Swiss Watch Exports Continue on Downward Trend in U.S. Tariff Fallout

Swiss watch exports fell by 4.4% in October compared to the same month last year, primarily due to a decline in the U.S. market. This downturn reflects ongoing challenges faced by the luxury watch sector amid changing trade dynamics and tariffs.

Nvidia's record earnings have positively impacted U.S. stock futures and international equities, while the U.S. dollar strengthened as investors adjusted their expectations regarding a potential Federal Reserve rate cut next month.

Gold prices have declined due to a stronger dollar and diminishing expectations for a Federal Reserve rate cut in December. This shift reflects investor sentiment as they adjust their positions in response to changing economic indicators.

India's resilient domestic economy is providing the country with leverage to negotiate a trade deal with the U.S., according to sources. This positive economic backdrop is seen as a crucial factor in enhancing India's position in discussions with American counterparts.

Oil prices increased after a previous decline of 2%, as traders considered the risks associated with Russian supplies and a mixed report on U.S. inventories. The market remains sensitive to geopolitical developments and supply dynamics.

The S&P 500 futures experienced a rally following Nvidia's earnings report, which exceeded expectations. Investors are also focused on the delayed September nonfarm payrolls data, which is set to be released this morning. This combination of factors is influencing market sentiment as traders assess the economic landscape.

Eurozone government bond yields increased, following the trend of U.S. Treasury yields. This rise is attributed to improved market sentiment, which has led to a decreased demand for safe-haven assets like bonds.

JD Sports has reported that its profits are expected to be at the lower end of consensus estimates due to challenging macroeconomic conditions and consumer volatility as it approaches the crucial festive business period.