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02:02:55

[Fed Cuts Rates by 25 Basis Points] The Federal Reserve decided to cut its benchmark interest rate by 25 basis points to a range of 3.75%-4.00%, marking the second consecutive rate cut this year, bringing the total year-to-date reduction to 50 basis points.

02:02:15

The yield on the 10-year US Treasury note rose 1.23% intraday to 4.025%.

02:02:15

Spot gold has just broken through the $4,000.00/ounce mark, last trading at $4,000.19/ounce, up 1.21% on the day; COMEX gold futures are last trading at $4,012.70/ounce, up 0.74% on the day.

02:01:24

Spot gold has just broken through the $3,980.00/ounce mark, and is currently trading at $3,979.79/ounce, up 0.69% on the day; COMEX gold futures are currently trading at $3,993.30/ounce, up 0.26% on the day.

02:00:24

Spot platinum has just broken through the $1590.00/ounce mark, last trading at $1588.57/ounce, up 1.11% on the day; Nymex platinum futures are last trading at $1592.5/ounce, up 0.49% on the day.

01:51:06

U.S. Health Secretary Kennedy commented on Tylenol: There is not enough evidence to definitively say that Tylenol causes autism, but some studies seem to be “very telling.”

01:50:49

Michelle, global head of fixed income at JPMorgan Chase: Tariffs are no longer a significant issue for businesses.

01:50:13

The White House announced that Korean Air will purchase 103 new Boeing aircraft for a total of $36.2 billion, a move that will create up to 135,000 jobs across the United States. To power these new aircraft, Korean Air will also purchase state-of-the-art General Electric aircraft engines in a separate deal worth $13.7 billion.

01:46:19

The Airbus CEO stated that the A220 production adjustments are related to planned integration with Spirit Aero, and that some airlines are awaiting an upgraded version of the GTF engine.

01:45:46

The CEO of Airbus stated that supply chain challenges remain, particularly regarding engines.

01:45:46

The CEO of Airbus said that Airbus has 32 assembled aircraft awaiting engines.

01:45:45

The CEO of Airbus said that aircraft deliveries this year are still concentrated in the later stages, in fact, very concentrated in the later stages.

01:44:55

JPMorgan Global Head of Fixed Income, Michelle: The Fed sees this (rate cut) as a risk management measure.

01:44:44

JPMorgan's global head of fixed income, Michelle, expects the Federal Reserve to cut interest rates by 25 basis points and end quantitative tightening.

01:44:26

The Congressional Budget Office (CBO) says the Trump administration shutdown has already cost the U.S. economy $18 billion by 2025.

01:44:24

The FDA commissioner said further changes to animal drug testing requirements could be announced as early as next week.

01:44:23

Michelle, Global Head of Fixed Income at JPMorgan Chase: The allocation to fixed income assets in the overall market is low.

01:44:22

The FDA Commissioner stated that it will take three to six months to issue final guidance on biosimilars.

01:43:35

Gold and silver experienced a normal corrective rebound. Details>

01:30:21

Spot platinum has just broken through the $1590.00/ounce mark, last trading at $1589.70/ounce, up 1.18% on the day; Nymex platinum futures main contract was last trading at $1594.3/ounce, up 0.60% on the day.

01:28:38

FDA Commissioner Markari: The proposed new approval process for biosimilars could cut approval times in half.

01:23:58

Sources say Germany is considering nationalizing Rosneft's local operations as a backup plan.

01:22:50

The Dow Jones Industrial Average has just broken through the 47,900.00 mark, currently trading at 47,899.31, up 0.40% on the day.

01:11:13

The U.S. Food and Drug Administration (FDA) has issued new guidelines that lower the "resource-intensive" requirements for developers to conduct comparative human clinical trials.

01:09:47

The U.S. Food and Drug Administration (FDA) plans to make it easier to develop biosimilars into products that are interchangeable with branded biologics through another initiative.

01:09:23

The U.S. Food and Drug Administration (FDA) has proposed major updates in a new draft guidance document to streamline biosimilar similarity studies and reduce unnecessary clinical trials.

01:05:38

Spot gold has just broken through the $3,990.00/ounce mark, and is currently trading at $3,989.60/ounce, up 0.94% on the day; COMEX gold futures are currently trading at $4,004.80/ounce, up 0.54% on the day.

