Markets - **U.S. Stocks Close on Nov 12**: The Dow surged around 560 points, while tech stocks underperformed. - **Top 20 U.S. Stocks by Turnover**: SoftBank fully exited Nvidia, cashing out over $5.8 billion. - **Key Chinese ADRs**: Mixed performance—XPeng rose 7.80%, while Alibaba fell 3.07%. - **Crude Oil**: Prices climbed as robust fuel demand offset weak crude signals. - **Gold & Metals**: Gold staged a V-shaped rebound post-U.S. jobs data; silver futures rose 1.5%, palladium gained over 2.2%. - **European Equities**: Hit record highs, fueled by strong earnings and growing expectations of a BoE rate cut.

Macro - **White House Economic Advisor**: Some October data may be permanently lost. - **U.S. Government Shutdown**: The longest in history is set to end, with historical trends suggesting a post-resumption market rally. - **Banking Regulation**: U.S. regulators reportedly agreed to ease capital requirements for banks. - **CFPB Funding**: The government declared its funding mechanism illegal. - **Labor Market Slowdown**: U.S. Treasury futures rose as job growth cooled. - **France’s Economy**: The central bank forecasts "slight" Q4 growth. - **Geopolitics**: France reiterated support for a "two-state solution" after Macron met Palestine’s leader; G7 foreign ministers convened in Canada to discuss global security. - **Norway’s Sovereign Fund**: Paused ethical guidelines, avoiding a $230 billion tech sell-off. - **Sanctions Fallout**: U.S. sanctions on Russia left Bulgaria scrambling for gasoline supplies.

Corporates - **SoftBank**: Sold its entire Nvidia stake for $5.8 billion to fund AI ventures. - **AMD**: Projects accelerated revenue growth driven by data-center demand. - **Barclays Downgrades Oracle**: Warns of potential cash depletion by November 2025, risking junk status. - **FedEx**: Shares rose as upbeat guidance eased holiday-season worries. - **Novo Nordisk**: Soared on strategic exits and Wall Street backing. - **AI Spending Concerns**: Apple’s conservative approach contrasts with industry’s overheating fears. - **China ETF Inflows**: Major U.S. ETF manager boosted stakes in PDD and TAL. - **JPMorgan’s BoE Bet**: Anticipates a December rate cut amid labor market softening. - **OpenAI Lawsuit**: Found guilty of using a German musician’s lyrics for AI training without permission.

Commentary - **Dollar Outlook**: "Dollar Smile" theorist predicts a 14% drop during Trump’s remaining term. - **Commodities Wrap**: Oil advanced, gold pared gains, while copper rose. - **European Bonds**: U.K. gilts outperformed as weak jobs data fueled rate-cut bets. - **BoE’s Breeden**: Warned looser stablecoin rules could harm financial stability. - **Short-Seller Burry**: Accused AI giants of inflating profits via accounting tactics. - **Currency Trade**: Dollar carry trades poised to outpace soaring global equities. - **BoE’s Greene**: Downplayed rising unemployment but flagged wage growth concerns.