Rotation. Rotation. Rotation.That is how the day is ending as the dust settled.The money flowed into the bricks and mortar stocks in the Dow 30. The losers were the technology stocks of the Nasdaq. The Dow 30 stocks were led by:Merck & Co (MRK) +4.84%Amgen (AMGN) +4.57%Nike (NKE) +3.87%Johnson & Johnson (JNJ) +2.88%McDonald’s (MCD) +2.61%Walt Disney (DIS) +2.34%Honeywell (HON) +2.21%Verizon (VZ) +2.18%Apple (AAPL) +2.16%Procter & Gamble (PG) +2.09%Chip stocks moved lower after Softbank announced that they divested of all their shares of Nvidia in favor of OpenAI. Looking at the chip stocks: Nvidia shares fell -2.96%AMD fell -2.65%.Intel fell -1.48%Broadcom fell -1.79%Micron fell -4.81%Other losers today included:Nebius NV (NBIS) −7.07%Lam Research (LRCX) −4.29%Trump Media & Technology (DJT) −4.02%Papa John’s (PZZA) −3.91%Tapestry (TPR) −3.81%Super Micro Computer (SMCI) −3.40%Arm (ARM) −3.29%First Solar (FSLR) −3.20%Cadence Design (CDNS) −3.16%MicroStrategy (MSTR) −3.14%Grayscale Bitcoin (GBTC) −3.09%Alibaba ADR (BABA) −3.07% This article was written by Greg Michalowski at investinglive.com.

The Reuters Tankan for Japan is not listed in the screenshot, but its due at 2300 GMT / 1800 US Eastern time. Japan's economy is throwing mixed signals, but generally seems improving. Eyes on this from Reuters today. The Reuters Tankan Index provides a monthly snapshot assessing Japanese business sentiment ahead of the Bank of Japan's quarterly report also with the Tankan name. The term "Tankan" is short for "Tanshin Kansoku," which roughly translates to "Short-term Economic Observation".This snapshot from the investingLive economic data calendar.The times in the left-most column are GMT.The numbers in the right-most column are the 'prior' (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected. This article was written by Eamonn Sheridan at investinglive.com.

Bitcoin has been something of a leading indicator for risk trades lately. It's at the lows of the day, down 2.7% on a day when the Nasdaq is down just 0.2%. Now there is a tighter correlation with chipmakers, which are struggling today so it's not a screaming red flag but it's certainly a warning sign. It's also another day of lackluster performance for bitcoin, which rose as high as $107,454 today before reversing sharply. This article was written by Adam Button at investinglive.com.

Colder weather forecasts have boosted US natural gas prices to some of the best levels since the 2023 spike but there could be more to come.Natty is up 5% today but it's one of the few things directly touching the AI investment supercycle that hasn't spiked. It certainly could and demand for power isn't the only reason.1) Data centersFirst, let's break down the power demand, which is around 500 large data centers by 2030, which is the equivalent of powering nearly 20 million US homes or 50-60 GW, mostly sourced from natural gas. That could add about 3.5-4% of US natural gas demand and likely growing by 2035.2) The LNG buildout continuesThere are currently seven major LNG construction projects in North America that will add 18 Bcf/d of total export capacity and total capacity to 28.7 Bcf/d by 2029. There are upside risks to that as well with LNG Canada Phase 2 and Lake Charles possibly adding around 4 Bcf/d if approved.3) Low oil pricesOil and gas are like Siamese Twins, they need each other to survive. Dry gas is rare so most wells are some combination of oil and natural gas. When oil prices are low, the wells that are 80/20 oil aren't drilled. Oil company budgets for 2026 are looking lean so there is a marginal drag on supply. In the short run, natural gas prices are always about winter weather but there is a huge call on North American natural gas coming. A rise back to $7 gas would be an absolute windfall for natty producers and contract drillers, along with a big inflation headache for everyone else. This article was written by Adam Button at investinglive.com.

