- Equity markets decline ahead of monthly options expiration
- Dollar and bond yields edge higher
- Precious metals and cryptocurrencies lose ground
- Trump points to āgoodwillā in talks with China
- Equity markets decline ahead of monthly options expiration
- Dollar and bond yields edge higher
- Precious metals and cryptocurrencies lose ground
- Trump points to āgoodwillā in talks with China
- The VIX volatility index is down nearly 10% as U.S. equities attempt to recover from recent losses. US100, US500, and US30 futures are posting modest gains, while Zions Bancorp shares are up more than 3%, gradually rebounding from yesterday’s selloff following an upgrade from Baird and optimistic comments from Raymond James. Moody’s stated that the U.S. financial sector is unlikely to face a repeat of the 2008 crisis, although the number of bad loans continues to rise.
- Market sentiment was further supported by Donald Trump’s remarks, suggesting he may extend the trade deal deadline with China beyond November 1. Trump said he intends to hold talks with Xi Jinping, taking into account the interests of both economies, and will seek a mutually beneficial trade agreement. He also noted interest in Ukrainian drone technology, adding that allowing Ukraine to strike deep into Russia would represent an escalation. The U.S. president said he would speak with Volodymyr Zelensky before meeting Vladimir Putin in Budapest. Meanwhile, China’s Ministry of Defense warned the United States against dangerous attempts to arm Taiwan.
- A Kremlin envoy has invited Elon Musk and his company The Boring Company to take part in building a $65 billion undersea rail tunnel connecting Russia and Alaska. Kirill Dmitriev proposed naming it the “Putin–Trump Tunnel.” According to Kremlin estimates, Musk’s technology could reduce construction costs to $8 billion and complete the project within eight years. The proposal reportedly emerged following a Putin–Trump conversation on Ukraine, with further negotiations planned in Budapest.
- The WTO chief said he had spoken with China and emphasized that the U.S. will push for de-escalation of trade tensions, urging both sides to act with caution. According to estimates, a full economic decoupling between the U.S. and China would fragment global trade and could reduce global GDP by up to 7% in the long term.
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