European Markets Climb, FTSE Hits Record
European shares rose for a second straight session. The pan-European STOXX 600 gained 0.6%, while London’s FTSE 100 hit a fresh record high.
A weaker British pound helped lift the index after new employment data strengthened expectations of a possible interest rate cut by the Bank of England next month.
➡️ More global market reports available on Pashto Times World.
Shutdown Deal Clears the US Senate
Late Monday, the U.S. Senate approved a compromise bill to restore federal funding after nearly six weeks of government shutdown.
The legislation now heads to the House of Representatives, where Speaker Mike Johnson is expected to push for a quick vote — possibly as early as Wednesday — before sending it to President Donald Trump.
Economists estimate the shutdown may have trimmed 0.4 to 1 percentage point from U.S. GDP in the fourth quarter. But analysts suggest economic activity could rebound sharply once data releases resume.
A Flood of Delayed Economic Data Coming
Markets are bracing for a wave of postponed U.S. reports on employment, inflation, and industrial production — data that the Federal Reserve will closely watch.
The Fed cut interest rates at its last meeting, but Chair Jerome Powell warned investors not to assume further easing without clearer signs of cooling inflation.
Tech Stocks Still Under Pressure
Despite Monday’s rally in big U.S. tech — where AI-linked shares posted their biggest surge since May — sentiment cooled after SoftBank Group revealed it sold its entire stake in Nvidia, worth nearly $5.8 billion.
Nvidia shares slipped in pre-market trading, dragging tech sentiment lower.
Wall Street ended Monday sharply higher overall:
- S&P 500 jumped 1.54%
- Nasdaq recorded its strongest daily gain since May
** Pound Weakens, Yen Hits New Low**
In currency markets, the British pound fell 0.2% to $1.3148 after wage growth slowed and unemployment rose. The data strengthened expectations of a BoE rate cut, but also highlighted pressure on UK households ahead of finance minister Rachel Reeves’ upcoming budget announcement on November 26.
The Japanese yen weakened to 154.49 per dollar, its softest level since February, before recovering slightly.
Gold and Oil Inch Higher
Commodity markets showed mixed movement:
- Gold rose 0.5% to $4,137 per ounce
- Brent Crude added 0.75% to $64.54 a barrel amid uncertainty over global supply and ongoing U.S. sanctions on Russia
The U.S. Treasury market remained closed for Veterans Day, limiting bond-market activity.
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