๐ Global Markets Summary: November 3, 2025
Overall, markets were mixed, with US equities strong on tech earnings and a significant US-China trade development, while other regions saw varied performance.
๐ Equities
* US Markets: Rallied, buoyed by Amazon's strong results (particularly in AWS cloud business) and sustained optimism surrounding Artificial Intelligence (AI).
* Eurozone: Indices paused after a strong prior month.
* Asia: Performance was mixed.
* Japan's Nikkei 225 hit new records in the preceding week, though markets were closed on Nov 3rd for Culture Day.
* China/Hong Kong markets were down slightly on profit-taking, but saw a morning boost on ongoing relief over a new US-China trade pact.
* India's Nifty50 and Sensex opened lower, tracking weak global cues.
๐ฐ Fixed Income & Currencies
* Sovereign Yields: Broadly stable, with curves steepening slightly. US short-term yields declined despite hawkish commentary from the Federal Reserve.
* Currencies: The US Dollar (USD) strengthened modestly against the Euro (EUR) on Fed hawkishness.
* Gold: Retreated as the dollar strengthened and expectations for near-term Fed rate cuts eased following Chair Powell's comments. Gold remains above $4,000/oz.
โฝ Commodities
* Oil Prices: Rose in a choppy session. OPEC+ announced a pause in planned output hikes for Q1 2026, which eased concerns about a crude glut and supported prices. Prices also saw volatility amid geopolitical tensions in Venezuela.
* Wheat/Grains: Wheat rallied strongly due to renewed Chinese buying interest and technical factors.
๐ฐ Key Economic & Corporate News
* US-China Trade Truce: A significant headline was the new one-year US-China trade pact agreed over the weekend. China will lift export controls on rare earths and end probes into US semiconductor firms, while the US will pause certain tariffs and cancel a planned levy.
* US Economic Data: The Chicago PMI Business Barometer rose to 43.8, signaling the mildest contraction in three months, though still below 50.
* Eurozone Inflation: October CPI came broadly in line with expectations, though core inflation was slightly higher than anticipated.
* Japan Inflation: Tokyo core CPI accelerated, primarily due to food prices, maintaining pressure on the Bank of Japan (BoJ) to tighten policy.
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- AdamDavisยท11-04What a detailed and insightful summary! [Great]LikeReport