Japan Household Spending YoY

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Australia Westpac Consumer Confidence Index

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TE Grains Index decreased to 264.21 Index Points, the lowest since August 2026. Over the past 4 weeks, TE Grains Index lost 7.42%, and in the last 12 months, it increased 13.19%.

TE Grains Index Hits 12-week Low

US stock indices rebounded on Monday from last week’s rout as renewed dip buying drove the market toward its best day since April. The S&P 500 gained over 2%, the Dow rallied more than 1,000 points, and the Nasdaq outperformed with a gain of over 3%. Chipmakers rallied after Friday’s plunge, when Democrats took control of Congress and drove markets to speculate on lower returns for AI companies, compounding concerns that the sector’s growth was slowing. AMD (+13%) was upgraded to outperform at Oppenheimer. Broadcom and Lam Research surged nearly 9%, Micron jumped 6%, and Applied Materials soared over 11.5% ahead of its earnings this week. In contrast, Nvidia tumbled 5% after CEO Jensen Huang admitted to an affair with a suspected Chinese spy, potentially prompting Congress to tighten export controls on its chips. Among hyperscalers, Alphabet (+2%) is rolling out a broader array of AI chips. Meta jumped 5%, Microsoft rose 2.5%, and Amazon added 3.5%.

Wall Street Rebounds on Tech Dip Buying

European stocks closed sharply higher on Monday, erasing the declines from the two prior sessions as markets reassessed the outlook on AI deployment and infrastructure development. The Euro STOXX 50 gained 1.9% to 6,290 and the STOXX Europe 600 added 1.3% to 656.6. UniCredit shares surged nearly 7% after the lender posted strong earnings and signaled that it could take control of German counterpart Commerzbank by the end of the month. Other banks also closed higher, with Santander, BBVA, and Deutsche Bank adding between 2.5% and 3.5%. Similarly, Banco BPM soared 10.7% after French Credit Agricole, which already controls around 30% of the Milanese bank, stated interest in acquiring the lender. Meanwhile, AI infrastructure stocks rebounded sharply from their selloff on Friday as markets eased concerns that a Democratic-led US Congress would slow datacenter development. ASML jumped 4.7% and Infineon gained 6.2%.

European Stocks Rise Sharply on Monday

Lumber futures fell below $510 per thousand board feet, reaching its lowest level since September 2025, as expectations grew that tariffs on Canadian lumber could be reduced. A Democratic sweep of the US Congress raised prospects for support to repeal the duties, while the Trump administration has yet to secure a trade agreement with Canada amid ongoing negotiations. The removal of tariffs could increase US lumber supply and place further downward pressure on prices. The US Commerce Department previously lowered antidumping and countervailing duties on Canadian softwood to 24.75% from 35.16%, although a separate 10% tariff keeps the total rate elevated at 34.75%. Meanwhile, prolonged trade barriers continue to weigh on the already weak US housing market, while mill closures across North America could tighten supply. Housing demand remains constrained by mortgage rates above 7% and high construction costs, although rates have declined for a third consecutive week.

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