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The Trading Day · Monday, November 2, 2026

Overnight — Markets steady after Friday's chip rout: Nasdaq futures +0.8%, Kospi +2.2%, Bitcoin near 78,000

Markets were calm overnight. After Friday's sell-off in chip stocks, Nasdaq-100 futures traded up 0.81% at 28,765.50 at 07:17 UTC and S&P 500 futures up 0.42% at 7,645.75, with small-cap futures up 0.49% and Dow futures 0.29%. Nobody in Asia sold as if Friday had been the start of something bigger: of the eight main indices in the region, five rose.

The Morning 10

Overnight — Markets steady after Friday's chip rout: Nasdaq futures +0.8%, Kospi +2.2%, Bitcoin near 78,000

  1. 1 Asia — Kospi +2.2%, China +1.1%, Taiwan and Japan barely lower after the chip rout
  2. 2 Asia's AI Names — SK Hynix +3.8%, Tokyo Electron +5.2%, TSMC −3.5%, Kioxia −15.8%
  3. 3 US Futures — Nasdaq-100 +0.8%, S&P 500 +0.4% at 07:17 UTC
  4. 4 Bitcoin and Gold — Bitcoin steady near 78,000 all weekend; gold 3,916, still under 4,000
  5. 5 Dollar, Yen and Bonds — no flight to safety; TLT held above 81.50 on Friday
  6. 6 Friday in Brief — S&P 500 −1.8%, chips −8.2% after Intel's 28.6% plunge
  7. 7 AI Indices — Rubin down 6.1% on Friday, still up 0.6% on the week
  8. 8 Earnings Grades — Alphabet, Microsoft, ServiceNow and Eli Lilly are graded at tonight's close
  9. 9 Today — German retail sales −2.0%, US factory survey at 15:00 UTC, Apple and Palantir after the close
  10. 10 Dan Niles · Niles Investment Management

The full Morning 10 →

Daily Pulse — Memory — Korea Rises, Kioxia Falls

Korea's memory makers were bought back this morning: SK Hynix rose 3.8% to 1,472,000 won and Samsung Electronics 1.8% to 229,000, after US memory and storage stocks fell between 5.3% (Micron) and 13.5% (SanDisk) on Friday. Tokyo split the same way: Lasertec gained 8.0%, Tokyo Electron 5.2% and Advantest 2.6%, while the flash maker Kioxia fell 15.8% and SCREEN Holdings 19.0%, with no dated cause published by the time of writing. Twice in two sessions the makers of DRAM and AI memory held up best and the flash and storage names fell most. If that order holds, the market is pricing memory as two trades, not one.

The full Pulse →

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