Global Markets Rally Amid Shutdown Deal Progress

Asian markets rose on Monday after a tech-fuelled decline last week, with South Korea's Kospi leading gains, driven by banks and insurance stocks. China's October inflation data, released over the weekend, came in above expectations, with headline consumer inflation at 0.2% year on year. The Bank of Japan's meeting minutes revealed a potential near-term rate hike, causing Japanese government bond yields to rise. Other Asian markets, including Japan's Nikkei 225, Hong Kong's Hang Seng index, and Australia's S&P/ASX 200, also saw gains. The positive trend in Asian markets contrasted with the US, where the Nasdaq Composite continued to fall, while the Dow Jones Industrial Average and S&P 500 inched into positive territory after a new plan to end the government shutdown was proposed.

The article discusses the recent pullback in tech stocks and whether it's a cause for concern. Despite a rocky start to November, with the Nasdaq Composite losing around 3% in the first full trading week, some experts believe that the pullback could present buying opportunities for investors. The article highlights that earnings have been reassuring, and the rally could continue. It also touches on other market news, including China's rollback of curbs on rare earth exports, the easing of the Nexperia impasse, and the US government's progress in ending its shutdown. Additionally, the article notes that some AI-related sectors in China are benefiting from growth, while others face decline due to price competition.

The article discusses the recent pullback in tech stocks and whether it's a cause for concern. Despite the S&P 500 and Dow Jones Industrial Average losing over 1% in the first full trading week of November, some experts believe that a pullback could present 'buying opportunities' for investors. The article highlights that earnings have been 'reassuring' despite worries about tech stocks' high valuations. It also touches on other news, including China's consumer prices growing in October, the US government shutdown, and the missed jobs report.

European stocks rose on November 10 as a potential deal to end the U.S. government shutdown gained momentum. The Stoxx 600 index was up 0.8%, with major bourses and sectors in positive territory. The advance followed Senate lawmakers taking a critical step toward a bipartisan deal to reopen the government into January. U.S. stock futures also rose, and Asia Pacific markets traded higher overnight, despite tech-fueled losses last week.

The US stock market is showing positive signs as Senate lawmakers near a deal to end the government shutdown. S&P 500 futures rose 0.76%, Dow Jones Industrial Average futures added 112 points, and Nasdaq-100 futures were 1.29% higher. A bipartisan deal is being debated that would reopen the government into January and reverse some federal layoffs. The shutdown has driven consumer sentiment to its lowest level in over three years. Meanwhile, Pfizer has acquired obesity drug developer Metsera for $10 billion.