Waiting for the Federal Reserve to cut interest rates! European and American stock index futures rose slightly, Trump Media & Technology fell 10% in pre-market trading, Qualcomm surged 7%, and non-US currencies rebounded

After the overnight "Trump trade" dominated the market, igniting the US dollar, US stocks, and cryptocurrencies, today's market sentiment is more rational. The market is currently waiting for the Federal Reserve's upcoming interest rate decision, with a general expectation of a 25 basis point rate cut, but the key lies in what kind of policy guidance the Federal Reserve will provide.

Today, European and American stock index futures rose slightly, with Nasdaq futures up 0.2%; Asia-Pacific stock indices showed mixed results, with the Nikkei 225 index closing down 0.3%. Non-US currencies began to rebound and recover lost ground, with the renminbi rising over 300 points, while Bitcoin's upward momentum paused, and commodity volatility narrowed.

Under the "Trump trade," US Treasury yields surged by 16 basis points overnight but have generally retreated now. In pre-market trading for US stocks, Trump Media & Technology and Arm fell, while Qualcomm rose.

• European and American stock index futures rose slightly, with Nasdaq futures up 0.2% and the German DAX30 futures index up 0.5%.

• Asia-Pacific stock indices showed mixed results, with Indonesia and India's stock indices down over 1%, and the Nikkei 225 index closing down 0.3%.

• Non-US currencies counterattacked, with the offshore renminbi rising over 300 points against the US dollar, breaking above 7.17. The Australian dollar rose 1%, nearing the losses triggered by the US election.

• US Treasury yields retreated, with the 10-year Treasury yield falling to 4.408%, after reaching 4.4256% yesterday.

• Bitcoin fell 1%, after rising about 10% yesterday to refresh its historical high above $76,000.

• Crude oil showed little volatility, while spot gold rose slightly by nearly 0.3%, after falling 3.1% yesterday.

【17:05 Update】

In pre-market trading for US stocks, Trump Media & Technology fell 10%, Qualcomm rose nearly 7% in pre-market trading, with last quarter's profit increasing over 30%, and this quarter's guidance exceeding expectations; Arm fell over 4% in pre-market trading, as the company's actual performance guidance did not meet Wall Street's high expectations.

【15:20 Update】

The offshore renminbi rose over 300 points against the US dollar today, breaking above 7.17, currently reported at 7.1694. The Australian dollar rose 1%, nearing the losses triggered by the US election.

European and American stock index futures rose slightly in pre-market trading, with Nasdaq futures up 0.2%.

The German DAX30 futures index rose 0.53%, and the European Stoxx 50 index futures rose 0.56%.

Asia-Pacific stock indices were mixed, with Indonesia and India's indices falling over 1%, and the Nikkei 225 index closing down 0.3%.

Commodity fluctuations narrowed, with crude oil showing little movement, and spot gold rising slightly by nearly 0.3%. Overnight, spot gold fell by 3.1%, dropping below $2,660, about 4.6% off its historical high.

Bitcoin fell by 1%. Previously, spot Bitcoin had risen about 10%, reaching a historical high of over $76,000.

U.S. Treasury yields generally retreated, with the 10-year Treasury yield falling to 4.408%, after briefly rising to 4.4256% yesterday.

On Wednesday (November 6), at the New York close, the yield on the U.S. 10-year benchmark Treasury rose by 15.48 basis points to 4.4256%. The two-year Treasury yield increased by 8.94 basis points to 4.2659%, rising to 4.3073% at 11:01, approaching the July 30 peak of 4.4059% and the May 29 peak of 4.9975%.