Markets at a glance

Original Arants conceptual illustration. Not a photograph or data chart.

The Reserve Bank of Australia voted on November 3 to lift its cash-rate target by 25 basis points to 4.85%. It cited broad inflation pressures, including energy costs, constrained capacity and technology-related demand. The bank now forecasts inflation returning to the top of its 2–3% target range in late 2027. That is a forecast, not a guarantee; the statement also describes weaker housing and rising unemployment.

Reserve Bank of Australia · November 3

Original Arants conceptual illustration. Not a photograph or data chart.

ISM’s October manufacturing PMI rose to 55.5 from 54.5 in September, marking a tenth consecutive month of expansion. Production reached 59.0, its strongest reading since November 2021. The prices index eased to 75.2 but still indicated widespread cost increases, while supplier deliveries slowed. These are survey diffusion indexes, not percentage growth rates in factory output. Stronger activity and persistent input pressures remain separate parts of the picture.

Institute for Supply Management · October report

Original Arants conceptual illustration. Not a photograph or data chart.

Palantir’s November 2 earnings release reports third-quarter revenue of $2.313 billion, up 96% from a year earlier. U.S. commercial revenue of $984 million exceeded U.S. government revenue of $953 million. GAAP operating income was $1.085 billion. Total contract value grew a more modest 6%, illustrating why bookings and recognized revenue should not be conflated. Its higher full-year revenue guidance is management’s outlook, not a promised result.

Palantir SEC-filed earnings release · November 2

Original Arants conceptual illustration. Not a photograph or data chart.

Ryanair said its July–September net profit fell 6% to €1.61 billion as unhedged fuel became more expensive. Reuters reports that 80% of fuel needs through March 2027 are hedged, compared with 25% for the following year. Management estimates current forward prices could add €2 billion to the subsequent annual fuel bill. A possible pay freeze and other savings remain proposals; projected fare increases and costs are not settled outcomes.

Reuters via MarketScreener · November 2

Original Arants conceptual illustration. Not a photograph or data chart.

Reuters’ November 3 report describes repeated strikes on cargo vessels near Romania and Bulgaria and NATO plans for additional patrol aircraft, radars and drones. Ukraine has diverted grain shipments toward Danube routes as port exports weaken. Analysts attribute attacks to Russia, which denies targeting its neighbours; Romania has not assigned responsibility for every incident. Territorial waters and exclusive economic zones are legally distinct, and the report does not establish NATO’s entry into the war.

Reuters via MarketScreener · November 3, updated 6:14 a.m. EST

Original Arants conceptual illustration. Not a photograph or data chart.

Supermarkets across at least eight European countries reported refrigeration failures and spoiled food on November 2, according to AFP’s report published by CNA. Several retailers described cyber incidents, while Belgian prosecutors opened an investigation without yet formally classifying the event as a cyberattack. Responsibility remains unknown. The disruption highlights the exposure of physical operations to connected control systems, but does not prove every affected store experienced the same cause.

AFP via CNA · November 2