01｜U.S. Manufacturing Beats Expectations
The U.S. ISM Manufacturing PMI rose to 55.5 in October, significantly above expectations. Manufacturing remains resilient, but price pressures have not fully subsided.
02｜U.S. Stocks Fail to Rebound
The S&P 500 fell 0.51%, the Nasdaq dropped 1.07%, and the Dow rose 0.41%. Tech stocks remained under pressure, with a clear divergence across the market.
03｜AI Chip Stocks See Wave of Selling
Marvell fell about 13%, Intel dropped 8.8%, and AMD slid 7.5%. Investors are taking a closer look at returns on AI investments and financing costs.
04｜Apple Earnings Beat Expectations
Apple reported quarterly revenue of $114.48 billion and earnings per share of $2.10, both above expectations. However, the strong results did not fully ease market concerns.
05｜Rising memory chip prices squeeze Apple’s margins
Apple expects its gross margin to fall to 45%–46% next quarter and specifically cited rising memory costs. The divergence in profits across the memory supply chain warrants attention.
06｜Palantir revenue surges 96%
Palantir reported third-quarter revenue of about $2.31 billion and raised its full-year guidance again. However, the value of commercial contracts is growing more slowly, and valuation concerns persist.
07｜Anthropic discloses massive compute commitments
Anthropic updated its IPO filing, disclosing about $895.4 billion in future commitments related to computing capacity. The AI industry’s funding needs and return timelines are in focus.
08｜Brent crude plunges 7.63%
Brent settled at $104.77 per barrel, while WTI fell to $96.46. The market is reducing some of the risk premium associated with the Middle East war.
09｜New progress in US-Iran diplomacy
Iran’s president said the government had received some authorization to negotiate, while Qatari mediators continued to facilitate communication. No formal peace agreement has been reached, and oil price volatility risks remain high.
10｜Gold and silver rebound
COMEX nearby gold rose 1.83% to $3,956.90 per ounce, while silver gained about 3.3%. The pullback in oil prices eased some inflation concerns.
11｜US LNG exports near record levels
LSEG data showed that US LNG exports in October were the second-highest on record, with European demand rising significantly. Winter energy supplies remain a key focus.
12｜South Korea’s latest CPI falls to 2.8%
South Korea’s annual inflation rate fell from 2.9% to 2.8% in October but remained above the central bank’s target. Expectations of future rate hikes have not faded.
13｜North Korea denies involvement in Binance theft
North Korean state media issued a statement denying FBI allegations that organizations linked to the country were involved in a major Binance theft. The investigation and asset tracing are ongoing.
14｜Legal disputes intensify ahead of US midterm elections
The US Supreme Court rejected the government’s emergency request concerning disputed mail-in ballots in California. The election outcome and policy outlook remain uncertain.
15｜New arrangements for Russia-Ukraine-US talks
The United States announced plans to organize trilateral talks involving Russia, Ukraine, and the US in Abu Dhabi on November 10–11. The meeting has yet to take place, and a ceasefire has not been reached.
【Market Overview】
Global assets showed mixed performance overnight: the Dow rose 0.41%, the S&P 500 fell 0.51%, and the Nasdaq fell 1.07%; Brent crude settled down 7.63%, while gold futures rebounded 1.83%. US manufacturing continued to expand, but valuation and financing pressures among AI technology stocks remained evident. Apple and Palantir reported strong revenue while signaling varying degrees of risk around costs and contract growth. Crypto markets remain focused on the Binance security incident, exchange reserves, and ETF fund flows.