Daily summary: Wall Street in full euphoria, AUD gains on hawkish RBA, gold rebound continues (10.11.2025)

U.S. index futures kicked off the new week with a strong rebound (US100: +1.9%, US500: +1.3%, US2000: +1.1%, US30: +0.5%), erasing nearly all losses from the past two sessions.

Euphoria across markets followed the U.S. Senate’s passage of a bill paving the way to end the government shutdown. A bloc of eight centrist Democrats backed the Republican proposal, which includes funding through the end of January 2026, a full-year budget for key federal agencies, and back pay for furloughed workers — in exchange for a December vote on Obamacare subsidies. The bill, however, has divided Democrats, many of whom want to block it in the House of Representatives.

Warren Buffett announced he will stop writing his annual letters to Berkshire Hathaway (BRKA.US) shareholders and speaking at the company’s annual meetings. The 95-year-old billionaire is handing leadership to Greg Abel, who will assume the CEO role on January 1, 2026. Buffett also plans to accelerate the transfer of his Berkshire shares to four family foundations.

Switzerland is negotiating a new trade deal with the U.S. that would cut tariffs on Swiss goods from 39% to 15%, according to Bloomberg. The agreement could be finalized within two weeks, though neither side has commented on the reports so far.

Optimism has also spread to Europe. The EU50 gained 1.22%, led by strong performances in Poland’s W20 (+1.95%), Spain’s SPA35 (+1.8%), and Germany’s DE40 (+1.15%).

In forex markets, the dollar is weaker against most G10 currencies, though losses remain limited as the dollar index holds steady (USDIDX: +0.03%). The Australian dollar is today’s strongest performer (AUDUSD: +0.75%, AUDJPY: +1%) following hawkish remarks from RBA’s A. Hauser, who emphasized the need for restrictive policy. The weakest currency is the Japanese yen (USDJPY: +0.2%; EURJPY: +0.3%). EURUSD remains flat near 1.156.

Brent and WTI crude are both up around 0.25%, continuing a streak of low-volatility sessions, while NATGAS futures trade flat after early gains.

Precious metals are off to a bullish start to the week despite stronger risk appetite in equities: gold is up 2.55% to $4,106 per ounce, and silver rises 4.1% to $50.43 per ounce.