Expect Strong Demand for Non-US Exposure: Boal

Meta Platforms is reportedly in discussions to invest billions in Google's AI chips, aiming to compete with Nvidia's dominance in the artificial intelligence sector. This potential deal highlights Meta's strategic shift towards enhancing its AI capabilities and positioning itself as a formidable player in the market.

Treasury yields have decreased, with the 10-year yield approaching 4%, following weak labor market data and comments from Federal Reserve Governor Stephen Miran that have heightened expectations for an interest rate cut next month.

Home price growth in the US slowed in September as economic uncertainty led potential buyers to withdraw from the market, reflecting a cautious approach amid rising mortgage rates and affordability challenges.

Wholesale prices increased in September, according to the Labor Department, which may keep the Federal Reserve's preferred inflation measure above its target ahead of the upcoming policy meeting. This rise in wholesale prices suggests persistent inflationary pressures in the economy.

US private payrolls decreased by an average of 13,500 per week in the four-week period ending November 4, as reported by ADP Research. This decline highlights ongoing challenges in the labor market, reflecting a potentially weakening economic environment.

US retail sales experienced a modest increase of 0.2% in September, following a stronger 0.6% rise in August, indicating a slowdown in consumer spending. Concurrently, the producer price index (PPI) rose by 0.3%, reversing a previous decline, suggesting upward pressure on wholesale prices.

Copper prices surged towards $11,000 a ton in London as traders reacted to reports indicating that Ukraine has agreed to terms for a US-brokered peace deal, enhancing market sentiment amid tightening supply conditions.

Katrina Dudley, Senior Investment Strategist at Franklin Templeton Public Markets, highlighted the prevailing skepticism in the markets and the challenges facing the Federal Reserve in potentially cutting interest rates in December. She discussed these issues during an interview with Bloomberg's Lisa Abramowicz and Dani Burger.