The United States initiated what could be a controversial policy, allowing private companies access to 19 metric tonnes of weapons-grade plutonium from dismantled Cold War nuclear warheads to power advanced reactors for AI data centres, reversing an earlier $20 billion plan to dispose of the material. The executive order is part of a broader effort to boost domestic nuclear fuel production and reduce reliance on foreign uranium suppliers. Companies such as Oklo and Newcleo are expected to apply, with Oklo already investing billions to build infrastructure. However, critics warn the plan revives a failed plutonium-to-reactor fuel programme that previously exceeded $50 billion in costs and raises serious nuclear proliferation risks. National security experts argue the initiative could undermine the nuclear weapons modernisation programme by diverting resources from warhead production and straining already limited capacity at national laboratories. The policy has also sparked debate over whether the U.S. is prioritising Silicon Valley’s AI power needs at the expense of nuclear deterrence and global security.
EQUITY
The Dow Jones beat other indices to a record high thanks to strong earnings from major industrials and consumers such as General Motors, Coca-Cola, and 3M. The positive earnings momentum, with 87% of S&P 500 companies beating expectations, outweighed the cost of the government shutdown and suspended U.S. economic data to the economy. General Motors topped the chart with a 14.9% gain after raising its annual profit outlook due to lower tariff pressure and lesser EV segment losses.
GOLD
Gold finally hit a 5.3% bump with lows nearing $4,000 after a dramatic selloff, the biggest drop since 2013, probably due to profit-taking now that the street is flooded with queues buying up physical gold. Experts see it as a short-term correction rather than a reversal, pointing to solid fundamentals, while the World Gold Council says gold is still underowned in comparison to world stocks with room for future growth.
OIL
Crude oil gained over 2% on supply disruptions linked to U.S.-Russia tensions and Western pressure on Asian buyers to reduce Russian oil purchases, alongside hopes of a U.S.-China trade deal and a U.S. plan to refill its Strategic Petroleum Reserve with 1 million barrels. Geopolitical risks in hotspots like Russia, Venezuela, and the Middle East are preventing prices from falling below $60, with analysts citing short-covering contributing to the rebound.
CURRENCY
The greenback held steady near 98.9 after a three-day rally, in part due to the weak yen, even with the ongoing government shutdown, which has now extended into November, according to prediction markets. The pound fell after UK inflation came in below forecasts, while the euro remained flat even when Trump-Putin summit talks halted. China's yuan is firm against the dollar with a stable midpoint as trade talks with the U.S. continue.