01:00:33

[Night Trading Futures Closing] International copper futures closed up 1.49%, Shanghai copper futures closed up 1.23%, Shanghai aluminum futures closed up 0.28%, Shanghai zinc futures closed up 0.27%, Shanghai lead futures closed flat, Shanghai nickel futures closed up 0.36%, and Shanghai tin futures closed down 0.29%. Alumina futures closed up 0.70%, aluminum alloy futures closed up 0.43%, and stainless steel futures closed up 0.27%.

00:34:10

[FGE: Sanctions Won't Deprive Russian Oil of Major Buyers, But Trade Friction Expected in the Next 6-8 Weeks] Consulting firm FGE NexantECA stated in a report on Monday that major countries currently importing Russian crude oil and refined products are likely to continue purchasing, provided they can obtain documentation proving that the purchased crude oil does not originate from Lukoil or Rosneft. FGE predicts "serious trade friction" in the next 6-8 weeks, as current buyers of crude oil and refined products from Rosneft and Lukoil will have to find alternative sources. Up to 1 million barrels per day of crude oil may be stranded in November and December, struggling to find buyers. While sanctions against Rosneft and Lukoil "significantly increase uncertainty" in the short term, FGE stated that once these restricted oil products find alternative shipping routes and new markets, the support for oil prices is expected to weaken in 6-8 weeks.

00:33:50

General Motors announced that it will lay off approximately 5,500 employees at its electric vehicle and battery plants in the United States.

00:33:39

[US to Reduce Troops on NATO's Eastern Flanking, Emphasizing Unwavering Commitment to Europe] As the Trump administration reassesses its military deployments in Europe, the United States will reduce its troop presence in some countries on NATO's eastern flank. "This is not a withdrawal of U.S. troops from Europe, nor is it a sign of weakening our commitment to NATO and the Fifth Article," the U.S. Army said in a statement Wednesday. "Instead, it is a positive sign of increased capabilities and responsibilities in Europe," the statement read. "This troop deployment adjustment will not alter the security environment in Europe." The withdrawal involves a small portion of the approximately 85,000 U.S. troops stationed in Europe. The statement said the 2nd Infantry Brigade Combat Team of the 101st Airborne Division will return to its base in Kentucky.

00:33:14

Most major European stock indices closed lower. The Stoxx Europe 600 index fell 0.1%, the Stoxx Europe 600 index fell 0.08%, and the Eurozone blue-chip index fell 0.02%. The French CAC 40 index fell 0.22%, the Spanish IBEX index rose 0.36%, the UK FTSE 100 index rose 0.6%, and the German DAX index fell 0.64%.

00:32:23

One chart: The Baltic Dry Index rises, boosted by stronger Capesize freight rates. Details>

00:24:21

Silver Forecast: The upside target is the $50.02-$51.07 range; Powell's remarks will dominate subsequent price movements. Details>

00:20:24

The Dow Jones Industrial Average has just broken through the 48,000.00 mark, currently trading at 48,001.84, up 0.62% on the day.

00:17:33

Nymex crude oil futures for the most active contract have just broken through the $61.00/barrel mark, currently trading at $61.02/barrel, up 1.45% on the day.

00:12:45

[US House Staff Salaries Suspended Due to Government Shutdown] On October 29, local time, US House staff received notices that they would not be able to receive their salaries, which were due on October 31. The notice stated: "Due to the funding interruption, the Office of the Administrator is not authorized to pay salaries until Congress passes a temporary funding resolution or the 2026 fiscal year appropriations bill and signs it into force." Unlike Senate staff who receive salaries twice a month, House staff receive salaries once a month, making them more directly affected.

00:02:36

According to the Russian Federal State Statistics Service, Russian corporate profits fell 8.3% year-on-year to 17.6 trillion rubles in the first eight months of the year.

00:02:36

Russia's Ministry of Economy reported that the country's GDP grew by 0.9% year-on-year in September, compared with a 0.4% increase in August.

00:02:36

Russia's Ministry of Economy reported that as of October 27, the annual consumer inflation rate was 8.13%, compared with 8.14% a week earlier.

00:02:36

Russia's Ministry of Economy: GDP grew by 1.0% year-on-year in the first nine months of the year.

00:02:33

According to the Russian Federal State Statistics Service, Russia's weekly consumer inflation rate was 0.16% for the week ending October 27, compared with 0.22% the previous week.

00:02:32

Russian Federal State Statistics Service: Real disposable income increased by 8.5% year-on-year in the third quarter.

