Other news

Markets will face another significant U.S. Federal Reserve interest rate hike. Officials expect a fourth consecutive 75 basis point rate hike on Wednesday, Nov. 2 at 2 p.m. ET.

On Thursday, last week, Elon Musk finally acquired Twitter. His first act as head of the company was to fire top executives, but along with this he also clarified how he sees the future of the company and the social network and what he plans to achieve.

As part of the RECOVER initiative, the antiviral drug Paxlovid from Pfizer Inc. was chosen as the first drug to be studied in patients with long-term COVID.

Dogecoin surged on Saturday, October 29, Reuters reported. The hike follows a $44 billion acquisition of Twitter by Elon Musk.

Although prices remained unacceptably high in September, a slowdown in wage growth points to a possible weakening of the situation, a new set of inflation data released on Friday showed. This is a welcome development for the Fed, which is fighting to reduce the highest inflation in 40 years.

Ford was ordered to pay $104.6 million in damages to Versata Software Inc. According to the lawsuit, the automaker was found guilty of violating a 2004 licensing contract and misusing trade secrets.

Chevron Corp posted its second-highest quarterly profit ever, beating analysts' estimates.

The European Central Bank (ECB) hiked interest rates by 75 basis points on Thursday, October 27. A further monetary tightening is foreseen, along with a subsequent slowdown in economic growth.

Mastercard Inc. on Thursday dismissed fears of slower consumer spending growth after a lower-than-expected revenue growth forecast for the last three months of the year overshadowed an upbeat quarter for the U.S. payment system.

According to a Reuters poll, on Tuesday, the Reserve Bank of Australia (RBA) will raise interest rates again by a modest 25 basis points, despite the record level of inflation registered for the first time in thirty years.