🌅 Morning Market Report: November 4, 2025

Key Takeaway:
Global markets open Tuesday with a defensive tone: European equities are trading lower, US futures are mixed, and Asian markets closed broadly down. Cautious sentiment is driven by central bank policy uncertainty, delayed US economic data, and persistent geopolitical risks. Crypto markets are volatile, commodities are mixed, and today’s packed economic calendar—including Eurozone unemployment, US JOLTS job openings, and major earnings—will set the tone for risk assets.

1. Real-Time Global Market Snapshot

📈 European & UK Indices (08:15–08:20 UTC)

IndexLive Price% ChangeTrend
FTSE 100 (UK)9,647.80-0.55%▼
DAX 40 (Germany)24,132.40+0.73%▲
CAC 40 (France)8,006.30-1.28%▼
Euro Stoxx 504,726.59-0.82%▼
IBEX 35 (Spain)15,890.20-0.92%▼
FTSE MIB (Italy)42,775.40-1.04%▼

🇺🇸 US Futures

IndexFutures% ChangeTrend
S&P 5006,880+0.11%▲
NASDAQ 10026,050+0.19%▲
Dow Jones47,7000.00%–

🌏 Asian Markets (Close)

IndexClose% ChangeTrend
Nikkei 22551,497.20-1.7%▼
Hang Seng25,983.29-0.6%▼
Shanghai Comp.3,960.19-0.4%▼
ASX 2008,813.70-0.9%▼
KOSPI4,121.74-2.4%▼
Sensex (India)83,700.97-0.33%▼

💱 Forex

PairRate% ChangeKey Driver
EUR/USD1.0640-0.2%ECB dovish, weak data
GBP/USD1.2320-0.1%BoE caution, UK headwinds
USD/JPY153.20+0.3%BoJ dovish, US yields
AUD/USD0.6415-1.03%RBA hold, AUD weak

🛢️ Commodities

CommodityPrice% ChangeKey Driver
Gold$4,010/oz-0.3%Profit-taking, yields
Silver$48.32/oz-0.93%Industrial demand
WTI Crude$81.20/bbl+0.5%OPEC+, geopolitics
Brent Crude$85.10/bbl+0.4%OPEC+, Mideast risk
Nat. Gas$4.20/MMBtu-1.45%Mild weather, LNG

₿ Cryptocurrencies

CryptoPrice24h % ChgMarket Cap (Tn)Key Theme
Bitcoin$106,604-3.03%$2.07Volatility, ETF
Ethereum$3,597-6.64%$0.42Underperforming
Solana$156.96––DEX leader
XRP$2.25-3.5%–Technical weak

2. Overnight Developments & Global Sentiment

  • Asia: All major indices closed lower, led by profit-taking in tech and semiconductors (notably Japan, Korea). China’s weak PMI and property sector worries weighed on sentiment. RBA held rates steady, sending AUD sharply lower .
  • Europe: Opened defensively, mirroring Asia’s risk-off tone. Defensive sectors (staples, healthcare) outperform; cyclicals and financials lag. ECB’s Lagarde to speak today—markets watching for policy clues .
  • US: Futures mixed; after-hours saw volatility in tech (Palantir, Amazon) and consumer names. Fed’s data-dependent stance and government shutdown keep uncertainty high .
  • Commodities: Oil up on OPEC+ discipline and geopolitics; gold consolidates near highs; agricultural prices steady but weather and trade risks persist .