23:55:30

The USD/CNH exchange rate has just broken through the 7.0900 mark, currently trading at 7.0899, down 0.07% on the day; the USD/CNH exchange rate is currently trading at 7.0979, down 0.04% on the day.

23:53:44

OpenAI Releases New Security Inference Models gpt-oss-safeguard Today, OpenAI officially released two new open-source security inference models, gpt-oss-safeguard-120b and gpt-oss-safeguard-20b.

23:51:49

Spot gold has just broken through the $3,990.00/ounce mark, and is currently trading at $3,989.82/ounce, up 0.94% on the day; COMEX gold futures are currently trading at $4,004.50/ounce, up 0.54% on the day.

23:51:38

Spot platinum has just broken through the $1590.00/ounce mark, last trading at $1589.95/ounce, up 1.20% on the day; Nymex platinum futures are last trading at $1596.4/ounce, up 0.73% on the day.

23:47:19

The Central Bank of Tajikistan set the key refinancing rate at 7.50%.

23:46:47

Spot gold has just broken through the $4,000.00/ounce mark, last trading at $3,999.92/ounce, up 1.20% on the day; COMEX gold futures are last trading at $4,015.00/ounce, up 0.80% on the day.

23:41:47

The New Zealand dollar just touched the 0.5800 level against the US dollar, last trading at 0.5800, up 0.35% on the day.

23:34:21

[Canadian Chamber of Commerce: Bank of Canada's Rate Cut Indicates Persistent Economic Concerns Amidst accumulating Tariffs] Andrew DeCapoua, an economist at the Canadian Chamber of Commerce, stated that a 2.25% policy rate is not readily attainable in the current environment. "The Bank of Canada's rate cut indicates that economic concerns persist as tariffs continue to accumulate," he noted. He pointed out that the balance between risks to inflation and growth in Canada remains unclear, therefore, given the persistent overcapacity in the economy, further reductions in the policy rate are necessary. DeCapoua added that with the market awaiting the Federal Reserve's policy decision, the stimulus signals released so far are unlikely to change the direction of monetary policy this year.

23:33:17

[Capital Economics: Bank of Canada Will Be Forced to Cut Rates Another 0.5 Percent Next Year] Stephen Brown of Capital Economics stated that after another 25 percentage point cut, bringing the policy rate down to 2.25%, the Bank of Canada undoubtedly indicates that it is likely to maintain the current rate. While the economist still believes the Bank of Canada will eventually be forced to cut rates again by 0.5 percentage points next year, he pointed out that the Bank of Canada stated that the current policy rate level is roughly appropriate, keeping inflation around 2% while helping the economy through the structural adjustment period. Brown stated that he has consistently believed that once the policy rate reaches the lower limit of the central bank's previously projected neutral range (i.e., the current level), the threshold for further rate cuts will be higher.

23:32:25

[The Bank of Canada has signaled that the threshold for future rate cuts is high] Royce Mendes of Desjardins stated, "The Bank of Canada has signaled that the threshold for future rate cuts is high, not because policymakers believe the Canadian economy will recover quickly, but because monetary policy has limited effectiveness in supporting the economy facing a difficult transition." The economist still believes the risks to the economy and inflation are tilted to the downside, but Desjardins' base case no longer assumes the Bank of Canada will further lower policy rates. Mendes noted that Canadian government bond yields rose after the rate cut announcement, but he said the rate cut appears to be limited by economic uncertainty.

23:31:28

[Bank of England Monetary and Credit Report Shows Strong Consumer Demand] Andrew Wishart of Berenberg Bank noted in a report that the Bank of England's monetary and credit report showed increases in both net mortgage borrowing and net mortgage approvals in September, indicating continued strong consumer demand. He stated that the data shows the central bank's monetary policy has failed to curb demand or reduce inflation to its 2% target. However, Wishart believes the upcoming budget, to be announced on November 26, may tighten fiscal policy to curb inflationary pressures. He indicated that if the budget shows "previous fiscal tightening," the Bank of England may cut interest rates three times in the first half of 2026.

