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Next week's macro outlook: The U.S. midterm elections and non-farm payrolls will be the focus, Apple and AMD will release their earnings reports

From November 2 to 8, global markets will welcome several events. The U.S. midterm elections, Apple and AMD earnings reports, and October non-farm payroll data will become the focus of market attention. The Bank of England, the Reserve Bank of Australia interest rate decisions, the results of the Israeli parliamentary elections, and the progress of the trilateral negotiations among Russia, the U.S., and Ukraine will also be closely watched. In the tech sector, Apple and AMD will release their latest earnings reports, serving as an important test after the confidence in AI trading has been impacted. Apple is expected to report revenues of about $113 billion, marking the first earnings report since the appointment of new CEO Tim Cook; AMD is expected to report revenues of about $13 billion, with attention on the progress of Helios cabinets and MI450 chips.Additionally, Qualcomm, Advanced Micro Devices, Coherent, Lumentum, and Berkshire Hathaway will also announce their performance. There are also reports that Marvell is negotiating to acquire Lumentum, with an announcement possible as soon as next week. Apple's smart access testing plan with Alibaba Qianwen will open on November 4. On November 3, the U.S. midterm elections will re-elect all 435 seats in the House of Representatives and 35 seats in the Senate, and the election results will affect the fiscal, tariff, and industrial policy advancement space of the Trump administration in the next two years.The final results of the Israeli parliamentary elections are expected to be announced on November 4, and the trilateral negotiations among Russia, the U.S., and Ukraine are scheduled to resume next week in Abu Dhabi. In terms of macro data, the U.S. October non-farm payroll report will be released, following a mere 29,000 new jobs added in September, with the market expecting an increase of 65,000 jobs in October. If the employment data performs strongly, it may further strengthen market expectations for a Federal Reserve rate hike in December and impact the U.S. dollar, U.S. Treasury bonds, and gold prices. China's October foreign exchange reserve data will also be released.

Cryptocurrency casino Gamdom was extorted by the organization Whitearmor for a ransom of 15 million dollars in Bitcoin

According to Bitcoin.com, the cyber extortion group Whitearmor claimed on October 26 that it had stolen 15,420,003 account records from the crypto casino Gamdom, with each account containing 146 data fields, and demanded a payment of 15 million dollars in Bitcoin, or else they would expose sensitive customer information.The group has published a JSON sample of about 437KB, containing approximately 100 records as so-called evidence on its ransom website, claiming that the cumulative profits corresponding to these accounts exceed 1 billion dollars, but did not specify how this was calculated. It is reported that the attackers exploited an internal machine account with administrator privileges that had not rotated its credentials for a long time.Previously, Gamdom suffered a hot wallet attack on October 13, with founder Felix Römer admitting losses exceeding 3 million dollars, and blockchain researcher vxdb estimating the stolen amount across multiple networks to be about 4.2 million dollars. After suspending operations, the platform resumed on October 16, stating that user balances were unaffected. Gamdom disputed the scale of 15.4 million accounts but acknowledged that usernames, email addresses, and gambling activity information may have been exposed, while stating that verification documents were not affected.

The CFTC of the United States rebuts the lawsuit qualification of CME: stating that it has not reasonably explained how the perpetual contract policy caused financial harm

The U.S. Commodity Futures Trading Commission (CFTC) stated in its latest court filing that CME only claims increased competition without reasonably explaining the existence of imminent financial harm, which is insufficient to qualify for a lawsuit challenging its perpetual contract policy. The CFTC pointed out that after the policy adjustment, CME's cryptocurrency futures trading volume has actually increased.In May of this year, the CFTC approved Kalshi's first Bitcoin perpetual contract and stated that it would regulate such products on a case-by-case basis under futures regulations. CME, on the other hand, believes that perpetual contracts do not have an expiration date and should be classified as swaps rather than futures, subject to a different regulatory framework. Last month, the CFTC requested a federal judge to dismiss the case, and this filing further elaborated on its rebuttal to CME's standing in the lawsuit.The CFTC also noted that CME had previously informed investors that it had not heard customer demand for perpetual contracts, and that such products could not replace its existing futures, and that it should not take different positions in court and during earnings calls. TD Cowen policy analyst Jaret Seiberg believes that CME may still have the upper hand regarding its standing in the lawsuit and the argument that the products should be classified as swaps. However, he is concerned that if the perpetual contract market continues to grow during the litigation, it may become more complicated to dismantle this market if CME wins.
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