Global Indices Join the Rally
From the Trading Desk at Stipelis:
The Macro View – Global Markets – Different Asset Classes.
Monday, November 11, 2025
Markets Are on the Move
Markets kicked off the week with a broad rally as signs emerged that the record-long government shutdown may soon end. The Senate advanced a key measure late Sunday, and if the House follows suit, we could see a return to normal economic data flow and renewed investor confidence.
This optimism was reflected across asset classes. Precious metals surged, with silver jumping over 3% and gold climbing nearly 2%, breaking back above the $4,100 mark. Saxo Bank analysts noted that despite rising bond yields, investors continue to favor non-yielding assets like gold, especially with expectations of a December rate cut still alive.
Equities also rallied, led by technology stocks. The Nasdaq 100 rose 1.79%, with chipmakers like Micron and TSMC gaining in premarket trading. The S&P 500 E-mini and Russell 2000 posted solid gains, supported by hopes that consumer spending will rebound once government workers receive back pay.
Commodities showed mixed signals. Coffee led Friday’s gainers with a 2.79% rise, while cocoa dropped nearly 3%. Today, feeder cattle and lean hogs continued their upward momentum, reflecting strong demand in the livestock sector. Meanwhile, the energy index dipped slightly, with RBOB gasoline among Friday’s biggest losers.
The US Dollar Index remained flat, while the VIX dropped over 5%, signaling reduced market fear. Sector-wise, metals led the charge with a 2.33% intraday gain, followed by equities and commodities. Forex and bonds were relatively quiet.
Global markets joined the rally. Chinese stocks rose after October data showed easing deflationary pressures. Japan’s Nikkei 225 and Europe’s Stoxx 600 both climbed over 1%, reflecting a more optimistic global outlook.
Bitcoin also saw gains, lifting crypto-sensitive stocks like Robinhood. This cross-asset strength suggests investors are repositioning portfolios in anticipation of a more dovish Fed and a return to economic normalcy.
As we await the release of delayed data—especially the September jobs report—traders are watching closely. A weak report could reinforce expectations for a rate cut, while a strong one might challenge that narrative.
In summary, today’s market moves reflect a shift in sentiment. With the shutdown potentially ending and global indicators turning positive, investors are recalibrating risk and seeking opportunities across metals, equities, and select commodities.
Stephen Coleman
Founder Stipelis Global Trading LLC
Stipelis Global Trading LLC is registered with the Commodity Futures Trading Commission and is a member of the National Futures Association. Member ID Number 0474441
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The opinions expressed are those of Stipelis Global Trading LLC and are considered market commentary. They are not intended to act as investment recommendations. Individuals should make investment decisions based on their own analysis and with direct consultation with a financial advisor.