Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
U.S. Stock Markets Rally on Amazon's Earnings
On Friday, U.S. stock indexes experienced a notable uptick, driven primarily by Amazon.com, which saw a 6.2% increase in shares following robust earnings that exceeded expectations. The positive momentum from Amazon helped mitigate losses in other tech stocks, notably Apple, which declined by 1.2% due to a conservative growth outlook.
Treasury Yields Rise Amid Economic Concerns
As stock markets rallied, 10-year Treasury yields reached a four-month high of 4.361%, up 7.7 basis points. This rise comes after a disappointing U.S. jobs report revealed minimal job growth in October, affected by industrial strikes and hurricanes. However, the unemployment rate remained steady at 4.1%, suggesting stability in the labor market.
Political Uncertainty Influences Investor Sentiment
With only four days until the U.S. presidential election, polls indicate a tight race between Republican Donald Trump and Democratic Vice President Kamala Harris. Strategists warn of a deteriorating fiscal trajectory regardless of the election outcome.
Global Market Trends
In global markets, MSCI's index rose by 0.34% as European stocks marked their largest single-day gain in five weeks, with the STOXX 600 climbing 1.09%. The dollar strengthened against the euro, trading at $1.084, while Bitcoin saw a slight increase of 0.57% to $69,531.
Conclusion
In summary, U.S. stock markets benefited from Amazon's strong performance, while Treasury yields climbed amid mixed economic signals. The upcoming election remains a critical focus for investors as they navigate these market fluctuations.
