Global Markets:
● Asian Stock Markets : Nikkei down 1.46%, Shanghai Composite up 0.10% Hang Seng up 3.01% ASX up 2.32%
● Commodities : Gold at $4,143.67 (1.73%) Silver at $53.000 (1.39%), Brent Oil at 93.77 (-0.91%), WTI Oil at 86.85 (-1.44%)
● Rates : US 10-year yield at 4.843, UK 10-year yield at 5.1368, Germany 10-year yield at 3.2866
News & Data:
● (USD) ISM Services PMI
54.5 to 54.8 expected
Markets Update:
U.S. equity futures moved higher on Wednesday evening following a strong Wall Street rally driven by falling oil prices and greater clarity surrounding the Democrats’ midterm election victories.
Dow Jones Industrial Average futures gained 90 points, or 0.2%. S&P 500 futures advanced 0.1%, while Nasdaq-100 futures were little changed.
In after-hours trading, Qualcomm shares dropped 6.5% despite reporting better-than-expected earnings. Meanwhile, AppLovin surged nearly 24% after beating earnings estimates and issuing stronger-than-expected guidance.
During Wednesday’s regular session, the Dow jumped more than 1,500 points, or 3%, marking its strongest daily performance since April 2025. The S&P 500 climbed 1.6% as West Texas Intermediate crude futures plunged more than 8% to settle at $88.12 per barrel.
Investors also reacted to the Democrats securing majorities in both chambers of Congress and winning several gubernatorial races. Vice President JD Vance attributed Republican losses partly to the Iran war.
Asian markets delivered mixed performances on Thursday. Japan’s Nikkei 225 rose 0.49%, while Australia’s ASX 200 gained 1.39%. South Korea’s Kospi declined 2.33%.
Investors will monitor weekly jobless claims on Thursday, followed by Friday’s October nonfarm payrolls report. Earnings from Tapestry, ConocoPhillips and Airbnb will also attract attention.
Upcoming Events:
● 12:30 PM GMT – GBP Official Bank Rate
● 1:30 PM GMT – USD Unemployment Claims
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