TREE NEWS reports: The offshore yuan strengthened past 6.66 per dollar in late New York trading on Thursday, quoted at 6.6569 per dollar, up 48 pips from Wednesday’s close. The currency traded in a 6.6626-6.6560 range during the session, its first break of the 6.66 level since April 2024, and now sits near levels last seen in April 2022.
TREE NEWS reports: Spot gold fell 1.13% to $4,201.15 an ounce in late New York trade on Thursday, Oct. 29, extending a broad decline as it traded in a $4,005.47–$4,068.92 range. Spot silver dropped 3.4% to $52.1440 an ounce. COMEX copper futures fell 1.12% to $6.5965 a pound.
TREE NEWS reports: The Bloomberg Electric Vehicle Price Return Index fell 1.59% to 2,901.57 on Thursday, October 29, after a slight rise in early Asia-Pacific trading gave way to a steady decline. Aurora Innovation dropped 13.46%, Mobileye Global fell 9.21%, Hesai Group lost 6.22% and Lucid Group slid 6.16%. Among the eight gainers, Porsche P911 rose 3.22%, STMicroelectronics added 1.93% in Paris and Volvo gained 0.95%.
TREE NEWS update: Kyiv came under a ballistic missile attack on 29 March, with successive explosions heard across the Ukrainian capital, Mayor Vitali Klitschko said. He urged residents to remain in shelters as the strikes continued. No casualty or damage figures were immediately given.
TREE NEWS reports: AMD’s senior credit default swap spreads widened by 11 basis points, marking the largest single-day increase in four years. The move reflects heightened credit market concern around the chipmaker, though the material did not specify a trigger or the levels at which the CDS now trades.
TREE NEWS reports: The MSCI Emerging Markets stock index fell 1% on the day, while the developing-nation currency index slipped 0.1%. The moves reflect a broad decline across emerging-market equities and currencies.
TREE NEWS reports: The Nasdaq 100 ETF dropped 1.4% on the day. The decline in the technology-heavy index fund reflects a broad pullback in U.S. equities. No further details on the move or its drivers were provided.
TREE NEWS reports: Alphabet (GOOGL) closed down 13% on the day, erasing $479 billion in market value. The single-session drop is one of the largest one-day losses of value in US corporate history.
TREE NEWS reports: The S&P 500 closed down 0.3% in preliminary trading, with telecom the worst-performing sector at -6.6% and tech down 1%, while health care and real estate each gained 2.3%. The Nasdaq 100 fell 1.4%, led by Alnylam’s 24.4% drop, Fortinet’s 20.7% decline and Marvell’s 13.2% slide; Alphabet A shares lost 12.6%. The North American tech software ETF fell about 3.5%.
TREE NEWS update: The U.S. Department of Energy said companies will borrow 16.75 million barrels of the 17 million barrels of crude oil offered from the Strategic Petroleum Reserve. The figure represents nearly all of the volume made available in the SPR loan program.
TREE NEWS update: Yemen’s Houthi movement said it attacked the Ras Tanura oil refinery in Saudi Arabia. The claim, issued by the Houthis, did not specify the timing of the strike or the extent of any damage. No independent confirmation or Saudi government comment was immediately available.
TREE NEWS reports: Ares Management Corp. is steering clear of financing the high-performance processors that run advanced AI models, instead investing in the data centers that house those chips. A person familiar with the matter said the asset manager worries that GPU investments could leave it stuck with assets facing obsolescence shortly after deployment.
TREE NEWS update: Fonterra has raised its forecast farmgate milk price for the 2026/27 season, narrowing the range to NZ$9.00–10.50 per kilogram of milk solids. The New Zealand dairy cooperative announced the updated guidance, tightening the band from its previous forecast. The figure sets the expected payout to farmer shareholders for the season.
TREE NEWS reports: The Yangshan copper premium, which measures the amount Chinese importers pay above the London Metal Exchange price, jumped above $200 per tonne on Wednesday and held near that level, setting the highest reading in Fastmarkets data going back to 2017. The premium has surged sharply over the past few months.
TREE NEWS reports: US money market fund assets slipped to $7.9 trillion, the Investment Company Institute said. The figure marks a decline in total money market fund holdings, which the ICI tracks as a weekly measure of cash parked in short-term instruments. No further breakdown of the move was provided.
TREE NEWS update: The Houthi military said it will issue a statement at 19:50 GMT (03:50 Beijing time) announcing military operations in Saudi Arabia. No further details on the nature or scope of the operations were provided in the announcement.
TREE NEWS reports: The ICE US Dollar Index fell 0.16% to 102.033 in late New York trading on Thursday, October 29, after trading in a range of 102.448 to 101.946 during the session. The index hit its daily high at 21:19 Beijing time before dropping sharply. The Bloomberg Dollar Spot Index edged up 0.03% to 1224.39, also having touched its session high at 21:19.
TREE NEWS update: D.R. Horton reported fourth-quarter earnings per share of $2.67, below the $3.02 analyst average, and said it will keep offering elevated sales incentives to attract weak buyer demand. The largest U.S. homebuilder expects home deliveries to fall next fiscal year, projecting as few as 79,000 units in fiscal 2027 versus about 84,000 this year.
TREE NEWS reports: General Brad Cooper, the top US commander in the Middle East, traveled to the White House on Thursday to brief President Trump in person on military options against Iran, a rare face-to-face presentation. Defense Secretary Pete Hegseth and Chairman of the Joint Chiefs Dan Caine attended, along with other cabinet members. The administration has told Gulf Arab states to prepare for a short, intense military operation after the midterm elections, while Vice President JD Vance has contacted a hardline Iranian figure to try to restart peace talks.
TREE NEWS reports: The Bloomberg Grains Subindex rose 0.06% to 30.1125 at the New York close on Thursday, Oct. 29, after falling to 29.8514 at 23:19 Beijing time, near its July 2 low of 29.4769, before a short-term rebound. CBOT corn futures slipped 0.11% and soybean futures fell 0.28%, while CBOT wheat futures rose 0.71% after a brief rally at 23:21.