Trade overview: current reports, trends, indices, stock prices, bonds, foreign exchange and commodities and analyst recommendations
13:49
Valance Semiconductor a supplier of chips for high-speed communication in the audio-video and automotive industries, announces the appointment of Yoram Zelinger as the company’s CEO and board member. Zelinger will replace Gideon Ben-Zvi, who has served as CEO since 2020 and will continue to serve as a board member. Zelinger brings with him over 25 years of experience leading high-tech companies, including Perception Point (acquired by Fortinet) and Red-bend Software (acquired by Harman International).
13:13
company Alphabetical the parent company of Google, returns to the European bond market for the second time this year, with a multi-stage bond issue in order to raise funds to finance its record investments in the field of artificial intelligence and cloud infrastructure. This was reported in Bloomberg.
According to a person close to the deal, the company is offering six series of bonds denominated in euros with maturities between 3 and 39 years, and the total volume of the issue is expected to be at least 3 billion euros (about 3.5 billion dollars).
The three-year bond is sold at a yield of about 60 basis points above the mid-swaps, while the longest bond is offered at around 190 basis points. This is the second time this year that Alphabet is raising debt in Euros, after an initial issue of 6.75 billion Euros earlier this year, which received strong demand, as part of the company’s efforts to diversify its funding sources beyond the US dollar.
The technology giants continue with a wave of extensive debt raising, at the same time as they increase investments in artificial intelligence – for example, Meta Platforms last week issued bonds in the amount of 30 billion dollars, the largest issuance this year in the dollar market.
13:09
Towards the reports of Nova To be published on Thursday, the Cantor Investment Bank expects a quarter with an overshoot and a moderate increase in forecasts, and are mainly waiting to hear about the growth path in 2026-2027. Meanwhile, the bank is raising the target price per share from $350 to $420, a 21.9% premium on the current price. The recommendation remains unchanged, “excess yield”. Cantor’s chip analyst, C.J. Muse, notes that Nova has performed relatively well this year relative to other stocks in the field and says that he remains bullish on the stock, due to its unique positioning.
12:08
stock Move strategy the Israeli dual (formerly Zoz Power) falls by about 30% in early trading on Wall Street.
As a reminder, at the end of July, the company announced a new business focus and became a treasury company that owns bitcoin coins, for the purpose of which it also raised financing, and acquired on the purchase of another 88 bitcoin coins in exchange for 10 million dollars; This, when as of now, she holds 942 bitcoins. Today Bitcoin falls by about 3% to $107,260.
10:34
Trading in Europe opened this morning with a positive trend – the Frankfurt Stock Exchange rose by 0.4%, Paris unchanged and London rose by 0.1%.
08:52
In Asia a mixed trend this morning after it was announced that manufacturing activity in China weakened in October, the official purchasing managers’ index (PMI) data released on Friday by China’s National Bureau of Statistics showed that manufacturing activity fell to the lowest level in six months, a level that indicates a contraction in the manufacturing sector. The Hang Seng index in Hong Kong is up 0.3%, while the CSI 300 index of mainland China is down 0.6%.
In South Korea, the Kospi index jumps by 2.16%, touching a new daily record; In October, the index recorded a series of historic highs, having already set 16 intra-day highs. The momentum stems from a combination of optimism around artificial intelligence in the field of chips and comprehensive reforms in corporate governance in the country. The rally pushed the index beyond the 4,000 point mark, with an increase of almost 21% in the month of October alone. Since the beginning of the year, the index jumped by more than 72%, thereby overtaking the regional markets – Japan’s Nikkei 225 index rose by 26%, while mainland China’s CSI 300 index rose by more than 19%.
The gains in the South Korean stock market reflect both the global tailwind of the AI sector and local structural changes, which are gradually reducing the “Korea discount” – a term that describes the discount at which South Korean stocks are traded due to structural problems such as transparency or weak corporate governance, analysts explained to CNBC. According to data from Yuanta Securities, the companies Samsung Electronics and SK Hynix together make up more than 30% of the entire Kospi index.
In Australia, the S&P/ASX 200 index fell by 0.24%. The country’s central bank opens a two-day policy meeting today, with most economists estimating that the interest rate will remain unchanged, after inflation readings in the third quarter were higher than expected.
The markets in Japan are closed today for a national holiday.
● WSJ | Investing in shares does not always pay off: what happened to retirees caught in a bear market?
On Wall Street, the futures trade this morning with slight increases of up to 0.2%.
Today begins a new month in trading in New York, after the optimism surrounding artificial intelligence strengthens, positive results from Amazon helped the Nasdaq index register on Friday a seventh month in a row of gains, the longest streak since 2018.
If history serves as an indication, the month of November marks the beginning of the best six months of the year for US stocks – according to historical analyzes of the US stock market, the period from November to April is usually the strongest six months for stocks – in contrast to the months from May to October, when performance tends to be weaker, hence the source of the famous saying: “Sell in May and go away”.
So far this year, the S&P 500 is up about 16%. According to J. Capel from SentimentTrader, when the index registers an increase of over 10% between January and October, there is an 86% probability that November and December will also end with gains.
The previous week closed with gains of over 2.5% in the technology-rich NASDAQ index. The S&P 500 and Dow Jones indices settled for more moderate increases of about 1% each.