Today's stock market heatmap paints a vivid picture of diverging sectors, with tech cooling off while energy sees rising momentum. Utilized by market participants for sector analysis, the heatmap highlights the day's trends, sentiments, and major movers across the US stock market.? Technology Sector: Cooling OffThe technology sector experienced a notable retreat with leading semiconductor stocks like Nvidia (NVDA) dropping by 2.12%. Similarly, other major players like Oracle (ORCL) and Intel (INTC) are showing instabilities, down by 1.59% and 1.17% respectively. This decline suggests a potential cooling down of investor optimism in tech, possibly impacted by recent market dynamics and broader economic concerns.? Energy Sector: Gaining MomentumIn contrast, the energy sector is witnessing positive traction. Exxon Mobil (XOM) and Chevron (CVX) both report gains of 0.62% and 0.77%, respectively. This sector's ascent might reflect rising oil prices or increased demand predictions, marking it as a potential area of growth for savvy investors.? Market Mood and TrendsThe broader market sentiment remains mixed, fueled by sector-specific volatility and overarching economic indicators. Notably, the consumer cyclical sector sees Amazon (AMZN) with a minor dip of 0.17%, while healthcare firms like Johnson & Johnson (JNJ) enjoy stable gains (0.66%), pointing toward investor rotation into more defensive stocks.? Spotlight: Key MoversResilience in Healthcare: Noteworthy players like Eli Lilly and Co (LLY) maintain upward momentum with a 0.47% increase.Consumer Defensive Stability: Walmart (WMT) hovers near stability despite minor losses (-0.07%), underscoring the sector's defensive appeal.Crypto Slump: Cryptocurrency exchange Coinbase (COIN) tumbled 2.23%, highlighting the sector's ongoing volatility.? Strategic RecommendationsInvestors are advised to closely monitor developments in the technology sector, particularly semiconductors, for any indicators of a sustained downturn or recovery. The energy sector might present lucrative opportunities, driven by its current upward trajectory. Additionally, maintaining a diversified portfolio, especially in more stable sectors like consumer defensive and healthcare, may hedge against today's inherent market uncertainties.As always, staying informed through platforms like InvestingLive.com is crucial for keeping pace with market changes and capitalizing on emerging opportunities. Diversification remains key to navigating today's complex landscape. ? This article was written by Itai Levitan at investinglive.com.

Knowing the technical levels in play is key to traders success.In the video above, I outline the key technical levels in play for the USDCAD, AUDUSD and NZDUSD given the price action and applying key technical tools that lots of traders follow.Those tools tell a story - or bias (who is in control - buyers or sellers) - as well as defining targets on where you are going, and the risk on where you are wrong (where the bias shifts). If you are interested in learning where those levels and understanding why, click on the above video. I will tell the story. This article was written by Greg Michalowski at investinglive.com.

The USDCHF is the weakest of the major currency pairs today, reflecting a stronger Swiss franc. The move follows reports that the U.S. and Switzerland may soon announce a trade deal that would cut tariffs from 39% to 15%, spurring fresh selling in the pair. Recall that President Trump unexpectedly raised tariffs on Swiss imports to 39% on August 1, well above those applied to the EU. The steep increase was part of the administration’s “reciprocal tariff” strategy targeting countries with large trade surpluses with the U.S.—and Switzerland fits that bill, given its strong exports of precision equipment, watches, and gold.The potential rollback comes as the Supreme Court prepares to rule on key tariff-related challenges, which could prompt the administration to reconsider its broader trade approach. The timing is notable, as the White House also signaled plans to reduce tariffs on Indian imports (currently near 50%). The timing is curious. In any case, the tariff development appears to be giving the CHF an extra boost.From a technical perspective, momentum is aligning with the fundamentals. The pair fell away from its 200-hour moving average in the Asian session near 0.8061 and has since broken below a key swing area between 0.8013 and 0.8019, the 38.2% retracement of the rise from the September low at 0.80107, and the psychological 0.8000 level. On the 4-hour chart, the price now sits below both the 100- and 200-bar MAs at 0.8007 and 0.7995 (blue and green lines on the chart below), reinforcing bearish control. Staying below these levels keeps the focus on the next downside target near the 50% retracement at 0.79758. If buyers manage to halt the decline, a recovery back above 0.8019 would be needed to restore confidence and weaken the sellers’ grip. This article was written by Greg Michalowski at investinglive.com.

Shares of Nvidia are down 1.9% in the pre-market and helping to drag broader S&P 500 futures down by 0.2%.The trigger -- ostensibly -- is that SoftBank disclosed that it sold its entire stake in Nvidia worth $5.83 billion in October. First of all, let's do the math on that: It's 0.1% of the company. It's a drop in the bucket.Second of all, SoftBank famously held 4.9% of Nvidia from 2017-2019. They paid about $4 billion for the 4.9% stake and that would be worth $237 billion today. Of course, they sold it in January 2019 in a trade that will haunt Masayoshi Son forever.All that said, there are plenty of reasons to sell NVDA. A tech washout at some point in 2026 is inevitable as either spending slows, competitive pressures emerge or there is a macro shock due to the midterms or whatever else Trump does. This article was written by Adam Button at investinglive.com.

