Market News

Shares of online pet products retailer Chewy (NYSE: CHWY) has been under the spotlight in the last 2 months after the stock bounced back strongly from its September lows.

A busy week is ahead for global markets. Meetings of major central banks with ECB, BOE and FOMC on the horizon return this week. On the other hand, traders should also focus on consumer price data on Tuesday for further insight into the timing of higher rates.

Crude oil prices fell heavily on Tuesday weighed down by the strong US dollar and fuel demand worries. U.S. West Texas Intermediate crude dropped below $74 per barrel, the lowest since December 2021 while Brent crude fell below $80 for the first time since January.

Shares of Chinese electric-vehicle maker XPeng (NYSE: XPEV) recovered and enjoyed solid gains. The share price surged roughly 70% despite the car maker reported a wider loss for the third quarter.

This week the world’s major central banks, the Reserve Bank of Australia and Bank of Canada will kick off this month's central banks policy meetings.