🗓 Monday, November 3, 2025
► Europe higher – autos and airlines lift sentiment; DAX in outperformance; Investors eye busy earnings week
European equities opened the new month on a positive note, supported by strong corporate earnings and upbeat global sentiment. Stoxx 600 +0.34%, DAX +0.9%, CAC 40 +0.05%, FTSE 100 +0.04%, FTSE MIB +0.4%, IBEX +0.4%. Bund 10Y 2.66% (+2bps), UK 10Y 4.43% (+2bps). EUR/USD 1.151 (-0.2%), GBP/USD 1.313 (-0.1%), USD/JPY 154.2 (+0.1%). Renault +2.9% after expansion plans with Geely; Mercedes-Benz +3.2%, Volkswagen +2.5%, Porsche +1.3% as auto stocks rebounded +1.8% after recent weakness. Ryanair +2.3% after strong Q2 profit report; BP +0.5% on $1.5B asset sale in the US. Traders await earnings from Ferrari, Aramco, BMW, and AstraZeneca later this week as focus shifts to upcoming central bank decisions from the BoE and Riksbank.
► Wall Street higher – AI and tech strength extend six-month bull run
US futures pointed higher as investors looked toward key earnings from Palantir (+165% YTD) and AMD (+112% YTD) later this week. S&P 500 +0.25%, Nasdaq 100 +0.65%, Dow -0.1%. Nvidia +2% and AMD +1% in premarket; Micron +3% leading chipmakers; Palantir +2% ahead of earnings. Microsoft +0.5% after announcing $9.7B AI cloud deal with Iren Ltd. Kimberly-Clark +4% after $48.7B acquisition of Kenvue. Berkshire Hathaway +1% after record Q3 profits and $381.7B cash reserves. Traders trimmed expectations for another Fed cut in December (now 60% probability) after Powell’s cautious tone, but optimism on AI demand and strong Q3 earnings (80% beats so far) kept risk appetite intact.
► Asia higher – Japan and Korea lead tech rally; China manufacturing slows
Asian equities mostly advanced, buoyed by strong semiconductor gains and upbeat Wall Street momentum. Nikkei +2.1%, Kospi +2.8%, Hang Seng +1.0%, Shanghai +0.6%, Shenzhen +0.2%, ASX +0.2%, Nifty +0.2%. USD/JPY 154.2 (+0.1%), USD/CNY 7.12 (+0.05%). Nvidia and Microsoft-led optimism supported AI and cloud-related stocks across the region. Chinese manufacturing PMI slowed to 49.0 (lowest in 6 months), slightly dampening sentiment, but investors remained focused on upcoming fiscal measures and trade stabilization efforts.
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