Oil prices settled higher as analysts focused on potential fuel supply disruptions from fresh U.S. sanctions and Ukrainian drone attacks on Russian refineries, although predictions of a crude supply surplus kept gains in check.
U.S. drugmaker Pfizer has clinched a $10 billion deal for obesity drug developer Metsera, capping a fierce biotech bidding war between the New York-based pharma giant and Danish rival Novo Nordisk.
Shares of crypto-focused companies have tumbled last week, capping a bruising stretch for the digital asset sector marked by renewed macroeconomic fears and lingering fallout from October’s liquidity crunch and mixed corporate earnings. Coinbase, Block and Robinhood fell between 11 and 14%.
U.S. consumer sentiment slumped to near a 3.5 year low in early November as households across the political spectrum worried about the economic fallout from the longest government shutdown in history, which has caused disruptions ranging from food benefit payments to grounded flights.
The U.S. dollar fell against the euro and Swiss franc for a second straight session as data showed weakness in the U.S. labor market, increasing expectations of another rate cut this year. Meanwhile, sterling rose after the Bank of England kept rates unchanged ahead of this month’s budget.
| U.S. stocks closed in negative territory, with a resumption of Tuesday’s tech selloff as investors contended with mounting economic uncertainty and stretched valuations. All three major U.S. equity indexes lost ground as risk appetite was dampened by worries over inflated stock prices |
