On November 10, the spot silver price extended its decline to 2.00%, reaching $52.34 per ounce, while the spot gold price fell 1.22% to $4,090.41 per ounce.
Nasdaq 100 index futures widened their losses to 0.5%, standing at 27,874 points.
On the news front, Federal Reserve Governor Waller voiced support for a December rate hike, stating he is open to a 50 basis point increase.
Previously, a UBS research report noted that US inflation pressures will continue to push the Federal Reserve toward further monetary tightening, with expectations of 25 basis point hikes in both December 2026 and March 2027.
However, UBS believes that strong economic growth and robust corporate earnings mean moderate rate hikes are unlikely to end the US stock market rally, and higher bond yields also present allocation opportunities for investors.
UBS holds that the US economy is capable of withstanding an extended period of elevated interest rates.
The firm projects that S&P 500 constituent companies will see earnings growth of 25% in 2026 and 14% in 2027, which is expected to help the stock market weather the pressure from moderate rate increases.
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