The Nasdaq bids farewell to seven consecutive weeks of gains, gold prices retreat, and the pound falls for five consecutive weeks | Overseas Major Asset Weekly Report

This week, the U.S. non-farm payrolls for October were far below expectations, and the Federal Reserve's preferred inflation indicator, PCE, unexpectedly accelerated. With the U.S. election results imminent, U.S. stocks fell across the board for the week, U.S. Treasury yields surged in double digits throughout the week, the dollar index closed flat, and the pound fell for five consecutive weeks.

This week, major tech giants released their earnings reports. Apple's earnings report was disappointing, while Amazon and Intel boosted optimism in tech stocks. However, looking at the week, the Nasdaq bid farewell to its previous seven-week rising trend. For the week, the Nasdaq fell 1.5%, the S&P 500 fell 1.4%, and the Dow Jones fell 0.2%.

In terms of sectors, solar energy and bank stocks led the gains, while chip and oil & gas stocks lagged. The China concept index accumulated a gain of 0.34%.

The "Trump trade" continues to heat up, with U.S. Treasury yields fluctuating due to data influences. The 10-year U.S. Treasury yield accumulated a rise of 10.29 basis points this week, reaching its highest level in nearly four months.

The dollar index experienced a V-shaped reversal on "non-farm day," breaking back above 104 and erasing the week's losses, accumulating a rise of 0.19% for the week; the pound has fallen for five consecutive weeks, marking its longest streak in six years.

After refreshing daily lows, both the dollar and U.S. Treasury yields rebounded, putting pressure on precious metals. Gold prices fell for two consecutive days on Thursday and Friday, marking the worst week since August.