Australia Hikes Rates as S&P 500 Futures Hold Today

Australia hiked rates to an 18-year high today, and S&P 500 futures held near Monday's close into US midterm voting. As flagged in Monday's evening review, the S&P 500 cash close was 7,541.40. Overnight S&P 500 futures last printed about 7,556, labeled overnight futures (Yahoo Finance as of 06:21 UTC). US cash opens at 16:30 Cyprus (14:30 UTC).

The Setup: Kospi Slides as Overnight Futures Hold Monday's Close

The S&P 500 closed 7,541.40 on Monday, down 0.51 percent (Yahoo Finance, CNBC, Morningstar), range 7,539.38 to 7,662.23. The Nasdaq Composite closed 25,164.36, down 1.07 percent. The Dow closed 51,983.98, up 0.41 percent. Overnight S&P 500 futures last printed about 7,556, labeled overnight futures (Yahoo Finance 7,555.75 as of 06:21 UTC). Overnight range 7,554.25 to 7,591.50. Nasdaq-100 futures last printed about 28,071, down 0.20 percent. The hourly chart below covers the last 24 hours on Yahoo Finance.

South Korea's Kospi closed 5,632.50, down 3.87 percent (Yahoo Finance), after Yonhap flagged a chip-led fade on AI-spend concerns. Hang Seng last printed 23,417.44, up 0.10 percent, labeled Tuesday session. Tokyo is shut for Culture Day. Australia's S&P/ASX 200 last printed 8,886.8, up 0.34 percent. Apple closed 338.32, down 1.83 percent, then slipped about 2 to 3 percent after hours on a holiday-quarter gross-margin guide of 45 to 46 percent (Yonhap Infomax, TrendForce). Palantir closed 178.34, down 3.13 percent, after revenue of 2.31 billion dollars and adjusted EPS of 0.44 dollars. Catch up: Monday's morning analysis and the week ahead. S&P bullish trigger: a reclaim of Monday's 7,662.23 cash high. Bearish trigger: a fade through Monday's 7,539.38 cash low.

Story of the Day: Australia Lifts the Cash Rate to an 18-Year High

The Reserve Bank of Australia raised the cash rate 25 basis points to 4.85 percent at 05:30 Cyprus (03:30 UTC), the fifth hike of 2026 and the highest cash rate since 2008 (RBA). The vote was 6-3, with three members preferring to hold at 4.60 percent. Staff now see inflation remaining elevated through much of 2027 and not reaching the top of the 2 to 3 percent target band until late 2027. The board cited broadly based inflation, tighter capacity, fuel prices passing through to other goods, and AI-related investment lifting technology-goods prices. The Australian dollar last printed about 0.6987, down 0.17 percent, range 0.6975 to 0.7006 (Yahoo Finance). Nikkei Asia said the narrow vote points to a pause as the next live debate. AUD bullish trigger: a hold through 0.7006. Bearish trigger: a slip through 0.6975. None of this is a recommendation.

Oil Steadies After Monday's 7 Percent Drop

West Texas Intermediate last printed 97.50 dollars (Yahoo Finance as of 06:21 UTC November 3), up 1.08 percent from Monday's 96.46 settle. FT.com sat at 97.38 as of 06:11 GMT. Markets Insider sat at 97.42, all under 1 percent apart. Overnight range 96.12 to 97.60. Brent last printed 105.89 against Monday's 104.77. That is a modest overnight repair after Monday's drop of about 7 percent from Friday's 104.12 settle (Yahoo range 95.15 to 102.75). Iranian President Masoud Pezeshkian said the Supreme Leader granted the government authorities over peace talks. Foreign Minister Abbas Araghchi said contacts through mediators remain intensive. Oil bullish trigger: a hold through 97.60, then Monday's 102.75 high. Bearish trigger: a slip through 96.12, then Monday's 95.15 low.

Gold Fades a Touch After Monday's Bounce

Spot gold last printed about 3,924 dollars (TradingView 3,923.54 as of November 3). Kitco sat at 3,921.90 as of 11:48 p.m. ET November 2. Sharjah24/WAM had 3,926.52 at 03:53 GMT, down 0.5 percent, all under 1 percent apart. That is a small fade after Monday's rebound to about 3,953. Friday's close of 3,875.65 remains the 52-week low. COMEX gold futures last printed 3,928.3, down 1.04 percent from 3,969.60, range 3,925.8 to 3,974.5. Gold bullish trigger: a hold through 3,924, then the COMEX session high at 3,974.5. Bearish trigger: a slip through Kitco's Monday low at 3,879.40, then Friday's 3,875.65.

Bitcoin Holds the 76,300 Band

Bitcoin last printed about 76,555 dollars (TradingView). Yahoo Finance sat at 76,658 as of 06:31 UTC. CoinGecko sat at 76,663 as of 06:32 UTC, all under 1 percent apart. Yahoo session range 76,306 to 77,180. Ether last printed about 2,244 dollars (TradingView 2,244.3; Yahoo 2,250.65; CoinGecko 2,250.59). Prints labeled intraday; crypto's daily candle closes at 00:00 UTC. Bitcoin bullish trigger: a reclaim of 77,180. Bearish trigger: a slip through 76,306.

What's Next: Swiss CPI, JOLTS, Midterms, Then AMD

Switzerland CPI prints at 09:30 Cyprus (07:30 UTC), seen at 1.3 percent year-on-year after 1.0 percent. US cash opens at 16:30 Cyprus (14:30 UTC). JOLTS job openings and factory orders print together at 17:00 Cyprus (15:00 UTC). JOLTS is seen at 7.10 million after 7.079 million. Factory orders are seen at +1.2 percent after +0.1 percent. US midterm polls close from 18:00 Eastern, with meaningful counts into Wednesday 01:00 Cyprus (23:00 UTC). AMD reports at 23:00 Cyprus (21:00 UTC). API crude inventories at 23:30 Cyprus (21:30 UTC). Friday: October payrolls, the jobs-report guide. Docket: the calendar and the week ahead. Scenarios to watch: a hot JOLTS print into the election overnight, or a further Nasdaq fade on Apple's 45 to 46 percent holiday-margin guide. None of this is a recommendation.

For live prices see the ThriveInMarkets homepage. None of the above is a recommendation. US cash closes are Monday, November 2, 2026. Overnight prints are Tuesday, November 3, 2026.