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In the wake of a US military strike on Qeshm Island, oil prices have seen a modest increase. This development raises alarms about potential conflict escalation, even as diplomatic dialogues persist. Both the US and Iran appear willing to engage in negotiations again, despite the failure of earlier talks. This situation continues to strain global energy supplies, particularly through the strategic Strait of Hormuz.
Stock market recommendations: Adani Green, DLF, Hindalco, and BPCL are the top stocks to buy today as per recommendations by Somil Mehta, Head of Retail Research, Mirae Asset ShareKhan for November 3, 2026.
Anthropic's financial results showed a dramatic revenue increase of 1,127% to $17 billion during the September quarter. Unfortunately, the company also reported hefty operational losses of $567 million, largely due to soaring computing costs. As a result, net losses climbed to $23.3 billion for the quarter and an alarming $104 billion year-to-date. With plans for a stock market offering, Anthropic faces pressing demands for computing resources.
During the early trading hours, the Indian rupee saw an increase of 12 paise to reach 94.72 against the US dollar, driven by lower crude oil prices at $104.76 per barrel. Continuous investments from Foreign Institutional Investors provided additional backing for the currency. However, the stronger US dollar ahead of the midterm elections capped the gains.
Gold price prediction today: Spot gold prices, following a steep decline of over 3% in the week ending October 30, rose sharply on November 2 as crude oil prices slumped nearly 7% on hopes for resumption of peace talks between Iran and the US. Overall, gold's upside is likely to remain constrained unless prices decisively breach the 4,030-4,066 resistance zone. Supports are seen at 3,900/3,875/3,800/3,750.