Overview
- Wall Street closed higher Monday as the Dow rose about 0.81%, the S&P 500 1.54% and the Nasdaq 2.27%, led by gains in Nvidia (+5.79%) and Palantir (+8.8%).
- Early Tuesday trading signaled a softer tone as concerns about stretched technology and AI valuations resurfaced and tempered momentum.
- Mexico’s S&P/BMV IPC and FTSE BIVA each fell roughly 0.45% after early gains, with Grupo Carso, Bimbo and Becle leading declines, as Banxico’s governor signaled a possible rate cut in December.
- Air travel remained strained as American Airlines reported more than 250,000 customer flights canceled or delayed over the weekend and the FAA ordered a 4% cut to daily flights at 40 major airports, with larger reductions warned if the shutdown persists.
- Global cross-currents included a new record for Spain’s Ibex 35 and a 0.2% year-on-year rise in China’s October consumer inflation, pointing to mixed but supportive signals for risk assets.