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Any confirmed US military action on Iran’s side of the Strait of Hormuz would raise the risk premium in crude, given how close the reported blasts were to the main export route for Gulf oil. Until the reports are confirmed, oil traders are likely to price the headlines cautiously, with gains vulnerable to fading if the incident proves limited or unconnected to the drone claim. The bigger risk for crude is a cycle of retaliation that threatens shipping through the strait, so any Iranian response or official US statement is the next catalyst to watch. A report that the US has been carrying out unannounced limited strikes for weeks also suggests that more incidents could follow without warning.

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Monday:

• investingLive Asia-Pacific market news:…

The headline beat gives the shares a supportive starting point after hours, but the bigger test comes on the conference call at 5:00 p.m. ET (2200 GMT). There, December-quarter guidance and gross margin commentary are likely to matter more than the September numbers. The miss in Greater China is the line most likely to temper any rally, given how closely investors track the region as a measure of iPhone competitiveness. With Palantir also beating earlier in the session, a solid Apple print adds to a constructive tone for US tech futures heading into Tuesday’s open.

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Apple cleared the bar in John Ternus’s first quarter as CEO on stronger iPhone and Mac sales, but softness in China and some hardware lines leaves the call and holiday guidance…

U.S. stocks closed mixed to start November, with the Dow industrial average moving higher while the S&P 500 and both Nasdaq indices finished lower. The Nasdaq 100 led the declines with a 1.39% fall as selling continued across semiconductor and AI-related shares.

The session started with hopes for a recovery after a difficult October for technology stocks. Lower oil prices amid renewed optimism around U.S.-Iran negotiations helped the early mood. However, that relief was not enough to keep the broader indices higher. Buyers had their shot, but the closing numbers show they could not hold control.

Attention now turns to Apple and Palantir earnings after the close and Tuesday’s U.S. midterm elections. Those events give traders fresh catalysts…

The AUDUSD is stretching to a new session low after an up-and-down trading day that has seen the price work lower in steps.

The day started with a test of the 100-hour and 100-day moving averages near 0.7038. Sellers leaned against that resistance and pushed the price lower. Initial declines toward 0.7014 and then 0.6998 attracted bounce-back rallies, but buyers could not sustain the recoveries. The latest move has extended the session low to 0.6996, taking the pair to its lowest level since October 22.

Key swing support comes into focus

The decline has brought the price just above a swing area between 0.69898 and 0.69943, going back to September 30. That area is now the next key barometer for buyers and sellers.

Buyers looking to stall the…

Apple and Palantir report after the close today, with both earnings calls scheduled for 5 PM ET. Below are the key expectations and year-ago comparisons. Consensus estimates can vary by provider; the figures here use MarketBeat.

Apple: Revenue expected to rise nearly 11%

For Apple’s fiscal fourth quarter, analysts expect:

• EPS of $1.99 versus $1.85 a year ago, an increase of 7.6%.

• Revenue of $113.40 billion versus $102.47 billion a year ago, an increase of 10.7%.

The numbers point to earnings growing more slowly than sales. That puts margins in focus. Traders will want to see whether product demand and the Services business can support profitability, along with what management says about the important December holiday quarter.

For comparison,…

the broader NASDAQ indices are now trading in negative territory.

• The NASDAQ composite Index was 362.46 point at session highs. It is currently trading down -56.28 points at 25380. 
• The NASDAQ 100 index is up 368.55 points. It is currently down -140.34 points at 28244.

The S&P index is still up 6.65 points after trading as high as +82.16 point.

For the Nasdaq composite index, the 200 day MA comes in at 25065. The 38.2% of the move up from the March low comes in at 25036.  The low price for the day reached 25380.72.  

For the Nasdaq 100, the 200 day MA comes in at 27940.95.  The low reached 28244.50. 

Moving below the 200 day MAs for each would increase the bearish bias technically. 

