KG: Market "Still Has to Prove Itself" After NVDA Rally

分组1: Existing Home Sales - Existing home sales for October came in at 4.1 million, slightly above the expected 4.08 million, indicating stability in the market [2] - There was a downward revision in previous months, with September at 4.05 million and August at 4.06 million, suggesting a muted recovery [2][3] - Inventory levels are increasing, which may lead to a decrease in prices and potentially activate more buyers in the market [4] 分组2: Labor Market and Job Reports - The September jobs report showed an addition of 119,000 jobs, significantly exceeding the market expectation of around 51,000 [6][7] - The unemployment rate increased to 4.4% from 4.3%, while average hourly earnings rose by 0.2%, indicating a deceleration in inflation [9] - Revisions to previous months' job numbers were negative, with August revised down to -4,000, raising concerns about the labor market's health [8][10] 分组3: Market Reactions - The S&P 500 saw an increase of 1.8%, with approximately 80% of stocks in the green, indicating positive market sentiment [14] - The VIX index decreased to around 19.6%, reflecting reduced volatility in the market [12] - The market is closely monitoring the 20-day moving average as a key resistance level [17] 分组4: Currency and International Markets - The Japanese yen weakened to its lowest level in 10 months, influenced by expectations of a $135 billion stimulus package aimed at combating inflation [20][21] - Japanese government bond yields have risen to levels not seen since 2008, indicating increased borrowing concerns [19][24] 分组5: Commodity Market - Oil prices increased by about 7%, driven by geopolitical tensions and the denial of peace talks by Russia regarding Ukraine [28][29] - Silver is highlighted as a key indicator for the equity market, with its performance potentially influencing broader market trends [30][31]