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Monday, November 10

Noteworthy macro moves today: Gold +2.4%. Nasdaq 100 Index (US) +1.3%. Copper +1.7%. Noteworthy US mega-cap moves today: NVIDIA Corp (NVDA) +3.3%. Broadcom Inc (AVGO) +2.4%. Alphabet Inc (GOOG) +2.2%.

US equity markets are trading higher amid growing optimism that lawmakers in the U.S. have made progress toward ending a prolonged government shutdown, which has lasted for 40 days. The Senate's recent bipartisan vote to fund federal agencies through January and guarantee back pay for affected employees is contributing to this positive sentiment.

In Japan, the Bank of Japan indicated it may continue gradually raising interest rates as economic conditions improve but remains cautious due to uncertainties surrounding inflation and growth prospects. This follows data showing an increase in both leading and coincident economic indices, suggesting ongoing recovery despite some labor market pressures.

China reported mixed producer price index results with a year-on-year decline of 2.1% in October—slightly better than expected—and consumer prices rising by 0.2%, marking their first increase since June; these developments reflect persistent deflationary trends alongside signs of modest consumption recovery amidst broader global economic challenges.

SPDR Gold Shares (GLD) [+2.4%]
SPDR Gold Shares (GLD) experienced a price increase of 2.4% since Friday. Recent social media discussions highlighted a report from the China Gold Association, noting that bar and coin consumption reached over 350 tons in the first nine months of 2025, marking a significant year-over-year increase. However, total gold consumption for the same period declined. Additionally, the Shanghai Gold Exchange announced plans to waive transaction fees for certain gold contracts, which may influence trading activity. Concurrently, gold prices surged to a two-week high amid signs of a weakening U.S. economy, with deteriorating consumer sentiment driving demand for safe-haven assets. Notably, silver prices rose by 3.7%, reflecting a historical correlation with gold and potentially contributing to GLD's upward movement.

Bitcoin (BTC/USD) [+1.7%]
Bitcoin (BTC/USD) has risen significantly today, reflecting a broader upswing in global equity markets fueled by optimism regarding a potential resolution of the U.S. government shutdown. This positive market sentiment has enhanced risk appetite, contributing to Bitcoin's daily return. Concurrently, social media discussions noted a surge in consumer spending in New York City, reminiscent of past trends during the meme stock frenzy. Users highlighted Bitcoin's defense of a crucial support level and shared insights on chart patterns suggesting key price levels to monitor. Additionally, Caroline Pham, acting CFTC Chair, confirmed ongoing discussions about launching leveraged spot crypto trading for Bitcoin and Ethereum on regulated exchanges, potentially starting next month. Robert Kiyosaki expressed bullish sentiments for Bitcoin, predicting a rise to $250K. In terms of inflation rates, Bitcoin's annualized rate stands at 0.825%, slightly higher than Ethereum's 0.775%.

DEO | +7.6% | +16.4B
Diageo PLC | Distillers & Vintners
Diageo PLC has appointed Dave Lewis as CEO and Executive Director, effective January 1, 2026. Lewis, currently Chair of Haleon and a non-executive board director of PepsiCo, will transition from his role at Haleon by the end of December 2025. Nik Jhangiani will serve as Interim CEO until then and will return to his role as CFO afterward. This leadership transition comes amid investor concerns regarding the prolonged search for a new CEO. Social media discussions reveal that Emma Walmsley, the outgoing CEO of GSK, is among the candidates being considered for the position. These developments reflect ongoing uncertainty surrounding Diageo's executive leadership and potential management structure shifts.

GRAB | +6.8% | +1.6B
Grab Holdings Ltd | Passenger Ground Transportation
Grab Holdings Ltd has announced definitive agreements to invest $60 million in Vay Technology GmbH, resulting in a minority equity interest upon closing. The company plans to increase its stake by an additional $350 million within the first year post-deal closure, aimed at supporting Vay's expansion efforts. Concurrently, social media discussions highlight a potential merger between GoTo and Grab, spurred by comments from Indonesia’s state secretary regarding the involvement of the country’s sovereign wealth fund in negotiations. Analyst Mark Mahaney from Evercore ISI has expressed a bullish outlook on Grab, assigning a price target of $8, further bolstering positive sentiment surrounding the stock.

RKLB | +5.8% | +1.6B
Rocket Lab USA Inc | Aerospace & Defense
Rocket Lab USA Inc is experiencing a notable price increase, aligning with broader market movements. The company is scheduled to announce its earnings results on Monday after market close, following a previous quarter where it exceeded revenue expectations by 7%, reporting $144.5 million—a 36% year-on-year increase. For the upcoming quarter, analysts project revenue growth of 45% year-on-year to $151.9 million, with an expected adjusted loss of -$0.06 per share. Analysts have reaffirmed their estimates over the past month. Additionally, social media discussions highlight anticipation for the maiden launch of the Neutron rocket and excitement surrounding the ESCAPADE mission, which may influence market sentiment. Notably, Stifel analyst Erik Rasmussen raised Rocket Lab's price target to $65 from $55, maintaining a Buy rating ahead of the earnings report. The Russell 2000 Index's increase further reflects the positive market environment supporting Rocket Lab's recent price movement.

NVDA | +3.2% | +154.1B
NVIDIA Corp | Semiconductors
NVIDIA Corp is experiencing a price increase, moving in tandem with the broader market. The Nasdaq 100 Index has risen, reflecting positive sentiment that often influences technology stocks, including NVIDIA. The company is set to play a crucial role in a $2 billion Sovereign AI Hub in Kazakhstan, an initiative aimed at establishing a robust AI ecosystem. This project underscores the strategic importance of NVIDIA's exascale AI infrastructure, as highlighted by Deputy Prime Minister Zhaslan Madiyev. Additionally, CEO Jensen Huang noted "soaring demand" for the company’s new Blackwell AI chips, which suggests continued growth driven by strong market interest. Social media discussions emphasize a bullish sentiment around NVIDIA, with projections from Citi suggesting a price target increase.

MU | +4.7% | +13.0B
Micron Technology Inc | Semiconductors
Micron Technology Inc has seen a notable price increase, aligning with the broader market trend. Mizuho analyst Vijay Rakesh maintained an Outperform rating on Micron, setting a price target of 265 following discussions with company leadership, reflecting confidence in its strategic direction. Additionally, social media discussions highlighted Nvidia's CEO emphasizing strong demand for AI chips, which may benefit semiconductor stocks like Micron. Posts noted a supply and demand imbalance affecting memory stocks, including Micron, while sentiment suggested the stock is undervalued despite its recent rally. The Nasdaq 100 Index's rise further underscores the positive momentum influencing Micron's price action.

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