Market Pulse - Friday, Nov. 13

Macro in focus

Fed hike bets and oil are driving markets. 🇺🇸 October CPI rose 0.4% m/m, above forecasts, and core held at 0.3%. Markets now price roughly an 85% chance of a December hike, with a 50 bp move being discussed. The US 10Y yield is around 5.1% and the dollar is near 19-month highs. Oil is back in focus after Trump said no Iran deal is needed. The US blockade stays in place and Hormuz risks remain.

Asian markets

Asia is mostly lower after Nvidia’s CEO shake-up.

🇯🇵 Nikkei 225: 61,216 (+0.65%), the standout gainer

🇭🇰 Hang Seng: 23,649 (–1.5%), with tech under pressure

🇨🇳 Shanghai Composite: 3,637 (–0.5%)

🇰🇷 Kospi: 5,298 (–0.85%)

🇮🇳 Nifty 50: 25,139 (–0.6%)

USD/JPY is back at 160.10, so Japan’s FX intervention warnings are in focus.

Wall Street

Thursday’s close was lower.

S&P 500: 7,592 (–0.35%)

Nasdaq: 25,366 (–0.39%)

Dow: 52,297 (–0.36%)

Nvidia fell 4.3% after Jensen Huang left the CEO role. Nvidia reports earnings on November 17.

Europe

European stocks closed higher on Thursday, with the STOXX 600 at a record. DAX 26,772 (+0.4%), FTSE 100 10,863 (+0.25%).

Markets snapshot

EUR/USD: 1.1059

Gold: ~$3,894, near yearly lows

Brent: $96.12, WTI: $88.60

Bitcoin: ~$68,700 (–6.6%), below $70,000 for the first time since August ⚠️

Ethereum: ~$1,930 (–5.6%), below $2,000

Today’s calendar (GMT)

3:30 – 🇺🇸 PPI and Core PPI (October), forecast around +0.4% and +0.3% m/m

15:50 – 🇺🇸 Fed’s Bowman speaks

Watch: a hot PPI would lift the dollar and yields and add pressure on gold and crypto.