GoAI Market Morning Wrap - 8th Nov

Stock Market  

Last night into this morning, with signs of U.S. government shutdown easing, U.S. stocks staged "V-shaped reversal," S&P and Dow flipped positive in late session. That said, Nasdaq just shy of green still posted largest weekly drop since early April "reciprocal tariffs."  

 

At close, S&P 500 up 0.13% to 6,728.8 points; Nasdaq Composite down 0.21% to 23,004.54 points; Dow Jones Industrial Average up 0.16% to 46,987.1 points.  

 

S&P down 1.63% weekly, Nasdaq down 3.04%, Dow down 1.21%.  

 

This month's nonfarm report still absent, U.S. stocks early session plunged again on University of Michigan survey showing "U.S. consumer confidence to lowest in over three years."  

 

But intraday, Senate Democrats proposed shrinking shutdown-end demands to one-year extension of expiring health subsidies. Senate Democratic leader Schumer called proposal "simple compromise," said could pass Senate "in hours." Republican leader John Thune called it "hopeless," but on Capitol Hill said shows "progress."  

 

Stock buyers then bet on "government reopening," S&P 500 reversed early low down 1.3%. Senators exchanging proposals seen as positive signal.  

 

As U.S. stock leader and AI trade rep, Nvidia intraday once down nearly 5%, barely flipped positive in final moments. Microsoft missed green by hair, hit 8-day losing streak, market cap evaporated over $330 billion. Longest streak for tech giant since November 2011.  

Global Hotspots  

Trump says hopes to continue Budapest meeting with Putin  

 

Local time 7th, President Trump said hopes to continue meeting Russian President Putin in Hungarian capital Budapest. He said Putin meeting under discussion. Trump said he and Hungarian PM Orban agree Russia-Ukraine conflict ends soon.

 

Trump met visiting Hungarian PM Orban at White House that day, expected discuss trade, energy, Ukraine etc.  

 

EU plans to ease AI regulation  

 

Under pressure from tech giants and U.S. government, European Commission plans to suspend parts of its Artificial Intelligence (AI) Act. EU to decide November 19 on so-called "simplification plan," easing some digital rules including AI Act effective last year.  

 

Japan's three megabanks to start yen stablecoin testing  

 

Japan's three megabanks (MUFG, SMBC, Mizuho) announced Friday to start yen stablecoin pilot this month.

 

Three banks each issue standardized mutually interchangeable stablecoins for seamless exchange with corporate clients. Three banks serve over 300,000 major corporate clients combined, significantly boost stablecoin adoption in Japan.  

Company News  

Meta confirms $600 billion three-year investment plan  

 

U.S. tech giant Meta announced Friday confirms company to invest $600 billion in U.S. by 2028 for AI data centers and other infrastructure, talent recruitment etc. Company also said besides building data centers, partnering with local utilities for water and power needed. Company said so far added 15 GW power to U.S. grids via direct investment.  

 

U.S. rare earth "only child" warns investors: Don't blindly follow Most projects unprofitable  

 

U.S. largest rare earth producer MP Materials warns investors be cautious with other rare earth projects, citing severe industry economics. MP CEO James Litinsky on Thursday (November 8) earnings call: "Most projects hyped today, no matter how high prices go, almost can't make money."  

 

Berkshire plans yen bond issuance  

 

Warren Buffett's Berkshire Hathaway hired banks to prepare potential yen-denominated bond issuance. If proceeds, second yen bond this year. Sparks market speculation: Berkshire considering bigger Japan investment layout.  

 

U.S. uranium enrichment firm stock surges Trump sons in convertible issuance  

 

Friday U.S.-listed ASP Isotopes up 17.49%, news President Trump's two sons—Eric and Donald Jr. in convertible investment in ASP Isotopes wholly-owned uranium enrichment subsidiary Quantum Leap Energy.  

Forex & Commodities  

International oil prices up November 07.

 

At close that day, NYMEX WTI crude futures current month continuous up $0.32 to $59.75 per barrel, gain 0.54%; London Brent crude futures current month continuous up $0.25 to $63.63 per barrel, gain 0.39%. COMEX gold futures current month continuous up $18.80, gain 0.47%, to $4,009.8 per ounce.  

 

New York close, USD index down 0.16% to 99.55, most non-USD currencies up.  

Key Events  

Global central banks "rebalance": Gold rises, dollar ebbs  

 

Deutsche Bank research shows as of October 2025, gold share in global central banks' "FX + gold" reserves jumped from 24% end-June to 30%. Contrast, dollar share slipping from 43% to 40%. Change reflects strategic asset reallocation, signals potential key turning point in global monetary system.

 

DB further: If gold to $5,790/oz, with holdings unchanged, two assets' reserve shares equal.  

Forex & Commodities  

Bitcoin 24h up 0.66% to $102,549.72.  

 

Ethereum up 3.41% to $3,456.08.  

 

XRP up 4.32%, BNB up 3.36%, Solana up 3.68%.  

 

Dogecoin up 9.79%, Cardano up 8.27%.  

Key Events  

JPMorgan: Post-deleveraging storm Bitcoin shows "huge potential," appeal surpassing gold  

 

JPMorgan claims after heavy deleveraging, Bitcoin now has "significant upside potential," looks more attractive than gold.  

 

October 5, Bitcoin hit $126,000 all-time high. But by month-end, price plunged over 20%. Early this week, briefly below $100,000. Drop so deep that volatility-adjusted, Bitcoin now very cheap vs gold.  

 

Prompts JPMorgan strategist: "Thus, this mechanical analysis suggests Bitcoin huge upside in next 6-12 months."