After the warnings coming across the board, even lately from the Old Lady of Threadneedle, of an impending A.I. bubble that creates financial stability risks and economic risks, the speculation in markets goes unabated, and here we have a morning wrap-up of all major asset classes in markets:
Bonds
The global bond market has experienced robust primary issuance, up by 1% year-on-year to USD 7.4 trillion-equivalent for the first nine months of 2025. High-yield funds remain attractive, with strong inflows and only minor outflows over the past 20 weeks, supported by tightening secondary spreads and easing interest rate volatility. European government bond yields have generally risen over the past year, with Germany’s 10-year at 2.70%, the UK’s at 4.63%, and France’s at 3.56%; the US 30-year yield stands at 4.71%.
Currencies
The euro is trending lower, with the EUR/USD currently at 1.160, and may test support near 1.1575 before rebounding upward toward 1.1725. A breach below 1.1535 would indicate further decline, while a breakout above 1.1705 may confirm sustained upward movement. The USD/CHF (Dollar-Franc) pair shows short-term bullishness but is expected to face resistance near 0.8035 and may decline toward 0.7905 if downward signals persist.
Commodities
Commodity prices are under downward pressure due to stagnant global demand and ongoing geopolitical tensions, with the 2025 average euro-denominated commodity prices forecast to decline by 6.3% compared to 2024. Recent price increases for major commodities have been driven more by supply disruptions than demand recovery. Oil prices have slipped amid easing Middle East tensions and higher US inventories, while gold and industrial metals have seen support from supply concerns, as of this morning:
US Dollar Index (DXY) decreased marginally by around -0.05%, currently near 98.59.
Brent Crude Oil slightly increased by approximately +0.03%, trading around $66.27 per barrel.
WTI Crude Oil edged down by about -0.02%, at roughly $62.54 per barrel.
ETFs
ETF markets continue expanding, especially in Australia, where ASX-listed ETFs now exceed $300 billion in funds under management—up from $219 billion last year. Top-performing ETFs this month are dominated by precious metals and tech/AI sectors. The VanEck Gold Miners ETF (GDX) leads with estimated YTD gains of 90–135% due to a gold rally; VanEck Semiconductor ETF (SMH) and abrdn Platinum Shares (PPLT) also post strong returns. Investor interest remains high in diversified strategies, sector-focused funds, and safe-haven assets like gold.
Top Market Movers and After-Hours
- Nasdaq Composite surged by 1.12% to close at 23,043.38, marking a new all-time high and crossing the 23,000 level for the first time, propelled by technology and AI-related stocks.
- S&P 500 climbed 0.58% to end at 6,753.72, notching its eighth gain in the last nine sessions and also reaching an all-time closing high.
- Dow Jones Industrial Average ended essentially flat, down just 0.00%, or 1.20 points, at 46,601.78.
- India’s Nifty 50 opened higher by 0.24% (GIFT Nifty), but the previous session saw a mild downtick due to profit booking after recent rallies.
- Straits Times Index (STI) in Singapore slipped 0.25% in early morning trade.
- US500 Index rose to 6,757, gaining 0.05% from the previous session.
Top Gainers and Losers (Stocks)
After-hours Gainers
- Turn Therapeutics Inc.: +134.57%
- Ambow Education Holding Ltd.: +47%
- Baosheng Media Group Holdings Limited: +51.06%
- Connexa Sports Technologies Inc.: +32.12%
- CDT Equity Inc.: +26.33%
Commodities
- Gold extended its rally, breaking above $4,000 per ounce for the first time, as investors sought safe havens amid concerns about currency devaluation. Gold futures have continued their impressive run.
- Silver also increased to $49.26, nearing its long-term record levels, last seen in 2007.
Sector Performance & Notes
- US market gains were driven by technology shares, especially AI megacaps, in the face of a US government shutdown and anticipation of more rate cuts by the Federal Reserve.
- Indian markets saw selling pressure at higher levels in all sectors except IT and consumer durables; the IT index rallied 1.50%.