The Global Pulse Weekly Update 12th Oct'26

Borrowing costs set the tone. The US 10-year Treasury yield, what the US government pays to borrow, hit a 24-year high on Wednesday, then fell back to about 5.25% by Friday.

Stocks dipped midweek. A report that OpenAI’s revenue was about $20 billion below earlier estimates hit AI shares on Thursday. The S&P 500 still ended the week up 1.2% and the Nasdaq 0.6%.

Oil stayed above $100 a barrel after Hurricane Isaias shut nearly 63% of US Gulf output. It eased on Friday once Trump ruled out attacking Iran before the November 3 midterms, which lifted the FTSE 100 0.9%.

Gold bounced off a two-month low to end 1.3% higher

AI doubts hit Asian chip stocks, but the Nikkei 225 still rose 1.1%. Shanghai reopened after its holiday and the SSEC slipped 0.7%.

India caught a break. The RBI raised its key rate to 5.50%, blaming oil, inflation and a weak rupee, and foreign investors kept selling. The Nifty 50 still rose 0.4%, ending an eight-week losing run.