The good news is that the US government shutdown is in its final stages and is likely to wrap up on Wednesday. The bad news is that it will take awhile to get back on track with economic data, with some reports being delayed until close to year end.Even worse is that this vote only reopens the government until the end of January, so we could soon be doing this song and dance again.This is so annoying. 8:30 am ET is my favorite time of day each day and we're trading on some flimsy ADP data instead. This article was written by Adam Button at investinglive.com.

The weekly data from ADP is turning into a market mover.The initial report showed a healthy +14,250 jobs but skip ahead two weeks (it wasn't released last week) and it's now showing a drop of 11,250K per week on average for the past four weeks.That should translate into a poor reading, though ADP itself reported +42K jobs in October. I'm not sure how to square that but today's ADP release said the labor market struggled to produce jobs consistently during the second half of October.Here is what ADP writes:Last week, The ADP National Employment Report showed that job growth had resumed in October after a two-month downturn, with private-sector employers adding 42,000 jobs.The gain was welcome, but it wasn’t broad-based. Education and healthcare, and trade, transportation, and utilities led the growth. For the third straight month, employers shed jobs in professional business services, information, and leisure and hospitality.I'm still struggling to understand this new ADP report, which is weekly data but it will only be released three times per month (not in weeks when the monthly report is released).The market is moving on it. This article was written by Adam Button at investinglive.com.

The USD is mixed to start the North American session. The dollar is lower versus the EUR (-0.13%), CHF (-0.42%), NZD (-0.12%) and higher vs the JPY (+0.04%), GBP (+0.16%), CAD (0.06%) and AUD (+0.17%). Yesterday, the Republican-led Senate passed a spending package late Monday to end the record-long government shutdown, with an approval vote of 60-40. Eight Democrats joined nearly all Republicans to push the measure through. Senate Majority Leader John Thune celebrated the move, calling it the end of the nation’s longest shutdown. The bill now heads to the GOP-controlled House, where it’s expected to pass with White House support. The vote followed a similar procedural vote Sunday night that narrowly met the 60-vote threshold to advance the bill.In the UK, the employment data pointed to a cooling labor market. Claimant counts jumped by 29.0K, well above the 17.6K expected, signaling more people filing for jobless benefits. Wage growth slowed slightly, with the average earnings index rising 4.8% compared to forecasts and the prior reading of 5.0%, suggesting easing pay pressures. Meanwhile, the unemployment rate edged up to 5.0% from 4.8%, continuing its gradual climb. Overall, the figures highlight weakening labor conditions that could give the Bank of England room to turn more dovish in the months ahead. The GBPUSD is down -0.18%. Switzerland is reportedly close to finalizing a deal with the U.S. to cut tariffs on its exports to 15% from 39%, with completion possible by Thursday or Friday pending President Trump’s approval. Negotiations gained momentum after Swiss executives met with Trump, who instructed USTR Greer to accelerate talks. The move comes as Switzerland seeks relief from the higher tariffs that have hurt economic growth and pushed unemployment to a four-year high. The USDCHF is down -0.43% (higher CHF) on the deal hope. The latest UK employment data points to a cooling labor market. Claimant counts jumped by 29.0K, well above the 17.6K expected, signaling more people filing for jobless benefits. Wage growth slowed slightly, with the average earnings index rising 4.8% compared to forecasts and the prior reading of 5.0%, suggesting easing pay pressures. Meanwhile, the unemployment rate edged up to 5.0% from 4.8%, continuing its gradual climb. Overall, the figures highlight weakening labor conditions that could give the Bank of England room to turn more dovish in the months ahead.In the premarket for US stocks, the Dow industrial average is modestly higher, the S&P and the NASDAQ indices are lower. There was a report overnight that SoftBank sold its entire 32.1 million-share stake in Nvidia in October 2025 for about US $5.8 billion, a move that coincided with a strong earnings period in which it reported roughly ¥2.5 trillion (≈ US $16 billion) in net profit. The company described the sale as part of a strategic pivot to monetize its Nvidia investment and channel funds into its growing AI ambitions, including major projects such as OpenAI and its “Stargate” AI infrastructure initiative. Despite the divestment, SoftBank and Nvidia remain connected, as many SoftBank-backed ventures continue to depend on Nvidia’s technology, and Nvidia remains a key partner within the broader AI ecosystem. Shares of Nvidia are currently trading down -1.80 at $195.46. Looking at the major indices, the futures are implyingDow industrial average of 12 pointsS&P index down -15.43 pointsNASDAQ index down -119 pointsLooking at other marketsCrude oil is up $0.35 or 0.625 at $60.50Gold is up $22.82 or 0.55% at $4138. Yesterday, the price rose by 2.88% its largest gain since May. Silver is up $0.67 or 1.32% at $51.16. Yesterday the price soared by 4.482% for its largest gain since June.Bitcoin is trading down thousand dollars at $104,945Once again, the bond market is closed in observance of Veterans Day. This article was written by Greg Michalowski at investinglive.com.

