US stocks rebounded from early losses to close mostly higher on Friday amid hopes that Congress members were making progress toward ending the government shutdown. The S&P 500 and the Dow Jones closed 0.3% higher, while the tech-heavy Nasdaq closed near the flatline as AI giants remained under pressure. Senate Republicans rejected Democrats' offer to scale down shutdown demands, but lingering hopes of an incoming agreement improved risk sentiment before the closing bell. The suspension of operations and government data were evidenced by the deteriorating consumer confidence measured by the University of Michigan survey, which came out at the second-worst reading on record in November. Consumer defensive and energy companies led the gains, with Exxon Mobil, T-Mobile, and Coca-Cola adding more than 2%. In turn, concerns that valuations for AI companies have been stretched too far continued to pressure the tech sector, with Tesla dropping 4% while Meta and Oracle fell 2%.

The unemployment rate in Canada fell to 6.9% in October of 2025 from the four-year high of 7.1% in the previous month, compared with market expectations that it would remain unchanged at 7.1%. National employment increased by a net 66,600 jobs to 21,015,300, extending the jump from the previous month and contrasting sharply with bets that it would drop slightly. Meanwhile, the number of unemployed individuals fell by 49,200 to 1,557,300. Joblessness was lower for core-aged men (-0.2 percentage points to 6%) and was little changed for core-aged women (5.7%). In the meantime, the youth unemployment rate fell by 0.6% to 14.1% for its first decline since February. In turn, long-term unemployment was at 21.3% of the jobless population, comparable to the ratio from the corresponding period of the previous year.

The ongoing US government shutdown, now the longest in history, is likely to extend the halt in US economic data releases. This will leave the spotlight to private data, featuring weekly ADP employment figures and the NFIB Small Business Optimism Index. In Europe, data updates will be headlined by the GDP and labor market insights in the UK, which will join the Eurozone in releasing industrial production. In Asia, investors will turn to China's data dump for industrial production, retail sales, property prices, and credit aggregates. Also, Japan will post its fresh GDP estimates. Finally, a slowing earnings season will see results from Cisco, Disney, and Applied Materials in the US while major reports elsewhere include Tencent, Alibaba, Softbank, Sony, Siemens, Munich Re, and Allianz.

The US Manheim Used Vehicle Value Index declined 2% month-over-month in October 2025, the biggest drop since April 2024, following a 0.2% decline in September. Trends get a little spooky in October for the wholesale markets, typically showing us the highest levels of depreciation in the year and this year was no exception. It’s typical to see higher declines for values in October, as dealers slow down ahead of winter, and the new model year mix grows in retail inventory, both of which can put pressure on values", said Jeremy Robb, Deputy Chief Economist at Cox Automotive. EV prices fell 3% while non-EV dropped 2.2%. Year-on-year, used car prices stalled, following a 2% gain in September. The luxury vehicle segment outperformed the overall market as it has for several months, influenced by higher EV prices helping the segment. On the other hand, compact and mid-size cars continue to see the largest declines compared to last year.

Brazil’s producer prices fell 0.25% month-on-month in September 2025, following a 0.21% drop in August, marking the eighth consecutive decline in the PPI. Prices decreased in 12 of 24 industrial activities, led by wood (-3.08%), apparel (-2.29%), and other chemical products (-1.75%). Food prices fell 0.4%, extending their losing streak to five months. Paper and pulp dropped 0.85%, while machinery and equipment were down 1.17%. In contrast, printing rose 3.59%, mining gained 0.53%, petroleum refining and biofuels increased 0.21%, pharmaceuticals advanced 1.49%, metallurgy edged up 0.14%, and motor vehicles rose 0.50%. By major economic category, capital goods declined 0.45%, intermediate goods 0.60%, while consumer goods increased 0.29%. Year-on-year, producer prices fell 0.4%.

Annual inflation in Mexico eased to 3.57% in October 2025 from 3.76% in September, marking the first deceleration in three months and coming broadly in line with analysts' estimates of 3.56%. Inflation stayed comfortably within the central bank’s 2%–4% target. Price growth moderated primarily for food & non-alcoholic beverages (2.64% vs 3.94% in September), on account of fresh food; restaurants & hotels (7.48% vs 7.61%) and miscellaneous goods & services (5.69% vs 6.06%). Meanwhile, other categories saw faster increases in prices, including health (5.05% vs 4.83%); alcoholic beverages & tobacco (4.62% vs 439%) and housing & utilities (3.68% vs 3.45%), due to higher energy costs (1.07% vs 0.36%). Meanwhile, the core inflation rate, which excludes energy and fresh food prices, stood at 4.28%, the highest since April 2024, largely matching forecasts of 4.27%. On a monthly basis, the CPI rose by 0.36% in October, the most in ten months, up from September's 0.23%, matching forecasts.