🗳️ Midterms reset the market narrative
Democrats took Congress, so policy risk is lower. Hopes of US–Iran diplomacy sent oil sharply lower, and the dollar and yields slid.
🇺🇸 Wall Street (Nov 4 close)
📈 Dow: 53,356 (+3.03%)
📈 S&P 500: 7,688.6 (+1.58%)
📈 Nasdaq: 25,736.5 (+1.44%)
🌏 Asian markets
🇭🇰 Hang Seng: 24,734 (+3.4%)
🇦🇺 ASX 200: 9,065 (+2.6%)
🇨🇳 Shanghai Composite: 3,666 (–0.5%)
🇯🇵 Nikkei 225: 61,202 (–1.6%)
🇹🇼 Taiex: –3.3%
🇰🇷 Kospi: 5,339 (–6.1%), hit by a chip selloff
💡 Hong Kong and Australia rallied. The AI and chip rout hit Seoul, Taipei and Tokyo.
💱 Currencies
💶 EUR/USD: 1.1262
💴 USD/JPY: 157.92
💵 DXY: 101.26, near one-month lows
🛢️ Oil
Brent: $93.99
WTI: $86.96
Both are down after Wednesday’s drop of about 8%.
🥇 Gold: $4,129 (+1.7%)
₿ Bitcoin: $80,476 (+3.2%)
📅 Today’s calendar (GMT)
🇳🇴 09:00 – Norges Bank (hold at 4.50% expected)
🇬🇧 12:00 – Bank of England. A hike from 3.75% to 4.00% is expected, the first in over three years.
🇺🇸 13:30 – Jobless claims (forecast ~196K) and Q3 productivity
🎤 Fed speakers: Hammack and Barkin
👀 Ahead: US Nonfarm Payrolls tomorrow, CPI on November 10.
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