Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
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Wall Street ended higher on Friday as investors digested U.S. President Donald Trump’s latest comments on China and encouraging earnings from regional banks helped ease concerns over credit risks. Trump acknowledged that his proposed 100% tariffs on Chinese goods would be unsustainable but continued to blame Beijing for stalled trade talks, following China’s move to tighten control over rare earth exports. The tariffs and new export restrictions on critical software are set to take effect on November 1.
Market sentiment improved after a turbulent week for financial stocks. Regional bank shares rebounded sharply following Thursday’s selloff triggered by Zions Bancorporation’s loan losses and Western Alliance’s lawsuit involving Cantor Group V, LLC. Analysts suggested fears over credit quality were overstated, with most banks showing strong fundamentals. Truist Financial gained 3.7% after reporting higher third-quarter profits, while Zions climbed 5.8%, Western Alliance rose 3.1%, and Fifth Third Bancorp added 1.3%.
The S&P Composite 1500 Regional Banks Index advanced 1.8% after a 6% drop the previous day, while the broader S&P 500 financial sector index gained 0.8%. Solid results from JPMorgan and other large banks boosted overall optimism for the third-quarter earnings season. Analysts now expect S&P 500 earnings to grow 9.3%, up from 8.8% earlier in October, according to LSEG I/B/E/S data.
The S&P 500 rose 0.53% to 6,664.01, the Nasdaq gained 0.52% to 22,679.98, and the Dow Jones Industrial Average climbed 0.52% to 46,190.61. Nine of the 11 major S&P sectors advanced, led by consumer staples, up 1.23%. For the week, the S&P 500 rose 1.7%, the Nasdaq 2.1%, and the Dow 1.6%. Market volatility eased, with the CBOE VIX dropping to 21.5 points. Tesla gained 2.5%, Apple rose 2%, and Amazon slipped 0.7%. Eli Lilly fell 2% after Trump vowed to lower weight-loss drug prices, while State Street declined 1.4% on weaker net interest income.
