**Market Highlights** - U.S. stocks closed higher on Nov 11, led by tech shares, as optimism grew over a potential end to the government shutdown. - Among top-traded stocks, XPeng Inc. surged 16.24%, while NIO fell 2.41%. - Oil prices edged up amid hopes for a resolution to the U.S. government shutdown. - Spot gold climbed over 2.8%, reclaiming the $4,100 level. - European equities rallied on expectations of a breakthrough in the U.S. budget impasse.

**Macro Updates** - Former President Trump backed a Senate deal to reopen the government. - Trump hinted at nearing a trade agreement with India, including future tariff reductions. - Switzerland is close to a deal with the U.S. to lower export tax rates to 15%. - U.S. airlines canceled over 1,600 flights as shutdown effects worsened. - Senate Majority Leader expressed uncertainty over a temporary funding bill vote.

**Corporate News** - Warren Buffett plans to increase donations to his children’s foundations, supporting his successors. - Wells Fargo reported Tesla’s October sales declined sharply across regions. - Apple delayed the launch of its next iPhone Air, sending shares to intraday lows. - Visa and Mastercard agreed to lower merchant fees. - Pfizer secured an obesity drug deal with government backing and won the Metsera bidding war, outbidding Novo Nordisk.

**Commentary** - Analysts predict the U.S. shutdown could persist for days, with House approval uncertain. - JPMorgan Private Bank forecasts gold surpassing $5,000 by late 2026. - The CBO estimated October’s budget deficit at $219 billion. - A Fed official suggested advocating for a 50-basis-point rate cut in December. - Private data showed U.S. consumer price growth slowed for the first time in three months.

**Commodities & Bonds** - Oil rose on improved risk sentiment, outweighing oversupply concerns. - Gold and base metals broadly advanced. - The dollar index dipped as the shutdown neared resolution. - Short-term U.S. Treasuries remained under pressure despite strong 3-year auction demand. - U.K. short-term bond yields pared gains amid fiscal policy focus.