investingLive Americas market news wrap: Waller signals 25 bps rate cut this month

• Fed’s Waller: Based on current data, a 25 bps cut is justified at upcoming meeting
• More from Waller: Labor supply issues masking weakness in labor demand
• White House: Trump feels tehre was progress in meeting with Putin
• Kremlin Aide:Call was substantive and open. Leaders discuss possible Tomahawk deliveries
• US EIA weekly crude oil inventories +3524K vs +288K expected
• BOJ’s Shimizu says must tread carefully on normalizing policy
• BOJ’s Ueda: My view on global economy hasn’t changed
• China foreign minister: China and US should conduct effective communications
• NAHB US October housing market index 37 vs 33 expected
• October Philly Fed -12.8 vs +8.5 expected
• USTR Greer: China is taking actions as if it wants to decouple
• Canada September housing starts 279.2K vs 255.0K expected

Markets:

• Gold up $102 to $4309
• WTI crude oil down 81-cents to $57.46
• S&P 500 down 0.6%
• Bitcoin down 2.3%
• CHF leads, AUD lags
• US 10-year yields down 7.1 bps to 3.97%

Gold continues to be the most-remarkable story of the moment as the parabolic move accelerated today with a +$100 day and new record above $4300. The move was aided by falling Treasury yields but was otherwise a symptom of intense momentum. That buyers continued to buy every small dip despite a poor backdrop in equities was telling.

This article was written by Adam Button at investinglive.com.