ECB’s Nagel: German growth likely to accelerate in Q4

TradingKey - On November 12, gold prices (XAUUSD) extended their recent decline, falling further below $4,000 in early Asian trading and touching an intraday low near $3,968. Earlier, higher-than-expected U.S. October CPI data, combined with hawkish signals from Federal Reserve officials, significantly fueled market expectations for a December rate hike, with a stronger U.S. dollar and rising U.S. Treasury yields placing further pressure on gold prices.

Japanese and South Korean stock markets opened with turnover at high levels, with the KOSPI edging up 0.43%, Samsung jumping 1.7%, and the Nikkei holding firm at 61,000.

On Wednesday, November 11, Eastern Time, U.S. stocks moved higher. CoreWeave's earnings report and raised full-year guidance boosted AI-related stocks, Nvidia rebounded after two consecutive sessions of declines, and subscription demand for Anthropic's IPO also provided support to market sentiment. At the close, the Dow Jones Industrial Average rose 0.49% to 52,486.49; the Nasdaq Composite Index gained 1.60% to 25,466.19; and the S&P 500 Index climbed 1.31% to 7,619.38.

On November 11, Eastern Time, memory stocks surged, with SanDisk (SNDK) rising 13.95%, Micron Technology (MU) gaining 11.03%, Seagate Technology (STX) climbing 9.94%, SK Hynix (SKHY) advancing 9.40%, and Western Digital (WDC) up 7.50%. Following a month-long pullback, Morgan Stanley noted a clear divergence between supply chain orders and capital market sentiment, stating that the valuation decline has improved the risk-reward profile for memory stocks, with a particular focus on Micron Technology and SanDisk.

TradingKey - On November 11, Eastern Time, the three major U.S. stock index futures rose across the board, with Nasdaq 100 futures leading the gains.