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Oil Prices Decline as OPEC+ Increases Output - 6.10.2025
PFE Technical Analysis - PFE Forecast
PFE Technical Analysis - PFE Forecast
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Todays’ Market Summary
- The U.S. dollar held steady this week
- Bitcoin hit an all-time high of $125,689
- The Dow Jones Industrial Average rose 0.5% to 46,758
- Brent crude oil futures settled at $64.53 per barrel
- Gold reached a record high of $3,892 per ounce
Top daily news
Pharmaceutical stocks showed significant gains on October 1, 2025, following a landmark agreement between the Trump administration and Pfizer. The deal exempts Pfizer from import tariffs for three years and introduces a discounted drug purchasing platform, TrumpRx, aimed at reducing consumer costs by bypassing middlemen. This move is expected to serve as a pricing model for other pharmaceutical companies.
Pharmaceutical stocks responded positively to the news:
- Pfizer (PFE) shares rose 13.9% over two days.
- AstraZeneca (AZN) surged 11.2%, reclaiming its position as the most valuable company on the London Stock Exchange.
- GSK and Hikma Pharmaceuticals saw increases of 6.2% and 3.5%, respectively.
Other major pharmaceutical companies, including Johnson & Johnson and Novartis, also experienced upward momentum, reflecting investor optimism about the potential for similar agreements with other firms.
This rally marks the strongest week for pharmaceutical stocks in 16 years, driven by both the Trump administration's pricing reforms and positive developments such as FDA approvals and strong quarterly earnings reports.
Investors are closely watching for potential follow-up agreements with other pharmaceutical companies, which could further influence market dynamics in the sector.
Forex news
The U.S. dollar held steady this week, while the euro, pound, yen, and Australian dollar moved in different directions. Traders are watching key price levels for signs of a new trend as economic data and central bank policies continue to drive the market.
- EURUSD: The euro faced downward pressure against the U.S. dollar, with the EURUSD trading at 1.1910. Analysts suggest that a confirmed breakout above this resistance level could push the trend further.
- GBPUSD: The British pound snapped a four-day winning streak, hovering around 1.34500. Potential targets and price forecasts indicate a cautious outlook for the pair.
- USDJPY: The U.S. dollar continued to strengthen against the Japanese yen, with the USDJPY showing signs of resilience.
- AUDUSD: The Australian dollar remained under pressure, with the AUDUSD trading lower amid a stronger U.S. dollar.
Stock Market news
The Dow Jones Industrial Average rose 0.5% to 46,758, the S&P 500 added 0.01% to 6,715, and the Nasdaq Composite fell 0.28% to 22,780. The rally was driven by strong gains in pharmaceutical stocks following President Trump's launch of a direct-to-consumer drug purchasing website.
Japan’s Nikkei 225 rose 1.9%, driven by gains in technology stocks. Other Asian markets showed mixed performance, reflecting global market trends.
Commodity Market news
| Brent Crude Oil | --- | --- | --- |
| Cotton | --- | --- | --- |
Brent crude oil futures settled at $64.53 per barrel, while U.S. West Texas Intermediate crude closed at $60.88 per barrel. Both benchmarks experienced an 8% weekly loss due to concerns about oversupply and a potential OPEC+ output hike.
OPEC+ Decision: OPEC+ agreed to increase oil production by 137,000 barrels per day starting in November 2025, matching the modest increase made in October. This decision aims to reclaim market share from competitors like U.S. shale producers.
Gold Market News
| Gold USD | --- | --- | --- |
Gold reached a record high of $3,892 per ounce, driven by strong demand amid economic uncertainties. However, risks of a pullback are increasing as resistance levels align with long-term Fibonacci targets.
Crypto
| Bitcoin | --- | --- | --- |
| Ethereum - Dollar USA | --- | --- | --- |
Bitcoin hit an all-time high of $125,689, surpassing Amazon to become the world's seventh most valuable asset. The rally was driven by strong gains in U.S. equities and increased investor interest in Bitcoin linked exchange traded funds (ETFs).
Ethereum (ETHUSD): Ethereum showed strength, with analysts predicting a potential breakout in the altcoin market. The cryptocurrency's performance is closely tied to developments in the broader digital asset space.
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