On Wednesday, major U.S. stock indices closed higher. Former U.S. President Donald Trump previously stated that the stock market would set more record highs. ADP data showed the U.S. added 42,000 jobs in October, surpassing the Dow Jones consensus estimate of 22,000.

**U.S. Markets**: At close, the Dow rose 225.76 points (0.48%) to 47,311, the Nasdaq gained 151.16 points (0.65%) to 23,499.8, and the S&P 500 climbed 24.74 points (0.37%) to 6,796.29. Micron Technology (MU.US) surged nearly 9%, Tesla (TSLA.US) rose almost 4%, while Nvidia (NVDA.US) fell nearly 2%. Super Micro Computer (SMCI.US) plunged 11%, and Rivian (RIVN.US) soared 23%. The Nasdaq Golden Dragon China Index edged up 0.15%, though XPeng (XPEV.US) dropped nearly 4%.

**European Markets**: Germany’s DAX 30 rose 102.18 points (0.43%) to 24,047.82, the UK’s FTSE 100 gained 61.29 points (0.63%) to 9,776.25, and France’s CAC 40 added 6.70 points (0.08%) to 8,074.23.

**Commodities**: December WTI crude fell $0.96 (1.59%) to $59.60/barrel, while January Brent crude dropped $0.92 (1.43%) to $63.52/barrel.

**Cryptocurrencies**: Bitcoin rose over 2% to $103,646.7, and Ethereum surged 4.7% to $3,444.2.

**Forex & Metals**: The U.S. dollar index dipped 0.02% to 100.204. Spot gold climbed over 1% to $3,979.05/oz.

**Macro Updates**: - U.S. October ADP employment rebounded, with September’s figure revised to -29,000. Economists caution ADP’s methodology differs from official BLS data. - The U.S. Supreme Court’s tariff case debate saw skepticism from both liberal and conservative justices, lowering Trump’s perceived odds of victory. - ISM’s non-manufacturing PMI rose to 52.4 in October, though employment remained weak. - WEF Chair Børge Brende warned of potential bubbles in AI, cryptocurrencies, and debt. - OpenAI CFO Sarah Friar dismissed AI bubble concerns, emphasizing the technology’s transformative potential. - The Bank of Canada plans to cut 10% of its workforce and reduce budgets by 15% over three years.

**Corporate News**: - Google (GOOG.US, GOOGL.US) will power Apple’s (AAPL.US) Siri via a $1B annual AI licensing deal. - ARM Holdings (ARM.US) reported Q3 revenue up 34% YoY to $1.135B, with adjusted EPS at $0.22. - Qualcomm (QCOM.US) posted Q4 FY2025 revenue of $11.27B (+10% YoY), though a one-time tax charge led to a net loss of $3.117B.