3. Key Events & Economic Calendar (UTC)

TimeEvent/ReleaseConsensus/FocusExpected Impact
03:30RBA Rate Decision (Australia)Hold at 4.35%AUD, Asian risk sentiment
09:00Eurozone Unemployment Rate7.0% (steady)EUR, European equities
15:00US JOLTS Job Openings8.9M (vs 9.1M prior)US stocks, USD, Treasuries
15:00US Factory Orders+0.4% MoMIndustrials, USD
17:00Fed’s Mary Daly SpeaksPolicy outlookUS rates, risk assets
19:00Fed’s Lisa Cook SpeaksPolicy outlookUS rates, risk assets
All DayOPEC+ Meeting (ongoing)Output policyOil, energy stocks, FX
All DayMajor US & EU EarningsTech, consumer focusSector rotation, volatility

4. Sector & Asset Class Highlights

🏆 European Sectors

  • Defensive Outperform: Consumer staples (Unilever, Danone), healthcare (pharma, biotech).
  • Cyclicals Lag: Industrials (Volkswagen, Bosch), materials, financials (BNP Paribas, Adyen).
  • Tech Mixed: ASML, Infineon up; SAP, Adyen down.

🇺🇸 US Pre-Market Movers

  • Tech: Palantir, Amazon, Nvidia in focus after earnings.
  • Consumer: Uber, Pfizer, AMD, Starbucks report today.
  • Breadth Narrow: S&P 500 rally led by few mega-caps; over 300 stocks closed lower yesterday.

🌏 Asia

  • Japan: Nikkei down on profit-taking, BoJ dovish.
  • China: Property, tech weak; stimulus skepticism.
  • Korea: KOSPI hit by tech selloff, shipping news.

₿ Crypto

  • Volatility High: Bitcoin, Ethereum down sharply after leveraged liquidations.
  • Altcoin Rotation: Solana leads DEX volumes; DOGE sees whale accumulation.
  • Regulatory Watch: Cboe to launch BTC/ETH perpetuals; SEC ETF decisions pending.

🛢️ Commodities

  • Oil: OPEC+ pauses output hikes for Q1 2026; supply glut fears offset by geopolitics.
  • Gold/Silver: Near highs, but profit-taking and strong USD weigh.
  • Agri: US harvest delays, China trade tensions, India crop damage.

5. Visual Market Overview

European Indices: Real-Time Performance

Index% ChangeTrend
FTSE 100-0.55%▼
DAX+0.73%▲
CAC 40-1.28%▼
Euro Stoxx 50-0.82%▼

US Futures: Pre-Market

Index% ChangeTrend
S&P 500+0.11%▲
NASDAQ 100+0.19%▲
Dow Jones0.00%–

Crypto Market Cap & Leaders

AssetPrice24h % ChgMarket Cap (Tn)
Bitcoin$106,604-3.03%$2.07
Ethereum$3,597-6.64%$0.42
Total Cap-4.27%$3.45

6. Key Insights & Takeaways

Key Finding:

  • Cautious risk tone: Defensive sectors outperform, cyclicals and tech under pressure.
  • Central bank policy in focus: ECB, Fed, and RBA all signal “wait-and-see”; data delays add uncertainty.
  • Crypto volatility: Sharp drawdowns after leveraged liquidations; ETF and regulatory news in focus.
  • Commodities mixed: Oil up on OPEC+ and geopolitics; gold consolidates; agri markets watch weather/trade.

7. What to Watch Today

  • Eurozone Unemployment (09:00 UTC): Any surprise could move EUR and European stocks.
  • US JOLTS & Factory Orders (15:00 UTC): Key for US labor and industrial outlook; watch for volatility.
  • Fed Speeches (17:00/19:00 UTC): Any policy hints could shift rates, USD, and equities.
  • OPEC+ Meeting: Oil and energy stocks sensitive to any output policy headlines.
  • Major Earnings: Uber, Pfizer, AMD, Starbucks (US); Allianz, ASML, BNP Paribas, Adyen (EU).

Conclusion

Global markets start Tuesday on the defensive, with European equities lower, US futures mixed, and Asian markets broadly down. Central bank policy uncertainty, delayed US data, and geopolitical risks are driving a risk-off tone. Crypto and commodities remain volatile, and today’s economic calendar is packed with events that could trigger sharp moves across asset classes. Stay alert for sector rotation, currency swings, and headline-driven volatility as the trading day unfolds.

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