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Trump is rambling on re all sorts of topics. This one hitting the after hours price of weight loss drug makers:

• Think the “fat-loss drugs” will be a lot lower in price

This article was written by Eamonn Sheridan at investinglive.com.

Fed board governor Miran is Trump’s lackey at the Fed.

He is talking rubbish on tariffs:

• The downside of tariffs has been nowhere near what people predicted
• Tariffs have had no material signs of growth drag, inflation spike
• Don’t think cost of tariffs will be passed on to consumers
• Burden of tariff cost will fall on exporting countries

This article was written by Eamonn Sheridan at investinglive.com.

US indices all moved lower with the Russell 2000 of small cap stocks faring the worst. That index fell by over 2% on the day. The S&P and Dow each fell by around 0.6%.

A snapshot of the closing levels shows:

• Dow industrial average-301.07. Or -0.65% at 45952.24.
• S&P index fell -41.99 points or -0.63% at 6629.07.
• NASDAQ index fell -107.54 point or -0.47% at 22562.54.
• Russell 2000 fell -52.73 points or -2.09% at 2467.01.

Looking at the S&P components, Financials was the weakest while information technology was the sole component that rose on the day.

• Financials: -2.75%

• Energy: -1.12%

• Utilities: -1.05%

• Industrials: -0.59%

• Materials: -0.55%

• Real Estate: -0.33%

• Consumer Discretionary: -0.88%

• Consumer Staples: -0.78%

• Health Care: -0.11%

• Telecom: -0.44%

• Information Technology: +0.13%

This article was written by Greg Michalowski at investinglive.com.

Trump recently imposed a $100,00 fee on temporary visas for highly skilled workers in a push to have American companies hire more domestic workers.

Fears are mounting around the health of their lending businesses.

Federal Reserve (Fed) Governor Stephen Miran spoke at the Institute of International Finance Annual Membership Meeting in Washington, DC.

• 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.

Not a lot on the event horizon today.

• 2015 GMT /1615 US Eastern time Miran is expected to participate in a conversation before the Semafor Fall 2025 World Economy Summit.
• 2200 GMT /1800 US Eastern time Minneapolis Fed President Neel Kashkari is set to participate in a town hall hosted by Elevate Rapid City.
• This snapshot from the investingLive economic data calendar.
• The times in the left-most column are GMT.
• The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.

This article was written by Eamonn Sheridan at investinglive.com.

• Counting on the momentum that helped end terror and war in the Middle East to also help end the war with Russia.

• The language of strength and justice will be effective in dealing with Russia.

• Russia appears to be in a rush to resume dialogue once it hears talk of Tomahawk missiles.

Zelenskyy will meet with Pres. Trump tomorrow. Today Trump had a 2 1/2+ hour call with Russia’s Putin. Where they discussed negotiating a settlement once again. The two leaders agreed to meet again in Budapest in the near future. Trump is also scheduled to meet with China’s Xi as he lets the government shutdown unphase him, while he works for peace and agreements internationally. .

This article was written by Greg Michalowski at investinglive.com.

EssilorLuxottica attributed a healthy amount of its third-quarter growth to a lift from its partnership with Meta.