📊Daily Summary: Tech sector drives Wall Street rebound, DAX leads in Europe

Stock Markets & Market Sentiment 📈

• European equity markets closed Wednesday's session with solid gains, continuing a dynamic recovery following earlier losses. The main driver of gains on the Old Continent was Frankfurt, where the German index gained over one percent, supported by strong performance in the energy sector and optimistic comments regarding economic resilience.
• Other key markets, including the UK, France, Italy, and Spain, also closed trading in green territory amid a noticeable improvement in institutional investor sentiment.
• On Wall Street, the technology sector carried the brunt of the appreciation, allowing the Nasdaq index to dominate trading and set the tone for global sentiment. Gains were driven primarily by capital returning to artificial intelligence infrastructure, enabling the market to look past recent concerns about a more restrictive interest rate path following higher inflation readings.
• While tech indices recorded dynamic gains, traditional companies in the Dow Jones index performed much more quietly, posting only a modest appreciation.
• As of 20:15, the S&P 500 stands at 7,650, gaining 1.27% (+3.33% for the week), while the Nasdaq 100 is at 28,584, up 2.45% (+5.45% weekly). Meanwhile, the DAX reached 26,810 with a 0.78% gain (+4.1% weekly), the FTSE rose 0.44% to 10,875 (+2.02% weekly), the CAC 40 at 8,351 gained 0.24% (+2.87% weekly), and the DOW at 52,519 gained 0.29% (+2.22% weekly).

Tech Companies & Artificial Intelligence 🤖

• Company CoreWeave took center stage among investors after publishing exceptional third-quarter results and raising sales forecasts, triggering a stock rally of over 20%. CEO Michael Intrator reassured markets, stating there are no delays in data center construction plans and confirming an intact partnership with key compute infrastructure providers.
• Following a sharp sell-off, investors returned to Nvidia, noting its first clear rebound after a wave of selling sparked by board turmoil and regulatory pressure. Despite this, Baird downgraded its rating on the company to Neutral, slashing its target price to 200 USD from 500 USD, while brokerage firm Morgan Stanley removed the giant from its list of top picks. Additional risk factors include demands from John Moolenaar, Chairman of the House Select Committee on China, regarding export controls on advanced integrated circuits.
• The European highlight of the session was Siemens Energy, whose shares surged by over 10% following a financial report that soundly beat market expectations. Meanwhile, Czech defense group CSG plummeted to its lowest levels since its January debut after lowering full-year operating profitability forecasts.
• In the generative AI segment, attention is focused on the planned IPO of Anthropic, whose order book was heavily oversubscribed as investment bankers consider valuations reaching up to 1.5 trillion USD. At the same time, OpenAI reported quarterly revenue exceeding 10 billion USD for the first time in history, and Google expanded Gemini Live integration while deploying the Gemini Decisions API.
• In hardware and semiconductors, significant gains were recorded by SanDisk, Micron, and Intel, while Supermicro launched next-generation server racks powered by AMD processors. Within Meta, a leadership change was announced for 2027 in engineering infrastructure, where the current head will be replaced by an AWS executive.
• As of 20:15, Apple is at 354.73 USD, gaining 1.75% (+3.61% weekly); Nvidia shares stand at 176.01 USD, up 4.17% (-5.68% weekly); Tesla stock at 392.14 USD is up 3.26% (+9.51% weekly); Microsoft trades at 520.57 USD, down 2.38% (-1.88% weekly); Meta is at 635.52 USD, losing 0.94% (+4.18% weekly); and Google at 293.87 USD gains 2.23%, extending its weekly gain to 3.23%.

Macroeconomics & Central Banks 🏛️

• The final reading of the CPI indicator in Germany for October confirmed consumer inflation stabilization at 2.8% year-over-year, in line with preliminary estimates. The German Council of Economic Experts presented updated projections, forecasting Germany's GDP growth at 1.3% in 2026 and 1.0% the following year, pointing to the fading energy shock while warning of fiscal burdens arising from defense spending. Chancellor Friedrich Merz and the federal finance minister reassured that the country's top credit rating is in no way threatened.
• Bank of England Monetary Policy Committee member Megan Greene delivered a hawkish speech, arguing the need for proactive monetary tightening to quell persistent wage pressure in the UK. The central bank representative noted that the labor market exhibits less spare capacity than originally assumed, with wage growth remaining at an excessively high level.
• In the United States, the cash Treasury bond market was closed for Veterans Day; however, futures trading reflected ongoing pressure on yields following an earlier sharp spike driven by inflation data.
• Concurrently, reports surfaced regarding internal Federal Reserve discussions about the timing of John Williams' step-down as head of the New York Fed, casting uncertainty over the committee's balance of power in the 2027–2028 horizon.

