European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Gold Holds Near $4,400 as Fed Hike Bets Rise 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
UK House Prices Fall for First Time Since 2023 
Asian Stocks Mixed as Korean Chipmakers Rally 
China Expands Influence in Global Gold Market 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Yen Rebounds as BOJ Rate Hike Bets Rise 
OPEC+ Expected to Hold October Oil Output Steady 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
China to Inject $45 Billion Into State Financial Institutions 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
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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.
