6 November 2025
US stocks rebounded on Wednesday, amid upbeat economic data and solid earnings. The S&P 500 closed 0.4% higher.
US Treasuries fell as investors weighed the Treasury supply outlook and solid macro data releases. 10-year yields climbed 7bp to 4.16%.
European stocks posted modest gains on Wednesday. The Euro Stoxx 50 closed 0.2% higher. The German DAX rose 0.4% and the French CAC edged up 0.1%. In the UK, the FTSE 100 gained 0.6%.
European government bonds fell, driven by weaker US Treasuries. 10-year German and French yields rose 2bp to 2.67% and 3.46% respectively. In the UK, 10-year gilt yields rose 4bp to 4.46%.
Asian stock markets mostly fell on Wednesday, weighed down by losses in tech shares amid valuation worries. Japan’s Nikkei 225 and Korea’s Kospi fell 2.5 and 2.8% respectively. Chinese equities fared better with Hong Kong’s Hang Seng ending little changed (-0.1%). China’s Shanghai Composite posted a 0.2% gain. The Indian market was closed for a public holiday.
Crude oil prices extended losses on Wednesday. WTI for December delivery settled 1.6% lower at USD59.6 a barrel.
In the US, the ADP employment rose by 42k in October following a revised 29k decline in September. Meanwhile, the ISM services index rose to 52.4 in October, from 50 in September, but the employment component remained weak.
In the UK, the Bank of England is expected to keep the benchmark rate unchanged at 4.00% but further good inflation news could prompt a rate cut in December.
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