Dow Jones reaches another new record; Is the Shutdown over? – Market wrap for the North American session - November 12
BY
Ben Graham
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Log in to today's North American session Market wrap for November 12
Traders came back from the November 11th Holiday and the Stock rotation came strong yet again.
The Dow Jones pursued its strong rally higher, following European benchmarks, towards a new record close of 48,254 (+0.68%).
Even on a lower scale than yesterday, tech stocks continued to see major outflows towards more traditional sectors such as Financials and healthcare – A new trend could be in its early beginnings.
When looking at the renewed downmove in Cryptos, it really resembles like an aversion towards higher beta assets is at least forming.
Metals however have shined bright in another remarkable session: Silver is up 4.30%, Platinum and Palladium above 2% and the same for Gold.
The US House will pass a vote at 19:00 P.M. to finally reopen the US Government – This one should be successful when looking at the different concessions achieved throughout the past weekend.
Read More:
Cross-Assets Daily Performance
The large outperformers of today are the usual Gold and Stocks combo, but not at such an usual form:
The Dow Jones has beaten its comrades to the top, while Cryptos and Nasdaq struggled.
On the other side, US Oil has seen one of its craziest days in months' after this morning's OPEC report.
Expect some wild days ahead!
A picture of today's performance for major currencies
Yesterday's risk-on currency FX picture maintained today, and got magnified from the latest Takaichi comments (Japan's current PM).
This by itself sent the Yen lower but as you may obnserve, some midday mean-reversion contained the extend of such moves.
It seems like Forex participants are still awaiting for further US data to move their pieces further.
A look at Economic data releasing throughout tonight and tomorrow's sessions
Markets head into a loaded evening with several key data releases out of Australia, while traders await for the Shutdown vote to take place.
The highlight will be Australia’s October labor report, with employment change expected at +20K and the jobless rate steady at 4.4%.
Any downside surprise could strengthen the case for an RBA pivot in early 2026 after quite a tenace performance throughout 2025.
Thursday shifts focus to UK GDP (Q3 preliminary) — expected to slow to 0.2% QoQ — alongside weak industrial and manufacturing figures, setting the tone for the pound.
Europe follows with the ECB Economic Bulletin and additional policymaker speeches, while the U.S. calendar remains quiet due to the BLS data blackout, with no CPI or jobless claims.
However, traders will stay alert for potential U.S. government reopening news at 19:00 ET, which could trigger late-session volatility.
Safe Trades!
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