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A special committee appointed by President Donald Trump has rescheduled the hearing for Federal Reserve Governor Lisa Cook to Dec. 14, a White House official said Wednesday. Trump set up the “committee of inquiry” in early October to investigate allegations that Cook made false statements related to “one or more mortgage instruments.” The New York Times first reported the rescheduling.
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At the open on Nov. 5, domestic gold prices were little changed from the previous session's close. Gold rings were quoted at 136.5–140.8 million VND per tael and SJC gold bars at 139.4–142.4 million VND per tael. Spot gold on the international market reached 4,069 USD per ounce, up 0.22%, after a 3.4% gain in the prior session. The rally was supported by a weaker US dollar after the Democrats' decisive win in the US midterm elections, alongside concerns over US fiscal prospects. Investors are watching this week's US jobs data for clues on the Federal Reserve's interest rate outlook.
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Amazon workers across the Greater Toronto Area have launched a new organizing drive with Unifor, seeking safe jobs, fair pay and respect ahead of Black Friday. The union notes Amazon reported US$28.1 billion in operating income in Q3 2026, with an operating margin of almost 14%, its highest ever, while many associates received a wage increase of only $1/hour in 2026. Workplace Safety and Insurance Board data shows Amazon's 2025 injury rate was more than double its 2020 level, and annual injury claims have nearly tripled. Ontario holds more than half of Amazon's Canadian workforce, and workers at the YVR2 warehouse in Delta, B.C. are close to securing the first collective agreement at Amazon in North America. Unifor, Canada's largest private-sector union with 320,000 workers, says workers have a legal right to organize.
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- S&P 500, Nasdaq Surge Ahead After Democratic Sweep, Dow Jumps To One-Year High On Lower Oil — AAPL, SNAP, INTC, CRWV, QCOM In Focus
U.S. stock indices closed higher on Wednesday as tech and chipmaker shares recovered, with traders betting a Democratic sweep would slow AI capital spending. The S&P 500 gained 2%, the Nasdaq 100 rose 1%, and the Dow Jones jumped 3% to a one-year high, while WTI and Brent crude each fell about 8%. In contrast, semiconductor ETFs SMH and iShares Semiconductor dropped about 3% amid weakness in NVDA, MU and AVGO. Analysts said a divided government may limit additional fiscal stimulus and ease pressure on Treasury yields. Snap shares tumbled 11% after hours, and Intel CEO Lip-Bu Tan bought 150,000 shares worth $9.7 million through a family trust.
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Rising energy demand is opening new investment opportunities, though geopolitical risks and uncertain oil prices are challenging the industry. Baker Hughes CEO Lorenzo Simonelli is optimistic about the long term, citing AI, population growth and developing nations, and says the industry has a 'demand decade' ahead. He expects industry activity to rise by a low-single-digit percentage in 2027 and says the Middle East conflict highlights the need for more resilient infrastructure, including storage and pipelines. RWE CEO Markus Krebber says AI and electrification are driving electricity demand, but geopolitical tensions, supply chain pressures and higher interest rates are complicating investment decisions. BP CEO Meg O'Neill stresses that wide forecast ranges for global energy demand matter for long-lived projects, while Energy Aspects expects oil markets could be oversupplied in 2027 and 2028 if Middle East flows return to normal.
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