Trump saying that US will leave Iran in 2/3 weeks, but Military build up continuing to build up in the area. Is this a classic say one thing and do the other. Then again, $MSFT (+1,54 %)
$GOOG (+0,41 %)
$NVDA (+1,17 %) SP500 pumped today, with $VIX falling, so maybe he is leaving and all their friends piled in on the good news. Love to hear everyone elses thoughts. Is this the end of the dump and a rally to come in April?

The sour mood in equity markets has extended for another session, dominated by persistent risk-off sentiment over stretched Tech sector valuations. The entire day is squarely focused on $NVDA (+1,17 %) 's Q3 earnings results after the close.

📉 Equities: Volatility & Global Declines

🇺🇸 US Indices: The S&P 500 and Nasdaq closed down for a fourth consecutive day (-0.7% each).

🇪🇺 Europe: Euro area equities led the losses, accumulating a decline of over 3% in a week.

😨 Volatility: The $VIX volatility index (the "fear gauge") is soaring, up 42% week-over-week and trading above 24 points, reflecting high pre-Nvidia uncertainty.

🇦🇺 Australia: The $XAO (-0 %) index plunged by 2% (Tech sector down 6% in one day), while $CBA (Commonwealth Bank) hit a 6-month low.

💡 Labor Data & The Fed Narrative

Despite the equity panic, macro data supports bets on a Fed rate cut:

Unemployment: Early data revealed 232000 new unemployment claims (week ending Oct 18).

ADP (Jobs): Companies shed an average of 2500 jobs per week in the four weeks ending Nov 1, highlighting labor market weakness.

Fixed Income: US Treasury yields ended %lower% as investors sought safer assets, slightly increasing the market-implied probability that the Fed will lower rates in December%.

💻 Tech and Crypto on Edge

$NVDA (+1,17 %) : Attention is at its peak. The stock fell over 1% ahead of Q3 results, which are seen as a critical test of the longevity of the AI boom.

$AAPL (+0,52 %) : A rare US outperformer (+0.3%) due to a 37% sales increase in China.

$MSFT (+1,54 %) / $NVDA (+1,17 %) : The AI arms race continues with an agreement to invest another 15 Billion USD into OpenAI competitor Anthropic.

$$BRK.B (+0,16 %) Bought 5 Billion USD of $GOOG (+0,41 %) stock.

₿ Crypto: $BTC (-0,07 %) is stabilizing near $91k after a sharp drop, with overall crypto markets holding steady ahead of macro data.

⛽ Commodities & Safe Havens

Oil ($1BRN ): Closed higher, near 65$/barrel, due to supply concerns related to Russian sanctions.

Gold 🥇: Sellers meet willing buyers; the precious metal shows resilience amid the risk-off environment.

Today's Focus: All eyes are on $NVDA (+1,17 %) 's earnings after the close. The market's reaction will set the tone for the rest of the week!