The Magnificent 7 are mixed. Apple declines ahead of…

The USDCAD has been trending lower after peaking near 1.4300 in October. However, the selling is losing some steam as the price tested the 61.8% retracement of the move up from the August low on Friday and again today. That level comes in at 1.39497, within a swing area between 1.3948 and 1.3963.

Buyers are leaning against that support and have pushed the price back toward 1.3975 on the chart. That gives them an opportunity to build a corrective move higher. It also gives them a close risk level. Stay above the support area, and the buyers can stay in the game. Move below, and the selling can resume.

Buyers have work to do on the topside

Holding support is a start, but buyers still need to get through a cluster of technical resistance to…

Tehran and Washington are reportedly nearing a preliminary agreement, according to ILNA Telegram citing Al-Sharara news agency:

• Al-Sharara news agency reported, citing a diplomatic source aware of the intensive diplomatic moves between Tehran and Washington to reach a preliminary agreement aimed at reducing tensions, and announced that the coming hours will be decisive in determining the fate of this agreement.

• Tehran and Washington reportedly on the verge of a preliminary agreement; the coming hours will be decisive, reports ILNA Telegram citing Al-Sharara news agency.

Analysis:

The headline is encouraging for traders looking for a reduction in US-Iran tensions. A preliminary agreement could take some geopolitical risk out of crude oil and…

Lower yields help gold recover

Gold fell sharply Friday as risk-off sentiment dominated trading. Today, the focus has shifted toward lower Treasury yields, helping gold recover some of that decline.

The U.S. 10-year yield is down 5.0 basis points at 4.87%. Gold typically benefits from falling yields because it pays no interest. When bonds offer a lower return, the opportunity cost of holding gold falls, making the metal relatively more attractive.

The rebound is also getting help from a successful test of a key technical support level.

Buyers lean against the 100-week moving average

On the weekly chart, gold tested its 100-week moving average at $3882.35 (see blue line on the chart above). Today’s low slipped just below that level before…

Today’s U.S. economic data gave buyers and sellers something to work with. Manufacturing continues to expand, but a sharp decline in construction spending and stubborn inflation pressures cloud the broader outlook. The data lean mildly bullish for manufacturing activity, but offer a less convincing signal for stocks.

The stronger bullish influence is coming from the Middle East, where renewed hopes for U.S.–Iran diplomacy and sharply lower oil prices are helping buyers regain some control after a difficult October.

ISM manufacturing strengthens, but price pressures remain elevated

The ISM manufacturing report provided the strongest growth signal. The headline index rose to 55.5 from 54.5, beating expectations near 54.6–54.7. Production…

• Prior month 54.5

Details of the report. 

• Manufacturing PMI: 55.5 vs 54.5 expected. Prior 54.5.

• Prices paid: 75.2 vs 77.5 expected. Prior 77.9.

• Employment: 52.4 vs 52.0 expected. Prior 52.7.

US manufacturing growth accelerated in October, with the Institute for Supply Management’s headline index rising to 55.5 from 54.5, beating expectations for an unchanged reading. The sector expanded (above 50.0) for the 10th consecutive month, with production reaching its highest level since November 2021.

The details show stronger production and a return to inventory growth, while new orders improved only modestly. Prices paid eased more than expected but remained elevated. Employment continued to expand, although at a slightly slower pace.

October…

• Prior month +0.9% revised to +2.0%.

Details from the Census Department

• Total construction spending: −1.9% MoM, at a seasonally adjusted annual rate of $2,186.1 billion, versus August’s revised $2,227.4 billion.

• Prior month revised higher to 2.0% from +0.9%.  

• Year-over-year spending: −2.7%.

• January–September spending: −2.9% versus the same period in 2025.

September components compared with August, in seasonally adjusted annual rates:

• Private construction: $1,639.3 billion vs $1,680.3 billion; −2.4% MoM.

• Private residential: $848.8 billion vs $898.0 billion; −5.5%.

• Private nonresidential: $790.6 billion vs $782.3 billion; +1.1%.

• Public construction: $546.8 billion vs $547.1 billion; −0.1%.

• Public education: $113.1 billion vs $113.1 billion; virtually…