Wall Street at the beginning of November is characterized by the technology giants leading the market fluctuations with mixed reports, huge investments in AI, record valuations and increasing debt – which raises fears of a new technology bubble.
Investments are soaring – The technology giants have already spent hundreds of billions of dollars on artificial intelligence developments – but the expense account is only expected to grow next year. Last week Meta, Alphabet, Microsoft and Amazon announced that they intend to increase investments in 2026. The concern among investors: it is not clear when and how these investments will translate into actual profits.
● “The capex”: the section that is considered marginal in the reports of the tech giants, and now steals the show
Profits are rising – Unlike the companies of the dot-com era, today’s leading AI companies are making a lot of money. Meta and Alphabet both reported record revenues this week. However, the massive investments are starting to take a toll: the trailing 12-month cash flow of Meta, Alphabet, Microsoft, Apple and Amazon has declined in recent years.
record-breaking values – The AI wave continues to push company values to unprecedented heights. On Wednesday, Nvidia became for the first time a company with a market value of 5 trillion dollars, Apple and Microsoft reached a value of over 4 trillion dollars each. The S&P 500 index at a multiple of 23 – well above the average of the last two decades.
The high valuations and the enormous influence of the AI leaders make some Wall Street investors fear that a new technology bubble is being built here. Michael Barry, the man who became famous following his bet against the American housing market, sent, according to Bloomberg, a coded warning to private investors regarding over-enthusiasm in the markets. “Sometimes we see bubbles. Sometimes we can do something about it, but sometimes – it’s better to do nothing.”
Sometimes, we see bubbles.
Sometimes, there is something to do about it.
Sometimes, the only winning move is not to play. pic.twitter.com/xNBSvjGgvs– Cassandra Unchained (@michaeljburry) October 31, 2025
The one who relatively avoided investing in the market is the legendary Warren Buffett – according to the quarterly report published by the company under his management, Berkshire Hathaway, from the beginning of the year the company avoided repurchasing its shares, and sold shares for a total amount of 10.4 billion dollars, the company’s cash mountain jumped to 380 billion dollars.
Growing influence of the technology giants – The influence of the “Magnificent Seven”, Apple, Alphabet, Amazon, Meta, Microsoft, Nvidia and Tesla – has never been so dominant. Their aggregate market value now constitutes about 38% of the S&P 500 index, according to Dow Jones Market Data. This means that a sharp movement in just one stock can move the indices as a whole. “The reduced participation in the market indicates that while some stocks are enjoying the ‘holiday candy,’ many others are left empty-handed,” said Craig Johnson of the investment house Piper Sandler.
Debt is increasing – The technology giants, which were previously identified with huge cash reserves and little debt, have changed direction. Although they are still sitting on a lot of cash, they are taking on more debt to finance their own purchases of shares – and recently also for huge investments in the field of AI.
Meta recently issued a $30 billion bond to finance “general corporate needs” – a term that is mostly considered investments in artificial intelligence. About a month earlier, Oracle also issued bonds in the amount of 18 billion dollars, for a similar purpose.
In the coming week, trading around the field of artificial intelligence will remain at the center of investors’ attention, with expected reports from Palantir, AMD, Super Micro Computer and Constellation Energy – alongside dozens of other companies in the S&P 500 index that are expected to report their quarterly results.
The U.S. bond market took a turn after, in an unusual direct announcement this week, Federal Reserve Chairman Jerome Powell said that an interest rate cut in December is “far from guaranteed”. The market reaction was immediate. Bond yields recorded one of the sharpest jumps on the day of an interest rate decision since 2022.
Against this background, former “bond king” Bill Gross is selling, according to Bloomberg, US government bond futures, betting that the high deficits and massive issuance of the Treasury will continue to put pressure on yields to rise. Gross, the founder of PIMCO says that the swelling deficits and the weakening dollar leave him bearish on US government bonds. “Deals? I sell 10-year bond futures,” he wrote, “there is too much supply – even if growth slows down to 1%-2%.”
In the global bull market, the dollar ended October as its second best month of the year, with the lack of official economic data clouding the picture regarding the state of the US economy and the future direction of the Federal Reserve’s interest rate policy.
The DXY index rose on Friday for the third day in a row, summing up its monthly increase by 1.9%. The American currency received a boost this week after Fed Chairman Jerome Powell indicated that another interest rate cut this year is far from certain. At the same time, the other main currencies – the euro, the pound sterling and the Japanese yen – weakened due to local economic problems.
“We expect the strengthening trend of the dollar to continue for some time, in the absence of publication of significant data in the US and the continued focus on what is happening outside of it,” said Jayati Bhardwag, strategist at TD Securities. “There are quite a few fiscal and political concerns – starting in France, through Japan, and up to Britain.”
In general, this year has not been kind to the world’s reserve currency: the dollar index recorded in the first half of 2025 the worst performance for the first half since 1973, against the background of the US tariff policy that shook the foreign exchange market. October’s monthly increase reduced the cumulative decline of the dollar since the beginning of the year to less than 9%.
Macro In the US, the ongoing government shutdown is expected to delay the release of monthly employment data for the second time in a row, so the ADP private sector jobs report, due out on Wednesday, will be the key labor market update for the week.
Also, the activity data in the manufacturing and services sector to be published by the Institute of Purchasing Managers (ISM) and S&P Global will be among the highlights this week, along with an initial look at the consumer sentiment data for November from the University of Michigan, expected to be published on Friday.