Unexpected Increase in U.S. Crude Oil, Gasoline, and Diesel Inventories

Data from the U.S. Energy Information Administration showed that U.S. crude oil inventories increased
by 2.1 million barrels in the week ending on November 1, defying analysts’ expectations of stable inventories.

Contents

Oil
Arm Holdings
Interest Rates

Oil

Gasoline inventories rose by 400,000 barrels, contrary to expectations of a 900,000-barrel decrease.
Additionally, distillate inventories, including diesel and heating oil,
increased by about 2.9 million barrels, surpassing expectations of a 300,000-barrel rise.

Arm Holdings

“Arm Holdings” exceeded expectations in the second quarter and announced a partnership with Meta to develop AI applications. The British chipmaker Arm Holdings returned to profitability in the second quarter of fiscal year 2025, announcing the shipment of more than 300 billion chips since 1990. The company also confirmed its new partnership with Meta to develop a new generation of AI applications. Arm reported profits of $107 million, or 10 cents per share, in the three months ending September 30, compared to a loss of $110 million, or 11 cents per share, in the same period last year. Adjusted earnings per share reached 30 cents, surpassing analysts’ expectations of 26 cents, while revenues rose by 5% to $844 million, beating expectations of $810 million. Despite this positive performance, Arm’s depositary receipts listed on the Nasdaq under the ticker “ARM” fell by 5% after closing Wednesday’s trading with a 2.85% increase to $144.68.

Interest Rates

Mortgage interest rates rise in the U.S. as markets assess Trump’s win and his pledges to reduce housing costs. Long-term mortgage interest rates in the U.S. increased during Wednesday’s trading as markets reacted to Republican candidate Donald Trump’s victory in the presidential election. The 30-year mortgage rate rose by 9 basis points to 7.13%, according to data from “Mortgage News Daily.” Investors are evaluating the potential effects of Trump’s financial policies, especially after he promised during his campaign to reduce housing costs, including mortgage rates. In a previous rally in Arizona, Trump stated his intention to lower mortgage rates to 2%, aiming to support homebuyers and enable them to refinance their loans.

Unexpected Increase in U.S. Crude Oil, Gasoline, and Diesel Inventories

Unexpected Increase in U.S. Crude Oil

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