The U.S. bond market reopens after the holiday to find Wall Street hitting fresh record highs. Big Tech and major banks are fueling excitement in earnings season, while concerns over China's economic demand and doubts about stimulus measures weigh on Asian markets.
The U.S. Dollar Index remains steady, and gold has struggled to break through a key resistance level, resuming its decline. Meanwhile, WTI crude oil is nearing a critical support zone just below $68 per barrel.

Asia-Pacific Markets
China's economy is projected to grow by 4.8% in 2024, falling short of government targets, with growth potentially slowing to 4.5% in 2025, according to a Reuters poll. This places added pressure on Chinese policymakers to introduce more stimulus measures.
The U.S. Dollar has encountered resistance around the 149 mark against the Japanese yen, while the Australian dollar continues to trade above 0.67 against the U.S. dollar.

European Markets
German investor confidence improved more than expected in October, with the ZEW Economic Sentiment Index rising to 13.1 points, up from 3.6 in September, according to the ZEW economic research institute.
In the U.K., the British pound edged higher against both the dollar and the euro after mixed labor market data. This could pave the way for the Bank of England to consider lowering interest rates next month, though any rate cuts are expected to proceed cautiously.

American Markets
On Wall Street, both the S&P 500 and Dow Jones closed at record highs on Monday, as investors flocked to technology stocks ahead of a crucial week filled with corporate earnings reports and key economic data. With 41 S&P 500 companies set to report earnings, the influx of data will help investors gauge the health of the U.S. economy and assess whether current stock market valuations are justified. Meanwhile, two Federal Reserve officials delivered cautious remarks on future interest rate policies, signaling a measured approach moving forward.