23:30:40

[Vontobel: Emerging Market Bonds Should Be Included in Fixed Income Portfolios] Vontobel's Pascal Koeppel suggests that emerging market bonds should be included in fixed income portfolios because developing economies often benefit from a weaker dollar and lower US interest rates. He notes, "Holding a small amount of government bonds, corporate bonds, and emerging market bonds in a bond portfolio is a good strategy." Vontobel's wealthy clients still prefer to invest a significant portion of their funds in short-term investments. Koeppel advises them to appropriately extend their duration to lock in yields that are bound to decline in the near term. He cites the experience of Switzerland as an example, pointing out that Switzerland's relatively high yields quickly fell to zero or even lower. "We recommend shifting some cash positions."

23:29:24

[Unless a severe recession or major liquidity event occurs, 2% is likely the bottom for Canadian interest rates] Geoff Phipps of Picton Investments points out that after the Bank of Canada cut its overnight rate by 0.25 percentage points, the market currently has low expectations for further rate cuts in December and January. The portfolio manager stated that he expects the central bank to lower the policy rate from the current 2.25% to around 2%, and unless a severe recession or major liquidity event occurs, 2% is likely the bottom for interest rates. Phipps notes that the Bank of Canada continues to emphasize the contradictory inflationary pressures between tariffs and trade restructuring, as well as oversupply and weak economic growth, but the central bank has also stated that monetary policy cannot offset the effects of tariffs or other structural changes.

23:28:21

[Oxford Economics: This Rate Cut by the Bank of Canada Is Likely the Last in This Cycle] Tony Stillow and Michael Davenport of Oxford Economics stated that when deciding to cut policy rates again, the Bank of Canada did not focus on the strong headline inflation and employment data in September, but rather on the trends of underlying inflation slowdown, a weak labor market, and sluggish economic growth. They believe this is likely the last rate cut in this cycle, but if the economic or labor market weakness exceeds expectations, the central bank may cut rates further in smaller increments. "Given the persistent uncertainty surrounding trade policy, the continued upward risk of inflation from the trade war, and the fact that the federal government's upcoming large-scale fiscal stimulus measures will play a major supporting role in the economy, we believe the central bank will not cut rates significantly below the 2% stimulus range."

23:25:43

[Bank of Canada's Rate Cut and Tightening Stance Provide Some Support for the Canadian Dollar] TD Securities strategists stated that the Bank of Canada's latest rate cut was in line with market expectations, but the central bank's guidance leaned more towards tightening, indicating that a new shock is needed before further easing. They believe that 2.25% will be the end of this rate-cutting cycle. This guidance is somewhat positive for the Canadian dollar, and TD Securities predicts that the Canadian dollar will move towards US$1.38 as the outlook stabilizes and federal fiscal stimulus measures are implemented. However, these strategists stated that for the Canadian dollar to see a meaningful rebound and fall below US$1.36, a large-scale fiscal package or resolution of some trade uncertainties surrounding the USMCA (United States-Mexico-Canada Agreement) would be necessary.

23:23:51

[This rate cut by the Bank of Canada may be the last for now] Robert Kavcic of BMO believes that the Bank of Canada's easing policy may have temporarily come to an end after it cut its policy rate by 25 basis points, as widely expected by the market. The economist stated that the central bank seems to believe that its easing policies to date will provide support, inflation is steadily returning to 2%, and the effectiveness of monetary policy is somewhat limited in the unique economic environment. That said, Kavcic noted that the continued weakness in the labor market leaves room for some further support, and another 25 basis point rate cut is still possible in early 2026.

23:20:51

[US Announces New Round of Sanctions Against Russia, Targeting Two Oil Companies] On October 29, local time, the United States announced a new round of sanctions against Russia, focusing on the two major Russian oil giants—Lukoil and Rosneft. These two companies and 34 of their subsidiaries were added to the sanctions list, covering oil and gas exploration, extraction, and development. US citizens and businesses are prohibited from engaging in transactions with them, and entities holding more than 50% of their shares are automatically restricted. This round of sanctions echoes the sanctions announced by the UK on October 15 and the EU on October 23, the latter including a ban on short-term contract imports of Russian liquefied natural gas starting in April 2026, and a full long-term ban starting in 2027.

23:17:48

Market News: Boeing is facing difficulties due to issues with its 787 Dreamliner seat supplier.

23:17:29

The Piëch family of Porsche is considering investing in Volkswagen's diesel business.

23:16:28

Boeing's CEO stated that the company is currently producing eight 787 aircraft per month and plans to increase monthly production to ten sometime next year.

23:14:45

The press conference by Bank of Canada Governor Macklem has concluded.

