Affected by poor economic data and trade tensions, European and American stock markets rebounded on the 3rd after a sharp decline on the 2nd. Out of concern about the future economic prospects, oil prices fell in the New York market, while the price of gold, as a safe haven asset, rose significantly.
As the market believes that the possibility of the Fed's interest rate cut this month rose to 90%, the three major stock indexes of the US stock market rose on the 3rd. As of the close of the day, the Dow Jones Industrial Average closed at 26201.04, up 0.47%. The standard & Poor's 500 stock index closed at 2910.63, up 0.80%. The Nasdaq composite index closed at 7872.27, up 1.12%.
In terms of European stock markets, affected by poor economic data and the US plan to impose tariffs on a series of EU products exported to the United States, European stock markets experienced their worst day since December last year, with the FTSE 100 index in London and CAC40 index in Paris falling by more than 3%. However, as of the close on the 3rd, the French stock market reversed the decline of the previous day, and the CAC40 index in Paris closed at 5438.77, up 0.30%. The FTSE 100 index in London continued to fluctuate downward and closed at 7077.64, down 0.63%. Frankfurt stock market is closed for public holidays.
As the September US Non Manufacturing Purchasing Managers' index released by the United States on the 3rd was significantly lower than market expectations, reaching the lowest level in nearly three years, investors were worried about the slowdown of energy demand. As of the close of the day, the futures price of light crude oil for November delivery on the New York Mercantile Exchange closed at US $52.45 a barrel, down 0.36%. London Brent crude oil futures for December delivery closed at US $57.71 a barrel, up 0.03%.
In terms of international gold prices, the rising risk aversion in the market boosted the gold futures price. As of the close of the day, the December gold futures price, the most active trading in the gold futures market of the New York Mercantile Exchange, closed at US $1513.8 per ounce on the 3rd, up 0.39%.