Key Takeaways
- CME Group (CME) markets, including U.S. gold and silver futures, have resumed trading after an hours-long halt caused by a technical glitch at a data center. U.S. gold futures are up 0.3% at $4,215.3/oz.
- The German Bundestag has approved the 2026 federal finance plan, which includes €98 billion in net new borrowing, pushing the total net debt (including special funds) to nearly €182 billion.
- Canada's annualized GDP for the third quarter surged to 2.6%, significantly surpassing the 0.5% estimate and reversing the previous quarter's contraction.
- Adobe Inc. (ADBE) forecasts record online spending for the holiday shopping season, with Black Friday expected to hit $11.7 billion (+8.3% YOY) and Cyber Monday $14.2 billion (+6.3% YOY).
Global financial markets are reacting to a series of significant developments, including the resumption of trading on CME Group (CME) platforms after a technical outage, the approval of Germany's 2026 federal budget, and stronger-than-expected economic growth in Canada. Meanwhile, Adobe Inc. (ADBE) has released optimistic forecasts for online holiday spending.
CME Group Markets Resume After Hours-Long Halt
CME Group (CME) markets have fully reopened and are trading after an hours-long halt that affected various futures contracts, including U.S. gold and silver. The disruption was attributed to a cooling system malfunction at one of the company's data centers. Following the resumption, U.S. gold futures were up 0.3% at $4,215.3/oz. WTI futures also saw trading resume, opening at $58.90, up 0.43% from Wednesday's close, while U.S. natural gas futures rose 2.5%. CME Group announced that all day orders and GTDs with today’s date would be cancelled, but acknowledged GTCs would remain working. The CME Globex FX Spot Plus markets were scheduled to pre-open at 08:30 Central Time and open at 09:00 Central Time. The issue affecting the EBS Workstation Trader Deals Panel has also been resolved.
German Bundestag Approves Debt-Heavy 2026 Budget
The German Bundestag lawmakers have officially approved the 2026 federal finance plan. This budget includes a substantial €98 billion in net new borrowing. With the inclusion of special funds, Germany's total net debt for 2026 is projected to reach almost €182 billion. This marks a significant increase in borrowing, a level not seen since the COVID-19 pandemic. The government aims to use this increased spending to revive the economy and boost investments in infrastructure and defense.
Canada's Economy Surges in Q3, Exceeding Expectations
Canada's economy demonstrated robust growth in the third quarter, with its annualized GDP expanding by a notable 2.6%. This performance significantly outpaced analysts' expectations of a 0.5% increase and reversed the -1.6% contraction seen in the previous quarter. Monthly GDP for September also showed positive momentum, rising 0.2%, aligning with estimates and improving from the previous -0.3% decline. Year-over-year GDP growth for Q3 came in at 1.0%, exceeding the 0.6% estimate. The strong rebound was primarily driven by a strengthening trade balance, with exports edging up and imports falling, alongside increased government capital spending.
Holiday Shopping Season Forecasts Remain Strong
Adobe Inc. (ADBE) has released optimistic projections for online consumer spending during the current holiday season. The company anticipates a record $11.7 billion in online sales for Black Friday, marking an 8.3% year-over-year increase. Cyber Monday is expected to be even larger, with consumers projected to spend $14.2 billion online, representing a 6.3% increase from the previous year. These forecasts suggest a strong performance for retailers as consumers continue to embrace digital shopping channels.
In other news, Commerzbank has been mandated to compensate customers for negative interest rates, as reported by @suedeutsche. U.S. S&P 500 E-mini futures are also up 0.2%. Market participants are also looking ahead to next week's economic calendar and potential central bank actions.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.