Markets Today: China Exports & Imports Slide, ITV Jumps 18%, FTSE Eyes 100-Day MA. Michigan Sentiment Data Ahead

Most Read: Has the Market turned on the AI boom? – Market wrap for the North American session - November 6

Asian stocks dropped today (Friday), ending a shaky week where traders were torn between excitement over new technology and rising worries that the value of Artificial Intelligence (AI) companies is too high.

The overall MSCI Asia Pacific stock index fell significantly, heading for its worst weekly performance since early August. In Japan, companies connected to chips and technology, like SoftBank, were the biggest losers. Japan's Nikkei fell 1.2% to head for a weekly loss of 4.1%, the largest since April.

This decline followed a poor night on Wall Street, where big AI stocks like Nvidia tumbled and a key measure of market fear (the VIX) jumped. Globally, the stock market is set to end a four-week winning streak.

Investors who previously drove the market rally, expecting both Federal Reserve rate cuts and AI-driven growth, are now questioning whether the massive spending on AI computers will actually lead to enough profit. Several top Wall Street figures have recently warned that the entire stock market gain is relying on just a few large technology companies.

China's exports surprisingly dropped by 1.1% in October 2025, falling to an eight-month low of $305.4 billion. This was a reversal after a big jump in September and was much worse than the 3% growth expected.

This was the first decline in exports since February, mainly because overseas orders slowed down after many buyers placed orders early to avoid new US tariffs. Buyers were also cautious due to the very uncertain trade relationship between the US and China that month. The drop was also made worse by the Golden Week holiday, which meant fewer work days, and high export figures from the same time last year.

Exports to key countries like Japan (-5.7%) and South Korea (-13.1%) fell, and shipments to the US plunged by a massive 25.2%, marking the seventh straight month of double-digit declines there. Despite the poor October, China's total exports for the year-to-date are still up 5.3%, showing solid growth to the EU, ASEAN countries, and Japan, even though exports to the US are down 17.8% over that same period.

European stocks saw a small rise today, providing a stable close to a week that was otherwise troubled by worries about high prices for technology stocks worldwide.

The main European stock index, the STOXX 600, was up 0.2% but is still on track for its biggest two-week loss since early September. Analysts believe this week's drop was due to several issues, including the high cost of tech stocks, the U.S. government shutdown, and tough talk from the Federal Reserve about interest rates.

In company news, ITV's stock jumped over 18% after it confirmed talks to sell its broadcasting division to Sky (owned by Comcast) for about £1.6 billion. This news helped boost the overall media sector.

Conversely, Rightmove lost 24% after the property website predicted slower profit growth for 2026, as it plans major long-term investments, mostly in Artificial Intelligence. Finally, Italian bank Monte dei Paschi di Siena gained 4.5% after reporting a surprisingly good third-quarter profit.

On the FX front, the US dollar is set to end the week slightly higher, as investors try to weigh the Federal Reserve's aggressive interest rate stance against ongoing worries about the US economy.

The dollar index, which tracks the dollar's value against several other currencies, rose a small amount to 99.81 and has gained slightly over the week. Despite this recovery, the dollar is stuck in the same narrow trading range it has been in since August.

Looking at other currencies:

The euro fell slightly to 1.1535 against the dollar but performed better than the British pound and Swiss franc.

The dollar rose against the Japanese yen to 153.41, after earlier hitting its lowest level since October 30th.

The Australian dollar stayed flat, while the New Zealand dollar (kiwi) fell slightly.

Currency Power Balance

Oil prices increased slightly on Friday, but they are still expected to post their second straight weekly loss. This is because prices fell sharply over the previous three days due to concerns that there is too much oil supply available and that demand in the US is slowing down.

Brent crude oil rose 1% to 63.98 a barrel, and US West Texas Intermediate crude was also up 1% at 60.04.

Gold prices increased today because of two main factors: people are more hopeful the Federal Reserve will cut interest rates in the future, and there are continuing worries about the US economy, which is being hurt by the long government shutdown.

These factors boost demand for gold as a safe investment. The price of spot gold (XAU) was up 0.8% to 4,010.72/oz, with December gold futures showing a similar gain, up 0.7% to 4,019.50/oz.

For more on Gold prices, read Gold (XAU/USD) Price Slips 1.5% as $4000/oz Handle Remains Elusive. What Comes Next?

The dollar had an up-and-down week. It started strong but eased off yesterday after some reports suggested that US job growth might be slowing. However, because the US government shutdown is still happening, we don't have the full, clear picture of the job market yet.

For now, expect the dollar to trade sideways, with investors focusing on other major news, such as the weak trade data from China and the upcoming jobs report from Canada.

From a technical standpoint, the FTSE 100 has broken below the ascending trendline hinting at a deeper correction.

Fundamentals do however remain positive for equities and this makes any potential trade an interesting proposition.

Looking at the period-14 RSI and it remains above the 50-mark which is a sign of bullish momentum.

If the 50 neutral level on the RSI holds, this could set the tone for further upside.

FTSE 100 Index Daily Chart, November 7. 2025

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