US October NFIB small business optimism index 98.2 vs 98.3 expectedGermany November ZEW survey economic sentiment 38.5 vs 41.0 expectedPBOC says to implement appropriately loose monetary policyReminder: It is a partial market holiday in the US todayBoE's Greene: Risk management around inflation needs to influence BoE policy viewsLimited risk of JPY intervention for the time being, says Goldman SachsECB's Vujcic: Risks are balanced around inflationECB's Kocher: We are in a good position on interest ratesECB's Elderson: Inflation risks are balancedBOE rate cut odds nudge up after softer labour market reportIs this a precursor to the next big correction in the stock market?UK September ILO unemployment rate 5.0% vs 4.9% expectedFX option expiries for 11 November 10am New York cutGold getting ahead of the curve?China reportedly considers new system in fast-tracking rare earth exportsThe main highlight today was the UK labour market report. The data missed across the board strengthening the expectations for a December cut from the BoE. In fact, the probabilities jumped from 61% to 81% after the release. On the data front, we had also the German ZEW survey which missed expectations but didn't change anything for the market given the ECB neutral stance. Other than that, we didn't have anything of note really. We got a few ECB members repeating the same old stuff saying that inflation risks are balanced and that interest rates are at appropriate levels. We've also heard from BoE's Greene but despite the softer employment data, she maintained her usual hawkish stance. As a reminder, today is a US federal holiday (Veterans Day) with the stock market open and the bond market closed. Moreover, the ADP was supposed to release their weekly jobs data today at 13:15 GMT/08:15 ET, but I don't see it on any calendar. Some have it for tomorrow but the last time the ADP released their weekly data they said they would release it every Tuesday. Not sure if it's going to be today or tomorrow, but keep an eye on that as it should be market-moving given the focus on the US labour market data from the Fed and the market. This article was written by Giuseppe Dellamotta at investinglive.com.

Fundamental OverviewThe USD has weakened pretty much across the board last week despite a strong US ADP and ISM Services PMI. As mentioned previously, when markets react like that it’s generally a signal of a short-term top with the market needing more to keep the trend going. In fact, the market pricing is now showing a 63% probability of a December cut, which is about right. The NFP and CPI reports will have the final say, and we should get them before the next FOMC decision.On the CAD side, the BoC cut interest rates by 25 bps at the last meeting as expected bringing the policy rate to the lower bound of their estimated neutral rate range of 2.25%-3.25%. The central bank has also signalled that they reached the end of their cutting cycle, although they kept the door open for another cut if needed. On Friday, we got another strong Canadian employment report with a notable fall in the unemployment rate from 7.1% to 6.9%. The data didn’t change anything for the BoC as the central bank won’t cut or hike at this point but helped to trim rate cut expectations further with the market now seeing just a 36% probability of another cut by the end of 2026. USDCAD Technical Analysis – Daily TimeframeOn the daily chart, we can see that USDCAD broke below the 1.4080 level following the strong Canadian employment report. The sellers piled in on the break and will likely target the trendline around the 1.3950 level. If we get there, we can expect the buyers to lean on the trendline with a defined risk below it to position for a rally into a new high. USDCAD Technical Analysis – 4 hour TimeframeOn the 4 hour chart, we can see that we are trading right in the middle of the two key levels, so there’s no strong level where to lean onto. If we get a pullback into the 1.4080 level, we can expect the sellers to step in with a defined risk above the level to position for a drop into the trendline. The buyers, on the other hand, will want to see the price breaking higher to pile in for a rally into new highs.USDCAD Technical Analysis – 1 hour TimeframeOn the 1 hour chart, we can see that we have a counter-trendline acting as support. The buyers will likely continue to lean on it to keep pushing into new highs with a defined risk below it. The sellers, on the other hand, will look for a break lower to increase the bearish bets into the major trendline. The red lines define the average daily range for today. Upcoming CatalystsThis week is pretty empty on the data front as we just have the weekly US ADP data tomorrow. This article was written by Giuseppe Dellamotta at investinglive.com.

