🤖 Nvidia shock hits the AI trade
Reports that Nvidia’s board is weighing the ouster of CEO Jensen Huang sent the stock down about 8% after hours. This follows a strong Wall Street rebound: S&P 500 +1.3% to 7,619, Nasdaq +1.6% to 25,466, Dow +0.5% to 52,486. Nvidia reports earnings on Nov 17 📊
🏦 Fed hike bets firm up
October CPI came in hot: headline +0.4% m/m and core +0.3%, both above forecasts. A December hike looks nearly certain 📈 The US 10-year yield is at 4.99% and the 2-year at 4.77%.
🌏 Asian markets turn lower
🇯🇵 Nikkei ~60,850 (–0.6%). USD/JPY is at 159.8, just under 160 💴 Japan’s October PPI rose 7.1% y/y vs 6.5% expected, supporting BoJ hike bets
🇭🇰 Hang Seng ~24,060 (–1.1%)
🇨🇳 Shanghai Composite ~3,662 (–0.5%)
🇰🇷 Kospi ~5,369 (–0.1%)
🇹🇼 Taiwan Weighted –2.8%
🇦🇺 ASX 200 ~9,147 (–0.1%)
💱 Forex, commodities and crypto
💶 EUR/USD 1.1077 (–0.1%)
🥇 Gold ~$3,985, below $4,000
🥈 Silver ~$51.55 (–0.9%)
🛢️ Brent ~$92.55 | WTI ~$86.30
₿ Bitcoin ~$73,700 | Ξ Ethereum ~$2,050
📅 Today
🇺🇸 US jobless claims at 13:30 GMT. US PPI follows tomorrow 👀
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