23:14:43

Bank of Canada Governor Macklem said that we may see two quarters of negative economic growth, but this is not what we predicted.

23:14:42

Bank of Canada Deputy Governor Rogers stated that there are significant regional differences in the Canadian housing market.

23:14:41

Bank of Canada Deputy Governor Rogers confirmed that the bank will resume purchasing government bonds in the fourth quarter.

23:14:40

Bank of Canada Governor Macklem said that stock valuations appear too high based on several metrics.

23:14:39

Bank of Canada Governor Macklem said that major changes in our outlook will not be based on just one month's data.

23:06:41

[Senior Senators Warn: Allowing Trump's Proposed Inclusion of Private Equity in 401(k) Plans Could Cause Millions of Americans to Suffer Losses] Democratic Senator Elizabeth Warren and Independent Senator Bernie Sanders have reportedly stated that Trump's move to allow private equity and cryptocurrencies to constitute a larger proportion of the portfolios of ordinary retirees could result in financial losses for millions of Americans. In their letter, Warren and Sanders stated, "This executive order exposes these hard-earned savings to highly volatile financial instruments while attempting to repackage them as 'alternative assets,' which in reality lack transparency and whose claims of high returns are exaggerated." Democratic Senators Ron Wyden, Dick Durbin, Jeffrey Merkley, Chris Murphy, and Tina Smith also signed the letter.

22:53:10

Market news: General Motors will lay off 1,200 workers at its Detroit electric vehicle plant and hundreds more at its battery plants in Tennessee and Ohio.

22:50:52

The Bank of Canada stated that the Canadian dollar's performance was in line with its usual and expected trends.

22:50:40

The Dow Jones Industrial Average has just broken through the 47,900.00 mark, currently trading at 47,899.66, up 0.41% on the day.

22:50:19

International Air Transport Association (IATA): Capacity, which can be measured in freight ton-kilometers (ACTK), increased by 3.0% compared to September 2024.

22:49:49

Nymex crude oil futures for the most active contract rose 1.01% to $60.76 per barrel on the day.

22:48:39

Bank of Canada Governor Macklem said monetary policy is providing some stimulus.

22:48:23

Bank of Canada Governor Macklem stated, "Our work is never-ending, and the economy is constantly evolving."

22:48:21

Bank of Canada Governor: Trade conflict has “destroyed” part of the Canadian economy’s capacity.

22:42:08

Spot gold has just broken through the $4,010.00/ounce mark, and is currently trading at $4,009.17/ounce, up 1.43% on the day; COMEX gold futures are currently trading at $4,023.30/ounce, up 1.01% on the day.

22:42:05

Mexican President: Disagrees with the U.S. decision to cut flight routes.

22:40:55

[Wang Xiaohong Holds Video Call with Myanmar's Home Minister Tun Tun Nan] State Councilor and Minister of Public Security Wang Xiaohong held a video call with Myanmar's Home Minister Tun Tun Nan on the 29th. Wang Xiaohong stated that the fruitful results achieved in China-Myanmar cooperation in combating telecom and online fraud are a true reflection of the high level of cooperation between the two sides. China is willing to work with Myanmar to implement the important consensus reached by the leaders of the two countries, deepen law enforcement and security cooperation in areas such as mechanisms and capabilities, closely monitor new trends in fraud-related crimes in key areas, continuously and efficiently carry out joint crackdowns, resolutely eradicate the breeding ground for crime, and jointly safeguard the security and peace of the people of both countries. Tun Tun Nan stated that Myanmar attaches great importance to China's concerns and will further take effective measures to severely crack down on crimes such as telecom and online fraud. (Xinhua)

22:38:22

Syrian leader: We are in negotiations with Kuwait, Bahrain, Jordan, and Türkiye regarding investment in Syria. I believe today presents a historic opportunity for investors to enter Syria.

22:36:43

Data from the U.S. Energy Information Administration (EIA) showed that U.S. oil and fuel inventories fell more than expected last week, and benchmark crude oil prices continued to rise.

22:36:30

U.S. gasoline and ultra-low sulfur diesel futures extended their gains after data from the U.S. Energy Information Administration (EIA) showed a larger-than-expected drop in gasoline and ultra-low sulfur diesel inventories.

22:31:49

U.S. EIA crude oil inventories fell by 6.858 million barrels in the week ending October 24, compared with an expected decrease of 211,000 barrels and a previous decrease of 961,000 barrels.