1. Home
  2. Markets Updates
  3. NAGA Weekly Recap November 6 – November 10 - 2023

NAGA Weekly Recap November 6 – November 10 - 2023

10 November 2023

Share the article:

Maxim Bohdan

This week in finance, we've seen a whirlwind of activity affecting markets worldwide. The Federal Reserve sends mixed signals about future rate hikes, while oil prices hit a surprising low, even as geopolitical tensions rise. As the Euro struggles against the Dollar, investors are left wondering: how will these global economic shifts affect their portfolios?

Join us as we break down these key developments and their implications for the investing world.




Dow Jones dives 220 points as Powell gives this inflation warning

The Dow Jones Industrial Average declined by 220 points following Federal Reserve Chairman Jerome Powell's remarks at the IMF Annual Research Conference in Washington, D.C. Powell's comments introduced uncertainty regarding the future trajectory of interest rates.

He emphasized the Federal Open Market Committee's commitment to establishing a monetary policy that effectively reduces inflation to 2% over time, but also acknowledged a need for more confidence in having achieved this goal. This statement dampened Wall Street's optimism, which had grown following last week's FOMC meeting. As a result of these developments, the Dow Jones fell to 33,891 points.

Explore Markets on NAGA

Trading involves significant risk of loss.


Disney tops earnings forecasts

Walt Disney ($DIS) surpassed Wall Street's expectations with its latest earnings report, primarily due to increased attendance at its Shanghai and Hong Kong theme parks. The company's shares rose by 3% in after-hours trading, reaching $87.14. This increase reflects investor confidence in CEO Bob Iger's cost-cutting measures and the company's significant gains in streaming subscribers.

Additionally, Disney is considering reinstating dividend payments to shareholders by the end of 2023. For the fiscal fourth quarter ending September 30, Disney's earnings were 82 cents per share, exceeding the predicted 70 cents, with a total revenue of $21.2 billion, aligning with expectations.

Explore Stocks on NAGA

Trading involves significant risk of loss.


Oil prices drop to 3-month low amid record US production

Oil prices have reached a three-month low, influenced by record oil production in the United States. U.S. crude oil, particularly West Texas Intermediate, has seen a significant price drop of over 15% since late September, now trading at around $75 per barrel. This decline persists despite production cuts by major oil producers.

A key factor contributing to the price drop is the reduced global demand for oil, particularly from China, the world's second-largest oil consumer, which is currently facing economic challenges. In contrast, US oil production reached a new high with 13.2 million barrels per day at the end of October.

Explore Commodities on NAGA

Trading involves significant risk of loss.


EUR/USD price: FED & ECB president to facilitate a move toward 1.0800?

The Euro has recently shown signs of strengthening against the US Dollar, but has struggled to sustain gains above the 1.0700 level. Despite mixed messages from Federal Reserve policymakers, markets maintain a generally optimistic view that the Fed might pause its rate hikes.

The recent release of the European Central Bank (ECB) Economic Bulletin exerted slight pressure on the Euro, causing the $EURUSD to drop below 1.0700. The bulletin highlighted expectations of a continued weak economy throughout 2023, with reduced foreign demand and tighter financing conditions impacting investment and consumer spending.

Explore Forex on NAGA

Trading involves significant risk of loss.


This concludes our weekly recap. Have a great weekend and see you next week! 👋

IMPORTANT NOTICE: Any news, opinions, research, analyses, prices or other information contained in this article are provided as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and therefore, it is not subject to any prohibition on dealing ahead of dissemination. Past performance is not an indication of possible future performance. Any action you take upon the information in this article is strictly at your own risk, and we will not be liable for any losses and damages in connection with the use of this article.
RISK WARNING: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A high percentage of retail client investors lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Related articles

NAGA Weekly Recap June 9 - 13, 2025
13 June 2025
Catch up on this week’s market moves: strong U.S. jobs data lifted sentiment, but inflation risks and stalled trade talks kept investors cautious. Tech led gains, oil climbed, and the dollar slipped. Read the full financial recap for June 9–13, 2025.

Read more

Gladys Eguia

Top Economic Events to Watch | June 9 - 13, 2025
10 June 2025
Get the latest CPI, Core CPI, and PPI data insights for June 2025. Discover how this key inflation data could impact markets and your trading strategy.

Read more

Gladys Eguia

NAGA Weekly Recap June 2 - 6, 2025
6 June 2025
Markets steadied this week ahead of the NFP report, with inflation cooling, tech stocks rallying, and gold and FX reacting to shifting Fed rate expectations. Get the full breakdown across stocks, commodities, and currencies.

Read more

Gladys Eguia