{"id":3032,"date":"2025-11-03T15:05:08","date_gmt":"2025-11-03T04:05:08","guid":{"rendered":"https:\/\/www.amillex.com\/?p=3032"},"modified":"2025-12-24T14:59:33","modified_gmt":"2025-12-24T03:59:33","slug":"amillex-daily-market-commentaryhawkish-rate-cut-from-the-fed-and-ongoing-tech-earnings-continue-to-dominate-market-swings-this-weeks-key-focus-can-gold-hold-the","status":"publish","type":"post","link":"https:\/\/www.amillex.com\/es\/2025\/11\/03\/amillex-daily-market-commentaryhawkish-rate-cut-from-the-fed-and-ongoing-tech-earnings-continue-to-dominate-market-swings-this-weeks-key-focus-can-gold-hold-the\/","title":{"rendered":"Amillex Daily Market Commentary: \u201cHawkish rate cut\u201d from the Fed and ongoing tech earnings continue to dominate market swings \u2014 this week\u2019s key focus: can gold hold the $4,000 level as the main battleground between bulls and bears"},"content":{"rendered":"<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<h2 class=\"wp-block-heading\">November 3, 2025 \u2014 As expected, the Federal Reserve cut rates by 25 basis points last week but delivered a hawkish message that dampened expectations for another cut in December. The Nasdaq rose 2.24% for the week but showed wider daily fluctuations. Nvidia\u2019s market capitalization surpassed $5 trillion, marking a historic milestone. Spot gold fell 2.65% but managed to hold above $4,000, while the U.S. dollar index climbed to 99.7, its highest level in two months. The market\u2019s central theme remains the intense tug-of-war between \u201cpolicy repricing\u201d and \u201cescalating geopolitical risks.\u201d<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">U.S. Stock Market: Tech sector sees sharp divergence; Nvidia hits historic milestone<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Weekly performance: Nasdaq +2.24%, S&amp;P 500 +0.71%, Dow Jones +0.75% \u2014 all extending monthly winning streaks (Nasdaq\u2019s seventh consecutive monthly gain).<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Milestone: Nvidia\u2019s market cap surpassed $5 trillion, becoming the first publicly listed company to reach this level; shares gained over 8% for the week.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Polarized performance:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Leaders: Amazon +10.6% (cloud business growth hits three-year high); Google +5% (Q3 revenue tops $100 billion for the first time).<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Laggards: Meta -11% (Q3 profit plunged 83%); Microsoft -2% (Azure cloud growth missed expectations).<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Key drivers:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">AI demand validation: Nvidia\u2019s Blackwell chips projected to generate $500 billion in revenue over the next five quarters; Qualcomm launched AI200 chip to challenge market dominance.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Policy backdrop: Fed\u2019s rate cut to 3.75%\u20134.00% eased financing pressure but the hawkish tone limited valuation expansion.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Precious Metals: Gold stabilizes above $4,000 after wild swings; central bank buying supports long-term outlook<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Spot gold: Weekly range over 5%, briefly dipped to $3,870 before rebounding to close at $4,003.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Spot silver: +0.19% to $48.68, marking its sixth consecutive monthly gain.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Fundamentals:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Hawkish rate cut impact: Powell stated that \u201ca December rate cut is not a given,\u201d triggering a 3% single-day plunge in gold.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Geopolitical support: U.S. plans for potential military action against Venezuela and fragile Gaza ceasefire underscore gold\u2019s safe-haven appeal.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Diverging forecasts: Citi remains short-term bearish (target $3,800), while HSBC sees gold rising to $4,400 in H1 2026.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Forex Market: Dollar hits two-month high as yen sinks to yearly low<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Dollar: DXY +0.77% to 99.7, supported by hawkish Fed rhetoric.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Yen: Fell to \u00a5153.50 per USD, its weakest since February, as the BOJ kept policy unchanged, widening the rate differential.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Core logic: Divergent policy paths between the Fed (hawkish) and BOJ (dovish) have fueled renewed carry trade activity.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Commodities: Oil faces supply-demand tug-of-war as Venezuela risk premium rises<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">WTI crude: Down 1.2% for the week to $60.8, but rebounded Friday on reports the U.S. might conduct military strikes on Venezuela.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Drivers:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Supply pressure: Expectations of potential OPEC+ production hikes weighed on prices; EIA inventory drawdowns failed to offset weakness.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Geopolitical premium: Any U.S. military action against Venezuela could push oil prices up toward $65 in the short term.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Cryptocurrencies: Bitcoin falls nearly 4% as regulatory uncertainty grows<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Major coins: Bitcoin -3.8% to $105,000; Ethereum followed lower.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Policy headwinds: The People\u2019s Bank of China reiterated its crackdown on crypto speculation, while the U.S. SEC tightened scrutiny over stablecoins.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Key Events to Watch This Week<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Fed speakers: Remarks from NY Fed President Williams and St. Louis Fed President Musalem \u2014 potential clues on December rate path.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Central banks:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Bank of England policy decision \u2014 expected to hold rates steady; divided votes may drive GBP volatility.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Reserve Bank of Australia \u2014 likely to keep rates unchanged amid persistent inflation.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">U.S. data: ADP employment and ISM services PMI to serve as key indicators amid ongoing government shutdown (nonfarm payrolls possibly delayed again).<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">U.S. Supreme Court: Tariff authority case could limit presidential powers and ease trade tension concerns.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Geopolitical: Developments in Venezuela \u2014 escalation could boost oil\u2019s risk premium.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Corporate earnings:<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">AMD: AI chip orders and OpenAI collaboration potential in focus.<\/h2>\n\n\n\n<h2 class=\"wp-block-heading\">Qualcomm: If new AI chip orders exceed expectations, it could challenge Nvidia\u2019s dominance.<\/h2>\n<\/blockquote>","protected":false},"excerpt":{"rendered":"<p>November 3, 2025 \u2014 As expected, the Federal Reserve cut rates by 25 basis points last week but delivered a hawkish message that dampened expectations for another cut in December. The Nasdaq rose 2.24% for the week but showed wider daily fluctuations. Nvidia\u2019s market capitalization surpassed $5 trillion, marking a historic milestone. Spot gold fell [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","_glsr_average":0,"_glsr_ranking":0,"_glsr_reviews":0,"ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-3032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorised","entry","has-media"],"_links":{"self":[{"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/posts\/3032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/comments?post=3032"}],"version-history":[{"count":2,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/posts\/3032\/revisions"}],"predecessor-version":[{"id":3471,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/posts\/3032\/revisions\/3471"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/media\/3033"}],"wp:attachment":[{"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/media?parent=3032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/categories?post=3032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.amillex.com\/es\/wp-json\/wp\/v2\/tags?post=3032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}