Shifts in Natural Gas Following the Volatile Moves- Commodities: Extreme buy and rising in gold (up a notch to 79%) and WTI (88% from 78%) while not too far off it in silver (74%), and shifts in natural gas (from a majority short 63% to a majority long 64%) following the volatile start- Indices: Nears extreme buy territory in the S&P (76% from 74% yesterday), and reaches heavy buy in both Dow (68% from 63%) and Nasdaq (66% from 60%); elsewhere, extreme long sentiment is highest in the Hang Seng (jumps to 90% from 83%)- FX: Shifts to the middle in GBP/USD (from a slight buy 52%), and heavy sell bias continues to rise in GBP/JPY (66%)Indices: A Positive Factor Before the Expected Fed Rate Cut- US equity index futures rise after Monday’s red session for the S&P 500 (-0.4% to 6,846), Nasdaq 100 (-0.3% to 25,627), and Dow 30 (-0.5% to 47,739) as Nvidia (NASDAQ:NVDA) gets the greenlight to sell H200 chips to China (see Stocks below); Treasury yields continued their recent climb, and market pricing (CME’s FedWatch) shows roughly 90% odds of a 25bp rate cut from tomorrow’s FOMC policy announcementStocks: Berkshire Shakeup, H200 Relief, and a Hostile Bid From Paramount- Berkshire Hathaway shares fell 1.4% as investment officer and Geico CEO Todd Combs to depart for JPMorgan- Shares of Nvidia close 1.7% higher but gains 2.3% in extended trading following news that the U.S. will allow H200 chip exports to “approved customers” in China though provided government gets a 25% cut, President Trump says same approach to be applied to AMD and :Intel with shares of both (and especially the former) climbing in extended trading- Paramount Skydance (NASDAQ:PSKY) (+9%) launches a hostile bid of $30 per share offering it directly to shareholders to acquire WBD (+4.4%); shares of rival Netflix drop 3.4% on the news as it also suffers a downgrade out of Pivotal Research- Tesla (NASDAQ:TSLA) shares fell 3.4% after Morgan Stanley downgraded the stock citing stretched valuation and potential demand headwinds for EVs- Broadcom (NASDAQ:AVGO) shares rose nearly 3% hitting a record high on reports Microsoft (NASDAQ:MSFT) (+1.6%) may move its custom chips business to it from Marvell (NASDAQ:MRVL) (-7%)- Confluent surged 29% after WSJ report IBM plans to acquire the data-infrastructure company in an $11 billion deal expected to close mid-2026- Meme stock movers: Beyond Meat (-6.6%), Kohl’s (-1.5%), GoPro (+2.7%), Krispy Kreme (+1.2%), Opendoor (-1.4%), AMC (+2.2%), BlackBerry (+2.2%), Nokia (+1.3%), GameStop (+1.5%)Commodities:- Calmer moves for gold sticking close to $4.2K ahead of the FOMC event tomorrow, with a similar story for silver around the $58s- Oil prices (WTI) suffer a notable drop breaking beneath $59 as oversupply fears emerge once more even as geopolitical updates are noted, with an even larger drop for natural gas undoing last Friday’s jump on milder weather forecasts combined with high production and storageFX/Central Banks/Crypto:- Bitcoin breach of its bear channel fails to stick as it moves back to $90K while Ether hovering around $3.1K yet to move out of it- US Dollar Index recovers off the lows albeit slightly with the gains limited ahead of tomorrow’s FOMC event- Reserve Bank of Australia holds on rates as expected at 3.6%- European Central Bank’s Schnabel ‘comfortable’ on bets that next move will be a hike though not any time soon, Rehn concerned over central bank independence in the U.S., and Kazimir that pass-through to prices from FX may not be as strong as expected- Bank of England’s Taylor that wage and services inflation is coming down, and that they have their foot on the brake a little bit still- Japan’s Katayama closely watching market trendsData:- U.S. New York Fed’s survey shows consumer inflation expectations unchanged in November- EZ German Industrial Production up 1.8% m/m (vs 0.2% forecast); Sentix Investor Confidence slightly improved to -6.2 (as expected, prior -7.4)Today:- U.S. NFIB’s business optimism index (3pm Dubai time), ADP’s employment change (5:15pm), JOLTS job openings (7pm, both for September and October), 10-year auction, API’s weekly energy inventory readings (1:30am)o Earnings from Thyssenkrupp, GameStop, Cracker Barrel, and AutoZone