Abercrombie & Fitch’s Stock Jumps as Quarterly Sales Surprise Wall Street

U.S. crude oil inventories have increased due to a rise in imports and a decline in exports, as reported by the U.S. Energy Information Administration. This shift reflects changing dynamics in the oil market, where net imports have become a significant factor influencing supply levels.

Cantor Fitzgerald, led by Howard Lutnick's two elder sons and three co-CEOs, is experiencing its most successful year to date, largely due to an early investment in cryptocurrency. This strategic move has positioned the firm favorably in the evolving financial landscape.

Ahead of the U.K. budget scheduled for November 26, traders have increased their hedging against potential volatility in the sterling, reflecting heightened uncertainty in the markets. This move comes as consumer confidence in the U.K. has declined, with households tightening their spending in anticipation of the budget's implications.

The U.S. government has decided to skip the publication of its initial estimate of third-quarter GDP, aiming instead to realign its schedule for future updates. This decision comes as the Bureau of Economic Analysis (BEA) and other statistical agencies work to recover from delays caused by the recent government shutdown.

The Treasury yield curve flattened at the beginning of the week, with the 10-year Treasury yield decreasing by approximately 3 basis points, while the 2-year yield fell by less than 1 basis point. This decline reflects a cautious market sentiment as investors adjust their expectations regarding future interest rate cuts by the Federal Reserve.