TREE NEWS reports: A selloff in technology stocks following the US midterm elections sent the Nasdaq down more than 5%, with the chip index diving 12% and SanDisk falling 22%, while the VIX spiked and gold and Treasuries rose. The Bank of England raised rates by 25 basis points to 4%, its first hike since 2023, and forecast inflation near 5% by mid-next year. Cleveland Fed President Hammack said rates need to reach restrictive levels and favored more frequent, smaller hikes.
TREE NEWS reports: Japan’s labor cash earnings rose 4.6% year-on-year in September, exceeding the 3.8% expected by economists and matching the prior reading of 3.8%. The stronger-than-expected wage growth came in above forecast, with the previous month’s figure unrevised at 3.8%.
TREE NEWS update: LlamaRisk, Aave’s risk manager, will cap how much can be borrowed on the lending protocol over set periods, CEO Adam Sadowski said, six days after a wallet tied to the Binance hack drew a $44.6 million ETH loan from Aave. The move introduces borrowing speed limits on the DeFi lender in response to that withdrawal.
TREE NEWS reports: USDC Treasury minted 250 million USDC on the Solana network at 07:09 Beijing time on November 6. The newly minted tokens are valued at approximately $250 million. The transaction was flagged by the on-chain tracking service in a post on X.
TREE NEWS reports: Tiger Global’s flagship hedge fund dropped 8.5% in October, leaving its year-to-date return roughly flat, as concerns over artificial intelligence investments hit stock-picking funds. Whale Rock’s flagship fell about 8%, cutting its 2023 gain to about 34%, while D1 Capital Partners’ equity portfolio lost 4.4% and Atreides Management’s flagship slipped 9.5% but remains up about 43% this year. Coatue Management gained 0.2%, one of the few steady performers; the firms declined to comment.
TREE NEWS update: Japan approved the allocation of ¥10 billion in reserve funds for cybersecurity, the government announced. The move directs existing fiscal reserves toward strengthening the country’s cyber defenses. No further details on the specific programs or agencies receiving the funds were provided.
TREE NEWS reports: Nasdaq 100 stock index futures widened their decline to 1% in early Asia-Pacific trading on Friday. The move marked an extension of losses for the tech-heavy index’s futures during the session.
TREE NEWS update: The U.S. Internal Revenue Service published its 2027 long-term capital gains tax brackets for assets held more than one year. Single filers with taxable income below $51,050, or $102,100 for married couples filing jointly, will still qualify for the 0% long-term capital gains rate. The agency also raised dozens of other thresholds, including federal income tax brackets, estate and gift tax exemptions, and Earned Income Tax Credit eligibility standards.
TREE NEWS reports: S&P 500 futures fell 0.6% while Nasdaq futures dropped 0.8%, pointing to a lower open for U.S. equities. The pre-market moves in the two index futures contracts were reported without further detail on the drivers behind the declines.
TREE NEWS reports: US stock index futures fell more than 0.3% in early Asia-Pacific trading on Friday, ahead of the release of the US nonfarm payrolls report. The move reflects investor caution before the key labor market data, which is closely watched for signals on the Federal Reserve’s interest rate path.
TREE NEWS update: Anthropic’s Claude now includes a finance assistant that analyzes spending from linked accounts in the U.S., the company announced. Anthony Pompliano, founder of the startup he says was copied, publicly accused Anthropic of replicating his product. The dispute centers on the new personal-finance feature, which connects to users’ financial accounts to review their spending.
TREE NEWS reports: Samsung Electronics fell 12% and SK Hynix dropped 15% in pre-market trading on South Korea’s Nextrade platform. The two chipmakers’ sharp declines came in pre-market activity on the alternative trading system ahead of the regular session. No reason for the moves was given in the material.
TREE NEWS reports: Silver Lake and Saudi Arabia’s Public Investment Fund are in talks to acquire Unity Software, the game-engine maker. No deal terms, valuation or timeline were disclosed. Unity is a US-listed company; the reported approach would take it private if completed.
TREE NEWS update: Reth’s maintainers rated the release carrying a fix for a state root bug as high priority, and Base told node operators to upgrade to v1.5.3. Base said it had recomputed its state root and found it correct, adding that users were unaffected.
TREE NEWS update: Former Turkish minister Kaya has been arrested as part of an investigation into the fund industry, Turkish media reported. No further details on the charges or the scope of the probe were provided. The arrest marks a rare case of a former cabinet member detained in a financial investigation.
TREE NEWS reports: About 3 million deaths worldwide between 2016 and 2023 were heat-related, and roughly 68% of them can be attributed to climate change, according to the latest Lancet Countdown on Health and Climate Change report. The report calls for climate change to be declared a global health emergency and for health considerations to be fully incorporated into national policymaking.
TREE NEWS reports: Chinese banks including Bank of Nanjing have launched promotional fee discounts on gold accumulation products, with trading fees cut to as low as 10% of the standard rate, as domestic gold accumulation prices rebounded after falling to the 800 yuan-per-gram range. State-owned, joint-stock and city commercial banks have rolled out phased fee waivers and new order-placement features that execute automatically at target prices. Investors are weighing spread mechanics and divergent outlooks on gold prices.
TREE NEWS reports: The Nasdaq 100 ETF closed down 6.49% on Thursday (Nov. 5), leading declines among major US asset-class ETFs, with the emerging markets ETF down 5.79% and the Russell 2000 ETF down 4.59%. The S&P 500 ETF fell 4.41% and the Dow ETF dropped 3.53%. Defensive and commodity funds gained, with the Brent oil fund up 3.53%, the gold ETF up 0.81% and the volatility index long position up 30.13%.
TREE NEWS reports: Several Chinese fund managers said the equity-market swings seen so far this year are driven by sentiment and trading flows rather than a reversal in fundamentals, with earnings quality at quality leaders steadily improving. They pointed to the low-interest-rate environment and improvements in the capital market’s institutional framework as factors systematically raising the long-term allocation value of equity assets.
TREE NEWS reports: Chinese mutual fund managers are emphasizing investor communication focused on emotional support and risk-control awareness as a July market pullback weighed on sentiment. Recent content from fund education platforms has shifted away from routine sector analysis and market views toward strategies for coping with volatility. The change comes as investor engagement becomes a key challenge for public fund institutions.