This week saw a busy earnings season as several major companies reported their quarterly results. Samsung, Uber, Robinhood, Coinbase, UBS and Pfizer were among the firms that attracted the most market attention. Notably, some of the most influential tech companies like Meta, Apple, Amazon and Alphabet, also announced their earnings.
In another significant move, it was announced Nvidia would replace Intel in the Dow Jones Industrial Average. Furthermore, a lawsuit regarding Elon Musk's $1 million voter giveaway has returned to state court and Japan's central bank decided to keep its interest rate unchanged.
In Europe, the European Commission began a formal investigation into the Chinese shopping platform Temu, focusing on the potential sale of illegal merchandise. Economic reports showed that inflation in both the Eurozone and Germany rose to 2% in October, while the Euro area economy grew by 0.4% and Germany's GDP increased by 0.2% in the third quarter of the year.
Political campaigning ramped up in the United States as Vice President Kamala Harris and former President Donald Trump intensified their campaign events ahead of Tuesday's elections.
Geopolitical events also made headlines, with North Korea announcing it fired an intercontinental ballistic missile on Thursday, escalating tensions in the region. In Israel, the parliament voted in favor of a bill banning UNRWA, the UN agency for Palestinian refugees, drawing international criticism, while Hezbollah appointed Naim Qassem as its new leader.
