the seventh consecutive quarter.
Gold
Lastly, let's touch on the commodities market. Spot gold has had an interesting week, with its price approaching the $2000 level. Overall, the markets are expecting a positive start to the day's trading.
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