Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
Asian Stocks Rally as Japan and South Korea Reach Record Highs on US-Iran Peace Deal 
Oil Prices Steady as U.S.-Iran Truce Uncertainty and Middle East Tensions Keep Markets on Edge 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
Trump and Iran Sign Framework Peace Deal in France Amid Ongoing Middle East Tensions 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Asian Currencies Steady as Dollar Holds Firm Ahead of Fed Decision and US-Iran Deal Details 
Canada Imposes 10% Tariff on Canned Vegetable Imports to Protect Domestic Industry 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
Italy’s Economy Outpaces Eurozone Peers as Investment Spending Fuels Growth 
Asian Stocks Surge as Oil Prices Fall and Strong US Dollar Weighs on Markets 
Trump Says No Hormuz Strait Tolls During 60-Day Iran Ceasefire 
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.
