Asian Stocks Gain Amid Iran Conflict Uncertainty 
U.S. Stock Futures Steady as Iran Reviews U.S. Ceasefire Proposal 
UK Consumer Confidence Weakens Amid Middle East Conflict and Rising Living Costs 
U.S. Futures Slide as Iran Denies Nuclear Talks with Washington 
Oil Prices Rebound as Iran Denies U.S. Talks Amid Gulf War Supply Fears 
Middle East War Rattles Global Markets as Oil Tops $100 and Dollar Surges 
Federal Reserve Balance Sheet Reduction: Brookings Research Outlines Possible Path Forward 
Bank of Japan Unveils New Inflation Gauge to Support Case for Future Rate Hikes 
Gold Prices Climb as Middle East Ceasefire Talks Stir Market Optimism 
Wall Street Slides as Iran War Uncertainty, Oil Surge, and AI Fears Rattle Markets 
Trump Tariffs Show Minimal Economic Impact but Boost Federal Revenue, Study Finds 
Japan Eyes Oil Futures Intervention to Stabilize Yen Amid Middle East Crisis 
Asian Currencies Stay Muted as Dollar Holds Firm Amid Iran Uncertainty 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
Wall Street ended higher on Friday as investors digested U.S. President Donald Trump’s latest comments on China and encouraging earnings from regional banks helped ease concerns over credit risks. Trump acknowledged that his proposed 100% tariffs on Chinese goods would be unsustainable but continued to blame Beijing for stalled trade talks, following China’s move to tighten control over rare earth exports. The tariffs and new export restrictions on critical software are set to take effect on November 1.
Market sentiment improved after a turbulent week for financial stocks. Regional bank shares rebounded sharply following Thursday’s selloff triggered by Zions Bancorporation’s loan losses and Western Alliance’s lawsuit involving Cantor Group V, LLC. Analysts suggested fears over credit quality were overstated, with most banks showing strong fundamentals. Truist Financial gained 3.7% after reporting higher third-quarter profits, while Zions climbed 5.8%, Western Alliance rose 3.1%, and Fifth Third Bancorp added 1.3%.
The S&P Composite 1500 Regional Banks Index advanced 1.8% after a 6% drop the previous day, while the broader S&P 500 financial sector index gained 0.8%. Solid results from JPMorgan and other large banks boosted overall optimism for the third-quarter earnings season. Analysts now expect S&P 500 earnings to grow 9.3%, up from 8.8% earlier in October, according to LSEG I/B/E/S data.
The S&P 500 rose 0.53% to 6,664.01, the Nasdaq gained 0.52% to 22,679.98, and the Dow Jones Industrial Average climbed 0.52% to 46,190.61. Nine of the 11 major S&P sectors advanced, led by consumer staples, up 1.23%. For the week, the S&P 500 rose 1.7%, the Nasdaq 2.1%, and the Dow 1.6%. Market volatility eased, with the CBOE VIX dropping to 21.5 points. Tesla gained 2.5%, Apple rose 2%, and Amazon slipped 0.7%. Eli Lilly fell 2% after Trump vowed to lower weight-loss drug prices, while State Street declined 1.4% on weaker net interest income.
