US stocks slump, gold hits one-year low Nov 2, 2026

1. US EQUITIES SOLD OFF HARD
In the final session of the prior week, the S&P 500 lost 1.82% to 7,580.07, the Nasdaq Composite dropped 2.86% to 25,437 for its worst day since June, and the Dow Jones fell 1.09% to 51,770.31. The selloff was led by AI and technology names: Intel plummeted almost 29% after guiding Q4 revenue to $15–16 billion; Amazon's EPS missed estimates even though AWS revenue rose 39% to $46 billion. The semiconductor ETF fell 8.24%, and the VIX spiked to 23.93 before closing at 19.41, up 12.91%.
2. PRECIOUS METALS TUMBLE, OIL RISES
Gold COMEX fell 3.63% to $3,884.90 per ounce; spot gold slid below $3,900 to a one-year low. Silver lost 6.20% to $49.13 per ounce, its first close below $50 since November 2025; copper fell 1.86% to $6.46 per pound. Oil moved higher: WTI rose 2.08% to $104.12 per barrel. Brent prices varied by source — Xinhua Finance reported $117.64, while 163.com reported $113.40; Market Index noted Brent held near $113. OPEC+ members including Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman kept December output unchanged at September levels for a third month.
3. FED OFFICIALS SIGNAL MORE HIKES
Dallas Fed President Lorie Logan said the FOMC needs at least two more 25bp hikes then a pause; St. Louis Fed President Alberto Musalem said inflation is still too high and action should come soon; Richmond Fed President Thomas Barkin said direction is clear and speed is key. The Bank of Japan kept its policy rate at 1.25% by an 8–1 vote and approved raising its annual ETF sales plan from about 330 billion yen to about 860 billion yen starting January 2027.
4. MIXED GLOBAL ECONOMIC SIGNALS
Eurozone Q3 GDP rose 0.4% quarter-on-quarter and 1.3% year-on-year, beating expectations, with Germany up 0.2%, Spain up 0.6%, Italy flat and France down 0.1%. South Korea's October exports jumped 93.7% year-on-year to a record $115.28 billion; semiconductor exports surged 259.4% to $56.44 billion. China's official manufacturing PMI fell to 49.3 in October from 50.1, signaling contraction. Chinese regulators including PBOC and CSRC were set to meet on Nov 2 to discuss capital-market tools and stock buyback policy. In the US, early voting for the 2026 midterms surpassed 52 million by Oct 31, a record; in states tracking party registration, Democrats led Republicans by about 11 percentage points.
5. VIETNAM MARKETS AND COMMODITIES
VN-Index closed the week at 1,741.62, down 1.83% week-on-week; analysts expect choppy trading in a 1,720–1,770 range, with support around 1,740 and resistance at 1,755–1,775. Domestic coffee prices fell to 86,500–87,000 VND/kg, the lowest in nearly five months and a fourth consecutive weekly decline. Pepper dropped another 1,000 VND/kg to 134,000–136,500 VND/kg. Rice prices were stable; Vietnam's 5% broken fragrant rice export price was $500–515 per tonne, and 10-month rice exports reached about 6.8 million tonnes worth $3.3 billion, down 4.7% in volume and 9.8% in value year-on-year.
6. CORPORATE HIGHLIGHTS
Exxon Mobil's Q3 profit doubled to $15.4 billion, and Chevron's net income rose nearly 200% to $9.9 billion, driven by war-related refining margins. Westpac reported FY26 net profit excluding notables of A$6.99 billion, in line with estimates, with a final dividend of 77 cents. Binance resumed withdrawals after a record $6.3 billion hack, saying it restored backing for 90% of affected user assets and will absorb losses.
Điều cần theo dõi hôm nay: The meeting by PBOC, CSRC and financial supervisors in China on capital-market support tools and the stock buyback/re-lending policy.
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