Market Minutes

Read snapshots of the latest market news

Nvidia outperforms in Q3; US jobs data

Nvidia reported third-quarter results that comfortably exceeded market expectations for both revenue and earnings per share, reinforcing its leadership in semiconductors and AI compute. At the same time, revised US labour-market data for September were mixed: non-farm payrolls were revised higher, yet the unemployment rate rose above consensus.

Fed minutes reveal splits; odds of rate cuts decline

Minutes of the Federal Open Market Committee revealed a clear division among policymakers, prompting markets to scale back expectations of near-term easing and driving a notable appreciation of the dollar. At the same time, consumer-price inflation in the United Kingdom and euro-area slowed modestly, and oil prices fell despite a larger-than-expected weekly drop in US crude inventories.

Euro stocks fall on policy and valuation uncertainty

European equity markets retreated as investors digested renewed uncertainty over the Federal Reserve’s policy path and lingering concerns about stretched valuations in the technology sector. Softer-than-expected US jobless-claims data reinforced caution, prompting a modest bid for gold as a hedge against policy-driven volatility.

Japan react: GDP dip gives Takaishi case for fiscal stimulus

Japan’s third-quarter GDP slipped more than expected, sharpening the new administration’s argument for fresh fiscal stimulus and adding pressure on the Bank of Japan to move cautiously on tightening. The contraction was driven largely by a sharp housing pullback and softer exports, while underlying domestic demand remained resilient.

Gold drops amid US monetary policy uncertainty

Gold prices fell sharply after hawkish commentary from several Federal Reserve officials reduced the market’s confidence in near-term easing. At the same time, oil rallied following damage to Russian energy infrastructure that disrupted exports. Meanwhile, the activity indicators from China surprised to the downside, prompting modest weakness in Chinese equities.

Fed rate-cut odds drop: markets pull back

Hawkish commentary from several Federal Reserve officials prompted a marked repricing of policy expectations and a sharp correction in equity markets. The market-implied probability of a 25-basis-point cut at the December FOMC meeting fell significantly, and major US indices declined by more than 1.5 per cent.

AMD and Anthropic reaffirm commitment to AI

Technology firms continue to prioritise investment in artificial intelligence infrastructure as they compete for market share. Advanced Micro Devices (AMD) reiterated its focus on AI, with management forecasting strong multi-year revenue growth, while Anthropic announced a substantial multi-year infrastructure spend.

Pound edges lower on weak UK employment data

The United Kingdom’s labour market showed signs of deterioration this month: the unemployment rate rose and payrolls contracted, prompting renewed uncertainty over the Bank of England’s policy path and weighing on sterling.

Markets rebound on hopes of shutdown resolution

Major US equity indices rallied as markets welcomed the Senate’s approval of a funding bill that—if passed by the House and signed by President Donald Trump—would end the federal shutdown. The prospect of restored government operations reduced policy uncertainty and boosted risk appetite.

US markets fall amid employment and consumption worries

US equity indices closed the week lower amid growing concern over the absence of official employment data, elevated valuations in technology stocks and a deterioration in consumer confidence.