Nasdaq Declines Amid Oracle Financing Withdrawal; ECB Holds Rates Steady; BoE Expected to Cut Rates

The Nasdaq fell by 1.8%, with a decline attributed to Blue Owl Capital withdrawing equity financing for an Oracle data center project. This signals potential caution in the market as both the Nasdaq and S&P 500 approach critical technical levels.

The European Central Bank (ECB) is expected to maintain current policy rates, with upward revisions to GDP projections for 2023 and 2024 anticipated. ECB President Lagarde is likely to emphasize interest rate stability.

The Bank of England (BoE) is projected to reduce its policy rate by 25 basis points to 3.75% following recent inflation reports. The New Zealand economy grew by 1.1% quarter-over-quarter in Q3, rebounding from a previous contraction, with broad-based growth, particularly in business services and manufacturing. In Hungary, economic sentiment improved, with the GKI-index rising, while the forint trades near EUR/HUF 390.