Commodities & Raw Materials 🛢️

• Panic selling is intensifying in the cocoa market, driving futures contract prices lower due to a combination of two key market factors. First is a sharp influx of deliveries into warehouses monitored by the ICE exchange, which drastically reduces supply pressures felt by processors. Second is the annual commodity index rebalancing, under which passive funds are forced to mechanically reduce overweight positions in the commodity.
• Crude oil prices posted a clear rebound, halting a two-day correction amidst escalating military tensions in the Middle East and stalled diplomatic talks with Tehran. In its monthly report, the OPEC cartel left its global demand forecasts for 2026 and 2027 unchanged, while reporting that Saudi Arabia's output rose in October to 10.56 million barrels per day, likely signaling a return to normalcy.
• Gold faced strong selling pressure, falling below the psychological 4,000 USD per ounce barrier due to a strengthening dollar and high bond yields, while silver and copper managed to post daily gains.
• As of 20:15, gold is at 3,986 USD, down 1.14% (-2.05% weekly); silver stands at 51.78 USD, gaining 0.56% (-0.19% weekly); Brent crude is at 93.41 USD per barrel, up 1.5% (-4.44% weekly); and copper trades at 13,771 USD, gaining 0.64% daily (+0.62% weekly).

Currencies & Interest Rates 💱

• The US dollar showed mixed dynamics, gaining visibly against European and Antipodean currencies while weakening against the yen and Swiss franc. The USDJPY pair approached the 160.00 region, reacting to widening interest rate differentials following higher US inflation figures.
• European sovereign bonds closed mixed, with 10-year German Bund yields rising to 3.32% and UK Gilts to 5.23%. Meanwhile, the risk premium on French bonds over German Bunds narrowed slightly, though it remained elevated around 147 basis points.
• As of 20:15, the EURUSD pair stands at 1.1090, losing 0.66% (-0.5% weekly); GBPUSD trades at 1.3273, down 0.49% (-0.57% weekly); while USDJPY trades at 159.88, up 0.76% (+0.96% weekly).

Cryptocurrency Market 🪙

• The digital asset sector consolidated near local highs, characterized by moderate volatility and selective institutional inflows.
• The published Crypto Fear and Greed Index showed a reading of 29 points, still signaling a prevalence of caution and fear in the retail market despite stable price levels across major tokens.
• A key institutional milestone was the official launch of a licensed digital asset custody service by German banking group Deutsche Bank. The new offering provides direct custody for tokens such as Bitcoin, Ethereum, and selected stablecoins for corporate clients and investment funds, marking another step forward in the adoption of blockchain technology by traditional finance.
• As of 20:15, bitcoin stands at 74,094 USD, up 0.79% (-0.26% weekly), while ethereum trades at 2,070 USD, representing a 1.3% gain over 24 hours and a 2.51% loss over the past week.

Geopolitics & International Security 🌐

• In the Middle East, further dangerous incidents occurred, including Houthi drone attacks on pumping facilities in Saudi Arabia's Yanbu region and disruption of maritime navigation systems near the Strait of Hormuz. CENTCOM military leadership declared the continuation of maritime blockades and shipping lane security operations, while authorities in Tehran firmly rejected the possibility of transferring enriched uranium and threatened strikes against overseas US bases.
• In the United Arab Emirates, another round of trilateral diplomatic talks concluded with US, Ukrainian, and Russian delegations. Although a prisoner exchange agreement was negotiated, President Volodymyr Zelenskyy reported that Moscow categorically rejected ceasefire proposals, and Russian negotiators ruled out any territorial concessions.
• On the Washington-Beijing relations front, Chinese Foreign Minister Wang Yi held working talks with the US administration represented by Marco Rubio. Concurrently, personal clashes broke out within the White House economic team over delays in imposing further trade restrictions on Chinese tech entities.