Jin10 Data roundup of key news from yesterday and this morning

TechFlow news, November 6: According to Jin10 Data, a State Council report proposed supporting Central Huijin Investment Ltd. in playing the role of a quasi-stabilization fund to consolidate and improve the capital market stabilization mechanism. U.S. AI supply-chain stocks plunged, with the Nasdaq Composite falling sharply by 5.5% and the S&P 500 index losing USD 3 trillion in market cap.

The Bank of England raised interest rates by 25 basis points to 4.00%, marking its first rate hike since August 2023 and in line with market expectations. The National Bank of Poland increased its gold reserves by 28 tons in October; the World Gold Council said global gold ETFs recorded net inflows of USD 2.7 billion in October. Goldman Sachs cut its gold price forecast for the end of 2026 to USD 4,150 and lowered its forecast for the end of 2027 to USD 4,800.

Federal Reserve official Barkin said gradual rate hikes remain appropriate, while Hammack favored frequent, small adjustments to interest rates and said monetary policy needs to shift to a restrictive stance. Saudi Arabia cut the official selling price of Arab Light crude for December shipments to Asia to a USD 7 per barrel discount to the benchmark oil price. OpenAI launched GPT-6 Cyber, a cybersecurity model.

Source: TechFlow