Equities Rebound Following Technology Sell-Off: Asian stocks and US equity futures advanced as risk appetite stabilised following last week’s technology-led sell-off. The KOSPI and Hang Seng gained, while S&P 500 and Nasdaq 100 futures both rose 0.5%. The rebound followed a 3.5% decline in the Nasdaq 100 on Friday, its worst session since June, as disappointing earnings unsettled investors. The VIX has since fallen 18.6% after reaching its highest intraday level since April.
Oil Falls as Trump Gives Iran Diplomacy More Time: Lower oil prices also supported market sentiment, with Brent crude falling 3% following reports that President Trump intends to give diplomacy with Iran more time before potentially resuming strikes after Tuesday’s midterm elections. Polymarket is pricing a 95% probability of Democrats winning the House and a 73% probability of the party taking the Senate.
Bitcoin and Gold Recover: Bitcoin advanced for a third consecutive session following last week’s Binance hack, while gold recovered from its lowest closing level in more than a year. Binance has pledged to cover the losses using its own funds and said on Sunday that it had replenished approximately 95% of the affected assets.
US Midterms and Bank of England Decision in Focus: Several major events are expected to shape markets this week, including Tuesday’s US midterm elections, Thursday’s Bank of England interest-rate decision and Friday’s nonfarm payrolls report.
Economic Calendar
- US Midterm Elections
- Bank of England Interest-Rate Decision
- US Nonfarm Payrolls
Key Market Moves Today
- S&P 500 Futures: +0.40% (7,644)
- Crude Oil: -3.55% ($100.42)
- Spot Gold: +0.49% ($3,895)
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