As October draws to a close, the three major indices have continuously set new all-time highs in the latter part of the month. U.S. technology giants have once again sparked a market capitalization rally, with both Microsoft and Apple surpassing the US$4 trillion market cap milestone, while NVIDIA steadily advances toward the US$5 trillion mark. Looking ahead to November, the U.S. earnings season will continue, and investors may also focus on developments such as U.S.-China trade relations and Tesla's annual shareholder meeting.
From October 31 to November 1, 2025, the APEC (Asia-Pacific Economic Cooperation) Informal Leaders' Meeting will be held in Gyeongju, North Gyeongsang Province, South Korea. The leaders of China and the United States are scheduled to meet in South Korea on October 30, local time.
On November 2, North America will begin observing daylight saving time, and trading hours for U.S. financial markets, as well as the release times for economic data, will be delayed by one hour compared to daylight saving time.
After the U.S. stock market closes on November 3, Eastern Time (November 4, Beijing Time), Palantir, the leader in AI applications, $Palantir (PLTR.US)$ will release its latest quarterly earnings results.After the U.S. stock market closes on November 4, Eastern Time (November 5, Beijing Time), the chip giant $Advanced Micro Devices (AMD.US)$ will release its latest quarterly earnings results.
On November 5, the U.S. Supreme Court will hear arguments regarding the legality of the Trump administration’s tariff policies.
Former U.S. President Trump previously stated that he might personally attend the oral arguments at the Supreme Court regarding the legality of tariffs. This would be the first time the Supreme Court rules on the legality of a major policy after Trump's return to the White House, potentially determining the fate of tariffs—a "cornerstone" of Trump’s economic agenda.
The litigation involves tariffs including the 10% "baseline tariff" imposed globally by Trump under the 1977 International Emergency Economic Powers Act, higher tariffs on trading partners that have not reached trade agreements with the U.S., and the so-called "fentanyl tariff."
At the close of the U.S. stock market on November 5 (Eastern Time, or November 6 Beijing Time), $Robinhood (HOOD.US)$ will release its latest quarterly earnings results.
At 3:00 PM Central Time on November 6 (November 7 Beijing Time), $Tesla (TSLA.US)$ Tesla will hold its annual shareholders' meeting.
Among the key topics is the 2025 CEO Performance Award Plan, which has drawn significant attention. Robyn Denholm, Chair of Tesla, warned in a letter to shareholders on the 27th that if the company's CEO Elon Musk's 10-year compensation plan is not approved, Musk may step down. Under the proposed plan, Musk could receive Tesla stock worth approximately $1 trillion as compensation.
On November 10, the suspension period for reciprocal tariffs between China and the U.S. was set to expire. On August 12, both parties reached a joint statement during economic and trade talks in Stockholm, agreeing to continue suspending 24% tariffs on each other’s goods for an additional 90 days.
On October 26, the economic and trade teams of China and the United States concluded two days of consultations in Kuala Lumpur, the capital of Malaysia, exchanging views on important economic and trade issues such as extending the reciprocal tariff suspension period, fentanyl tariffs, and law enforcement cooperation. On October 30, the leaders of China and the United States held a meeting to exchange opinions on bilateral relations and issues of mutual concern.
After the US stock market closes on November 10 (Eastern Time) / November 11 (Beijing Time), the cloud service company $CoreWeave (CRWV.US)$ will release its latest quarterly earnings results.
Before the US stock market opens on November 12 (Eastern Time), Circle, the first stablecoin stock, $Circle (CRCL.US)$ will release its latest quarterly earnings results.
After the US stock market closes on November 19 (Eastern Time), NVIDIA, the global chip leader, $NVIDIA (NVDA.US)$ will release its latest quarterly earnings results.
The market widely expects NVIDIA's revenue for the third fiscal quarter to reach $54.7 billion, representing a year-on-year increase of approximately 56%; earnings per share are projected to rise by about 53%. Due to the explosive growth of artificial intelligence technology, NVIDIA's performance will become a benchmark for the entire AI industry, and the market will closely monitor whether it can continue to dominate this field.
At 3:00 AM on November 20, the Federal Reserve released the minutes of its monetary policy meeting.
On November 27, U.S. stock markets will be closed for a day in observance of Thanksgiving; the following day, markets will close early at 2:00 AM Beijing time due to the holiday.
In addition, there are several key economic data releases scheduled for November, including U.S. non-farm payrolls, the ADP employment report (commonly referred to as the 'mini non-farm payroll'), PPI, and CPI. However, the end date of the U.S. government shutdown remains uncertain, potentially delaying the release of some data. On October 24, the White House announced that inflation data for November may not be published due to the ongoing government closure.
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Editor/jayden