Overview

• European equities showed a muted response, with the DAX recovering from an early drop to trade little changed to slightly higher by early afternoon.
• Gold extended its safe‑haven rally to fresh records, trading up to about $3,875 per ounce and nearing $3,900 as the dollar softened and rate‑cut bets persisted.
• Oil prices reflected shifting supply signals, as talk of an OPEC+ output increase and the resumption of Kurdistan exports pressured benchmarks earlier in the week before a modest uptick on Wednesday.
• Key U.S. releases, including the September jobs report, could be postponed during the partial shutdown, adding uncertainty to market guidance despite futures still pricing an October rate cut.
• Lufthansa set out cost‑cutting plans as pilots backed strike action, Continental advanced restructuring with an eye on DAX retention, and court filings showed YouTube/Google will pay $24.5 million to settle a lawsuit over suspending Donald Trump’s account.