Corporate earnings and optimistic economic data have been priced in, but concerns over high valuations in tech stocks persist. With dip-buying momentum fading, European and US markets showed weakness, while safe-haven demand continued to drive US Treasuries and gold higher.

On November 6, US stock futures declined broadly, European equities opened lower, and Asian markets were mixed. Treasury yields edged down, spot gold reclaimed the $4,000 level, crude oil saw a modest rebound, the US dollar index held steady, and cryptocurrencies retreated.

Takehiko Masuzawa, head of equity trading at Phillip Securities Japan, noted that while markets were recovering today with dip-buying dominating, investors remained cautious about AI semiconductor stocks. However, selling pressure eased as buyers still emerged.

**Key Market Movements:** - **US stock futures fell:** S&P 500 futures (-0.15%), Nasdaq 100 futures (-0.26%), Dow Jones futures (-0.11%) - **European stocks opened lower:** Euro Stoxx 50 (-0.3%), Germany’s DAX (-0.2%), UK’s FTSE 100 (-0.1%), France’s CAC 40 (-0.4%) - **Japan’s Nikkei 225 rose 1.19%** - **10-year US Treasury yield dropped 2 bps to 4.14%** - **US dollar index dipped 0.14% to 100.05** - **Spot gold climbed 0.73% to $4,008.12/oz** - **WTI crude rose 0.62% to $59.97/barrel** - **Bitcoin fell 0.3%, Ethereum slid 1.5%**

US stock futures declined as lingering tech valuation concerns offset strong US ISM services and ADP jobs data. Market focus shifted to the Supreme Court’s stance on Trump-era tariffs, seen as a test of presidential authority.

Nick Twidale, chief market analyst at AT Global Markets in Sydney, commented: *"Investors will certainly watch this (tariff outlook), but we’re unlikely to see major market reactions before concrete policy changes."*

Asian equities followed Wall Street’s rebound, with Japan’s Nikkei 225 rising 1.19%, though optimism waned as US futures softened.

Spot gold gained 0.73% to $4,008.12/oz.

Updates to follow.