The S&P 500 and Nasdaq 100 rose while the Dow Jones fell slightly. AI optimism and M&A deals boosted stocks. Fed governors offered mixed comments, with Miran and Cook leaning dovish. The ISM manufacturing index disappointed, but the final-October S&P US manufacturing PMI was revised higher. Markets await Supreme Court arguments on Trump’s tariffs.

Q3 earnings season is strong, with 80% of S&P 500 companies beating forecasts. US government shutdown continues, impacting economy. Overseas markets closed higher. Interest rates and European government bond yields rose. Swaps hint at a possible ECB rate cut. Stock movers included Meta, Amazon, and Nvidia.

Crypto stocks traded lower, led by Bitcoin’s sell-off. IREN LTD rallied after a deal with Microsoft. Kenvue surged on Kimberly-Clark acquisition news. Cisco Systems rose after an upgrade. Eaton agreed to buy Boyd Thermal business. Earnings reports from various companies on 11/4/2025. Author did not have positions in mentioned securities.

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