Key Facts
• Japan’s Finance Official noted yen-dollar exchange rate deviates from interest rate trends.
• U.S. Supreme Court questions legality of Trump-era tariffs; $100 billion refund possible.
• October U.S. ISM Non-Manufacturing Index rose to 52.4, exceeding all forecasts.
• New York Mayor Zoran Mamdani faces challenges, including federal funding under Trump.
• Novo Nordisk revised annual forecast due to weaker sales of key diabetes and obesity drugs.
Summary
Today’s key news highlights include Japan’s concerns over yen-dollar exchange rate deviations and the U.S. Supreme Court’s scrutiny of Trump-era tariffs, potentially leading to a $100 billion refund. The U.S. economy showed resilience with an 8-month high in the ISM Non-Manufacturing Index and stronger-than-expected private employment growth. Meanwhile, New York’s new mayor, Zoran Mamdani, faces federal funding challenges under Trump, risking his progressive agenda. Lastly, Novo Nordisk struggles with competition and revised its annual forecast due to weaker-than-expected sales of its diabetes and obesity treatments.
