US wholesale inventories rebound strongly in September

Global electric vehicle (EV) sales growth has slowed to its lowest rate since February 2024, primarily due to a plateau in the Chinese market and recent policy changes in the United States. This decline reflects a significant shift in consumer demand and market dynamics, particularly in China, where car sales have also seen a notable decrease.

Gold prices have steadied after three consecutive days of gains, buoyed by expectations of further monetary easing in the US following a recent interest rate cut by the Federal Reserve. Silver has also been trading near record highs, reflecting strong market sentiment.

The S&P 500 index achieved its first record high close since October, reflecting a significant recovery in investor confidence. This milestone was reached despite recent fluctuations in the market, including a slight decline prior to this peak as investors awaited the Federal Reserve's interest rate decision.

The U.S. military has seized a sanctioned oil tanker off the coast of Venezuela, a move confirmed by President Donald Trump. This operation is part of a broader strategy aimed at increasing pressure on the Venezuelan government led by Nicolás Maduro, amidst ongoing tensions in the region.

The U.S. is reportedly preparing to seize additional oil tankers off the coast of Venezuela following the recent seizure of a ship, which has heightened tensions between the two nations. This action reflects ongoing U.S. military operations aimed at curbing Venezuelan oil exports amid a backdrop of political instability in the country.

Emma Walmsley, CEO of GSK, has stated that the United States is the premier destination for pharmaceutical investment, citing its leadership in drug and vaccine launches. This assertion places additional pressure on the UK government to enhance its appeal to drug companies.

Natural gas storage levels have experienced a greater-than-expected decline, indicating a potential bullish trend for prices in the market. This development suggests a tightening supply, which could influence future pricing dynamics positively.

Wholesale inventories have surged, surpassing forecasts and previous figures, indicating a robust increase in stock levels that reflects positive market conditions. This growth suggests that businesses are preparing for increased demand, which is a promising sign for the economy.