Global stock markets opened positively in November, U.S. stock futures continued to rise, gold and silver rebounded, oil prices increased, and Bitcoin fell nearly 3%

Global stock markets continued their strong upward trend since April this year into November, with robust earnings reports from tech giants and easing trade tensions injecting confidence into the market. The MSCI global stock index rose for the seventh time in the past eight trading days, while U.S. stock index futures fluctuated upward; OPEC+ decided to suspend production increases, driving oil prices higher; gold fluctuated and rebounded to around $4,020, having briefly fallen to $3,962 during Asian trading hours; cryptocurrencies continued to decline, with Ethereum down 4%, extending recent losses.

Core market trends:

S&P 500 futures rose 0.2%, Nasdaq 100 index futures increased by 0.10%; Euro Stoxx 50 index futures rose 0.2%;

The yield on Japan's 10-year government bonds rose by 1 basis point to 1.655%; Australia's 10-year government bond yield increased by 4 basis points to 4.34%;

Spot gold rose 0.3% to $4,017.49 per ounce; spot silver's increase expanded to 1%, currently reported at $49.058 per ounce;

WTI crude oil rose 0.6% to $61.37 per barrel;

Bitcoin fell 2.2% to $107,608.33; Ethereum dropped 4% to $3,710.

Asian stock markets rose 0.6% on Monday, with S&P 500 index futures continuing to climb 0.2% after last Friday's gains, as optimistic earnings sentiment outweighed concerns about the concentration of gains among tech giants. European stock markets are also expected to open higher. The Japanese market and U.S. Treasury spot trading are closed due to holidays.

Homin Lee, Senior Macro Strategist at Lombard Odier Singapore, stated, "Powell's FOMC press conference last week surprised the market, but the easing trade situation and the backdrop of the global AI boom should keep investors in a positive mood at the beginning of November, with market focus shifting to the release of U.S. private sector data."

This week, traders will focus on a series of global central bank policy meetings. Policymakers in Australia, Sweden, and Brazil are expected to keep interest rates unchanged, while Mexico may cut rates, and the Bank of England is expected not to cut rates on Thursday. Additionally, in the U.S., the ongoing federal government shutdown continues to disrupt the release of key economic data, casting a shadow over the economic outlook.

Gold briefly fell to $3,960 in early Asian trading but then surged back above the $4,000 mark, currently nearing $4,020, as investors pay attention to the impact of China, one of the world's largest gold consumption markets, ending its tax incentive policy.

In news, last Saturday, two departments announced the cancellation of the long-implemented gold tax incentive policy Analysis suggests that this may hit consumers in one of the world's largest gold consumption markets. Gold surged to a record high in early October, driven by a buying frenzy among retail investors, but then significantly retreated in the last two weeks of the month.

BullionVault Research Director Adrian Ash stated: "The tax changes in this largest gold-consuming country will dampen global sentiment. This news may be very welcome for traders and investors hoping for a deeper correction after last month's surge."

In the oil market, OPEC+ decided to pause production growth after a slight increase next month, pushing WTI crude oil up 0.6% to $61.37 per barrel.

This move comes as the market faces a supply surplus outlook, with Brent crude oil having fallen 10% over the past three months. The U.S. has intensified sanctions against Russia, adding uncertainty to the supply outlook for this major exporter.

The cryptocurrency market continues to weaken, with Bitcoin down nearly 3%, approaching $107,000, and Ethereum falling 4% to $3,710. Bitcoin fell nearly 5% in October, ending a streak of October gains since 2018.

Van Eck cross-asset strategist Anna Wu pointed out that the S&P 500 index "will only stop rising in the event of a significant unexpected downturn." She noted that strong earnings reports from Apple and Amazon have dominated the market, and this strength has continued into this week, supporting overall risk sentiment.

Bloomberg strategists indicated that after three months of relative calm, the forex market will regain attention this week, with the dollar index likely to reach a six-month high, while the yen will continue to be under pressure.

The dollar index remained basically stable on Monday as investors awaited speeches from Federal Reserve officials for more clues about the central bank's policy path.