Market Overview: Oil, Nasdaq 100 & Gold
Date: 26 October 2026
Key Market Highlights
This week presents significant movements in global markets, driven by various factors including geopolitical tensions, earnings reports from major tech companies, and shifts in interest rates.
Oil: Geopolitical Tensions Drive Volatility
Oil prices have seen a decline of approximately 2% following a substantial increase of over 6% last week. This fluctuation is attributed to ongoing geopolitical tensions, particularly between the US and Iran. Recent diplomatic efforts aimed at easing these tensions have provided some relief to the market. However, persistent supply disruptions continue to create uncertainty regarding future oil prices and their potential impact on global inflation.
US100: Big Tech Earnings Take Centre Stage
The Nasdaq 100 is under the spotlight this week as major technology companies, including Microsoft, Alphabet, and Amazon, prepare to announce their quarterly earnings. Investors are particularly focused on metrics related to AI spending, cloud growth, and overall profitability. The outcomes of these earnings reports could significantly influence the trajectory of US technology stocks, especially amidst rising concerns about the costs associated with AI investments.
Gold: Can Prices Hold Above $4,000?
Gold prices have managed to recover above the $4,000 per ounce mark after experiencing a decline of about 4% in the previous week. The upcoming interest rate decision from the Federal Reserve is anticipated to play a crucial role in determining gold's future direction. Investors are closely monitoring the US dollar, Treasury yields, and inflation expectations as they seek clues about gold's next movements.
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