ASX 200 flat, S&P 500 snaps 8-day winning streak
Get up to date on overnight market activity and the big events for the day.
ASX 200 futures are trading 5 points lower, down -0.07% as of 8:20 am AEST.

S&P 500 SESSION CHART

MARKETS
Another modified (aka shorter) Morning Wrap. Cool insights will be back next week!
- S&P 500 snaps 8-day win streak, the best rally since 2021
- A 9-day run for the S&P 500 has only happened 31 times in the last 95 years
- US 10-year yield rallies 14 bps, marking a sizeable bounce from 4.5%
- All S&P 500 sectors lower, led by growth and yield-sensitive sectors
- Higher-for-longer Fed and yield bounce weighed on equities
- Mega cap tech stocks are now outperforming small caps by the largest margin since the Dot Com Bubble
- AAII sentiment spread marks largest week-over-week increase in bullish sentiment in its survey history, bearish sentiment below average for first time in eight weeks
- Markets more focused on Treasury auctions as a potential driver of yields (Bloomberg)
- Investors worry further declines in yields could keep Fed in a hawkish stance (Reuters)
- Japanese investors bought most Treasuries in six months in September (Bloomberg)
- China ask brokerages to restrict leverage for stock trades, sources say (Reuters)
- IPO market unusually quiet in historically busy period of November (CNBC)
- Bitcoin reached 18-month high of US$37,000 on regulatory optimism (Yahoo)
STOCKS
- Meta CEO Mark Zuckerberg dumps US$35m worth of stock, first sale in two years
- Chinese local media says Nvidia plans to release three new chips (Reuters)
- Affirm shares surge on quarterly earnings beat (Reuters)
CENTRAL BANKS
- Fed's Bostic and Barkin says economy has yet to feel the full impact of hikes (Bloomberg)
- BOJ tweaked YCC to maintain market functioning (Reuters)
- BOJ Ueda says central bank will move carefully on raising interest rates (FT)
- Former BOJ executive believes NIRP will end as early as January (Reuters)
- ECB VP de Guindos says rate cut talk clearly premature (Bloomberg)
- ECB's Villeroy says central bank done with rate hikes unless more shocks (Bloomberg)
- Powell says inflation has given policymakers a few “head fakes” and that the Fed will not hesitate to hike further (CNBC)
- Powell elaborates on the fed's current, conditional pause
GEOPOLITICS
- Israeli troops in heart of Gaza City as G7 urges humanitarian pause (Reuters)
- Blinken says Palestinian Authority should rule unified Gaza and West Bank (FT)
- US fires upon weapons depot in Syria used by Iran, citing retaliation for attacks (Reuters)
- Biden, Xi may resume of military-to-military communications to global stability (Axios)
- Bipartisan group of US lawmakers want Biden administration to raise tariffs on Chinese-made vehicles (Reuters)
ECONOMY
- China slips back into deflation on lower food prices and soft demand (Reuters)
- Japan could give $13bn in aid for chips and generative AI in stimulus budget (Nikkei)
- Japan's current account surplus tripled to record in H1 (Bloomberg)
KEY EVENTS
ASX corporate actions occurring today:
- Trading ex-div: SSR Mining (SSR) – $0.08, Janus Henderson Group (JHG) – $0.6
- Dividends paid: Newmark Property REIT (NPR) – $0.01
- Listing: Great Dirt Resources (GR8) at 12:30 pm, Tolu Minerals (TOK) at 12:00 pm
Economic calendar (AEDT):
- 11:30 am: RBA Statement of Monetary Policy
- 6:00 pm: UK Q3 GDP
- 11:30 pm: ECB President Lagarde Speech
- 2:00 am: US Consumer Sentiment
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Livewire and Market Index's pre-opening bell news and analysis wrap. Available weekday mornings and written by Kerry Sun.
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