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The latest market review · October 30, 2026

October 30 | Global Markets Daily: Tech Cash Returns Reassessed as Treasury Yields Fall Below 5%

On October 29, 2026, US real GDP growth accelerated to an annualized 3.4% in the third quarter, but real consumer spending was almost flat in September. Heavy capital spending by cloud giants squeezed free cash flow, sending the Nasdaq 100 down 1.38% as money rotated into small caps and financials. Safe-haven demand and softer quarterly PCE inflation pulled the 10-year Treasury yield down to 4.98%. The ECB held its rate at 2.50%, while oil and gold both closed lower.

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Options · October 30, 2026

Options Watch | Hang Seng Tech falls 2.84% into rollover as November call and put strikes each add over 2,000 contracts

The Hang Seng Tech Index closed down 2.84% on October 29, the last trading day for October monthly options. Total open interest in Hang Seng Tech options edged lower, while the November 3,900 call and 3,700 put each added more than 2,000 contracts in net open interest. The 3,700 put's quote jumped 49.2%, while the 3,900 call's fell 37%, highlighting the concentration of new positions at key strikes and the trade-offs facing covered-call strategies as they roll forward.

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Oil Markets · October 30, 2026

October 30 | Oil: Brent Edges Down to $114.88 as U.S.–Iran Contacts Ease the Risk Premium, but Diesel Remains Tight

On October 29, 2026, front-month December Brent and WTI crude futures recovered most of their losses after falling more than $2 intraday, settling slightly lower at $114.88 and $102 per barrel, respectively. Reports of U.S.–Iran contacts eroded part of the risk premium, but Houthi claims of attacks on Saudi facilities, constrained Middle Eastern exports, and draws in U.S. crude and distillate inventories continued to support backwardation in oil futures. The market's next focal points are the November 1 OPEC+ meeting, the Middle East's ability to deliver physical supplies, and changes in diesel supply as Russian refineries resume operations.

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Fed Watch · October 30, 2026

October 30 | Fed Watch: Q3 GDP Growth Accelerates to 3.4%, While Elevated September PCE Raises the Bar for Rate Cuts

U.S. real GDP grew at a 3.4% annualized quarterly rate in Q3, and real final sales to private domestic purchasers rose 4.9%, but September real consumption growth slowed to less than 0.1% month on month. Q3 core PCE inflation eased to a 2.5% annualized rate, while September's year-on-year rate remained 3.1%. The combination of strong growth and high inflation raises the bar for a near-term rate cut, leaving the Fed to monitor forthcoming wage and employment data.

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Middle East · October 30, 2026

October 30 | Iran War Update: Fresh Reports of Tanker Attacks in Hormuz as U.S.–Iran Contacts Remain Short of a Ceasefire Agreement

Reports of ships catching fire and tankers coming under attack have emerged in succession from the Strait of Hormuz, with Iran's navy claiming that four tankers struck mines. As maritime security incidents mount, Vance has written to a senior Iranian security official to explore renewed talks, but Washington and Tehran remain sharply divided over the nature of their contacts, ceasefire conditions and arrangements for the nuclear issue.

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