Log in to today’s North American session Market wrap for October 11
Markets kicked off the week with a TACO rebound — Trump Always Chickens Out — following a bloodshed Friday that briefly ended the euphoric “everything rally.”
Last week closed with fearful price action after days of relentless gains.
US–China trade war tensions resurfaced, shaking risk sentiment and triggering a massive wave of crypto liquidations that saw some altcoins plunge 40–70%, while ETH and Bitcoin wicked down nearly 20% around 16:45 ET on Friday.
But sentiment turned fast. A calming post from President Trump downplaying the severity of the trade spat helped markets breathe again over the weekend. Crypto staged a spectacular comeback, dragging US equity futures higher in a classic “weekend reversal”. Most traditional markets — the US, Japan, and Canada — were closed, but futures trading didn’t miss a beat.
Meanwhile, geopolitical developments were equally supportive. A major peace summit in Egypt produced concrete progress in the Israel–Hamas ceasefire deal, including hostage and prisoner releases, marking a breakthrough moment for Middle East stability.
By Monday’s open, risk appetite was fully restored: Dow futures up 1.25%, Russell +2.6%, and Gold and Silver surging to fresh all-time highs, as markets cheered the combination of cooling geopolitical risks and resilient optimism across assets.