Prior 98.8Full report hereThis is not a market-moving report. The data is basically in line with expectations.The agency said: "The NFIB Small Business Optimism Index declined 0.6 points in October to 98.2 but remained above its 52-year average of 98. The Uncertainty Index fell 12 points from September to 88, the lowest reading of this year."Bill Dunkelberg, NFIB Chief Economist, added: "Optimism among small businesses declined slightly in October as owners report lower sales and reduced profits. Additionally, many firms are still navigating a labor shortage and want to hire but are having difficulty doing so, with labor quality being the top issue for Main Street." This article was written by Giuseppe Dellamotta at investinglive.com.

Prior 39.3Current conditions -78.7 vs -78.0 expectedPrior -80.0We have misses across the board here but this is not going to change anything for the ECB, so it shouldn't matter much.The agency said: "The overall mood is characterised by a fall in confidence in the capacity of Germany's economic policy to tackle the pressing issues. Although the investment programme is likely to provide economic stimulus, the structural problems continue to exist". This article was written by Giuseppe Dellamotta at investinglive.com.

To keep liquidity ampleThe external situation remains unstable and uncertainChina's economy is facing many risks, challengesNeed to consolidate the economic recoveryTo strengthen transmission of monetary policyTo maintain prices at a reasonable levelWill stabilise growth, jobs, expectations; maintain forex flexibilityTo increase efforts to support consumption, tech innovationThere's nothing new here as the PBOC continues to reaffirm their pledge to keep more easy monetary policy conditions in trying to prop up the economy. Sentiment in China has definitely improved this year and avoiding a trade war with the US is definitely helping. However, domestic demand remains weak - if not dead in the water - and that is still the biggest problem that Beijing is facing. This article was written by Justin Low at investinglive.com.

It's one of the few odd ones that we see the bond market closed while the stock market is open. It is a federal holiday in observance of Veterans Day and so federal offices that are not impacted by the shutdown will also be closed today. But for markets, that at least continues to keep the focus on risk trades and equities after the bustling start to the new week. This article was written by Justin Low at investinglive.com.

There may be precautionary savingHouseholds inflation expectations are at the very top of what we can explainToday's wage data is good news as a bit lower than expectedWage settlements data for next year from surveys is higher than we would like to seeThere are uncertainties around the domestic economyI am worried about inflation persistence in UK, means monetary policy needs to be more restrictive than otherwiseI'm not convinced monetary policy is meaningfully restrictive in the UKLatest unemployment reading is not great, but problems with labour force survey make it hard to know what's going onLatest wage data suggest disinflationary process in on track, forward-looking surveys suggest it might not beWages are still way too high given weak growthMarkets price neutral rate for UK as 3.25-3.50% and I think that's reasonableBoE's Greene has held a hawkish stance for months, so these comments are not surprising. In fact, this is pretty much what we saw in the Minutes of last week's BoE Monetary Policy Summary that you can find here. Greene is concerned that higher inflation expectations changed wage setting behaviour, so even if the labour market softens, it might not be enough to bring inflation back to 2% target. Kind of what happened in the 70s when the This article was written by Giuseppe Dellamotta at investinglive.com.

Goldman Sachs notes that while USD/JPY is climbing back towards 155 and the highest levels since the start of the year, the usual triggers for any intervention from Tokyo are yet to materialise. That being any rapid, disorderly move in the currency and/or any material clear fundamental dislocation.The firm argues that further yen weakness is a staple now amid fiscal risk repricing and a shift in BOJ expectations, not least under Takaichi's premiership. And a lack of new US data will play into that as well, at least for the time being.That being said, Goldman Sachs points out that a quick move in USD/JPY towards 161-162 could change the backdrop and raise intervention risk from Tokyo. And that if needed, the Ministry of Finance has the capacity to match the size of previous interventions as seen back in 2022 and 2024. But for now, they see that the yen is not quite yet as excessively weak levels. This article was written by Justin Low at investinglive.com.

Economically we are in a good placeWe have had slightly higher growth and inflation than forecastFrontloading of tariffs is still unwindingConsumers are still very cautious in Europe; hard to understand whyMarket valuations are stretchedI am a bit concerned that retail participation in stock markets is growing faster than hedge fundsThere is nothing new here from Vujcic as he just repeats what many other ECB members have already said over and over again: monetary policy is in a good place. This article was written by Giuseppe Dellamotta at investinglive.com.