International Oil Prices Soar; Brent Crude Tops $80 per Barrel

On Monday local time, the market further digested the impact of the significant increase in the number of non-farm jobs added in the United States in September, which was much higher than expected. The latest expectations from major Wall Street investment banks suggest that the Federal Reserve will cumulatively cut interest rates by about 50 basis points in the two interest rate meetings this year. At the same time, the surge in international oil prices has also raised concerns about rising inflation in the US and Europe. Investors have further downplayed the prospects of interest rate cuts by major central banks in the US and Europe. The yield on the 10-year US Treasury bond returned to above the 4% mark on Monday, reaching a two-month high, which suppressed market risk appetite. All three major US stock indices closed lower on Monday. As of the close, the Dow Jones Industrial Average fell by 0.94%, the S&P 500 Index fell by 0.96%, and the Nasdaq Composite fell by 1.18%.

On the 7th, international oil prices rose significantly, with Brent crude oil surpassing the $80 per barrel mark.

Analysts from multiple institutions believe that compared to the impact of Israel's attack on Iranian oil facilities, the market is more concerned about the situation in the Strait of Hormuz in Iran. Crude oil exported by major oil-producing countries in the Middle East through this waterway accounts for about 20% of the global total. Affected by the tense situation in the Middle East and Hurricane "Milton" affecting offshore oil and gas production in the Gulf of Mexico, international oil prices rose significantly on Monday. Brent crude oil closed above the $80 per barrel mark, setting a new high in nearly two months. As of the close, the price of light crude oil futures for delivery in November at the New York Mercantile Exchange closed at $77.14 per barrel, up 3.71%; the price of Brent crude oil futures for delivery in December in London closed at $80.93 per barrel, up 3.69%.

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On the 7th, popular Chinese concept stocks outperformed the US stock market, with Meituan and Li Auto rising by more than 4%, Baidu rising by more than 3%, and Alibaba rising by more than 2%. According to Bloomberg, as of last Friday, nearly $6 billion has flowed into emerging country ETFs (Exchange Traded Funds) listed in the US, with 5 major ETFs investing in Chinese stocks attracting about $4.9 billion, a significant increase in scale.

On the 7th, the three major European stock indices fluctuated with different gains and losses.

The tense situation in the Middle East and the possibility of major European central banks slowing down the pace of interest rate cuts have kept investors vigilant. Technology stocks generally fell, while home appliance stocks led the gains. The three major European stock indices fluctuated slightly on Monday, with different gains and losses. As of the close, the UK stock market rose by 0.28%, the French stock market rose by 0.46%, and the German stock market fell slightly by 0.09%.

On the 7th, international gold prices fell slightly.

The market no longer favors the prospect of aggressive interest rate cuts by the Federal Reserve. The US dollar index and US Treasury bond yields have both risen to about a two-month high, putting pressure on international gold prices to fall slightly on Monday. As of the close, the December gold futures price at the New York Commodity Exchange closed at $2,666.0 per ounce, down by 0.07%.