The US October producer price index (PPI) is due today, November 13, at 13:30 UTC (8:30 a.m. ET). It arrives as bitcoin has fallen below $70,000, the US dollar has climbed to its highest level since April 2025 and 10-year Treasury yields have risen above 5%.The PPI is the last major inflation report before the Federal Reserve’s December 8–9 meeting, where markets expect a rate hike. Traders will be watching whether it supports a quarter-point move or a larger half-point one.What Economists ExpectMeasureSeptember (actual)October (forecast)Headline PPI, month over month+1.3%+0.4%Headline PPI, year over year6.3%6.6%Core PPI, month over month+0.7%+0.3%Core PPI, year over year5.0%—Source: Dow Jones consensusMonthly producer price growth is expected to slow sharply from September, when energy prices jumped 10.8% and drove about half of the rise. Even so, the annual rate is forecast to climb to 6.6%, its highest since 2022, because of a base effect: prices barely rose in October 2025, so a moderate increase this October lifts the yearly figure.Why PPI Matters to the FedProducer prices measure what businesses receive for goods and services, and they feed into the Fed’s preferred inflation gauge, the core PCE price index. Economists estimate October core PCE rose about 0.4%, and today’s PPI could change that estimate.The data follows a hotter-than-expected consumer price report on Tuesday, when headline CPI rose 0.4% and core CPI 0.3%. That core reading met the threshold Fed Governor Christopher Waller set for considering a 50 basis point hike. CME FedWatch showed about a 90% chance of a quarter-point December hike as of November 11, with the rest on a larger move.Bitcoin Falls Below $70,000Bitcoin fell to around $69,000 early Friday, down more than 6% in 24 hours, after touching a low of $67,922, according to CoinGecko data. That breaks the $72,000–$73,200 support zone near its 200-day moving average that analysts were watching earlier this week. Ether fell 5.2% to about $1,942 and BNB fell 5.9% to around $634.More than $1.3 billion in crypto futures positions were liquidated over 24 hours, mostly bets on rising prices, according to CoinGlass data. About $677 million of that was in bitcoin.ETF outflows have added to the pressure. BlackRock’s IBIT has lost more than $2 billion over nine straight sessions, and all US spot bitcoin ETFs together have lost about $1.44 billion over five sessions. The Crypto Fear and Greed Index fell to 20, “extreme fear,” its lowest since July 8.Dollar and Yields ClimbThe Dollar Index rose above 103, its highest since April 2025, according to CoinDesk, up from about 102 on Wednesday. The 10-year Treasury yield has risen above 5%, according to 10x Research, from 4.86% a week ago.A stronger dollar and higher yields tend to weigh on bitcoin. Higher yields make cash and bonds more attractive compared with assets that pay no income, and a rising dollar typically tightens global financial conditions. Both moves reflect expectations that the Fed will keep raising rates.How Markets Could ReactThese are typical market reactions, not forecasts:Hotter than forecast: a headline above 0.4% or core above 0.3% could strengthen bets on a 50 basis point hike, push the dollar and yields higher, and add pressure on bitcoin and tech stocks.In line: a quarter-point December hike stays the base case, and attention shifts to core PCE data and whether stock markets steady.Cooler than forecast: a softer reading could trim bets on a larger hike and ease the dollar, giving risk assets some relief after a heavy week.

China's trade surplus and net foreign exchange settlement will continue to provide support, and the RMB exchange rate is expected to fluctuate more in both directions in 2027, with three scenarios determining its direction.

The removal of Jensen Huang is not the end of the AI ​​bubble, but rather the price of the re-entanglement of technology companies with political power.

Less than 24 hours after Jensen Huang resigned, Nvidia was in an uproar: more than 1,600 comments and hundreds of people signed a petition demanding his reinstatement, while the board of directors was asked to resign en masse.

Nvidia's injection of trust into the entire AI industry chain seems to make it stronger but also more vulnerable. Using Yang Xiaokai's theory of division of labor, Huang Renxun's move represents a choice of governance model.

Of the 24 companies, exactly half had earnings that diverged from the initial price trend, meaning that passing the earnings target does not necessarily mean the market is willing to offer a higher price.

On November 12, 2026, Jensen Huang officially resigned from his positions as CEO and other roles, ending his 33-year leadership career at the company. Nvidia's stock price fluctuated significantly, impacting the US AI industry chain and the crypto market. What will become of Nvidia without Jensen Huang?

There is no such thing as a universal asset; they are simply assets with different roles: US Treasury bonds are like wages, gold is like insurance, and Bitcoin is like options.

After Jensen Huang's resignation, Nvidia has a chairman for the first time. CFO Kress temporarily took over, and Harvey Jones chaired the board of directors. The company is shedding the founder's leather jacket.

Bloomberg reconstructs the final hours before Jensen Huang's resignation: He suffered a mental breakdown, blamed himself, saying "I'm a bad person," and the board held an emergency meeting overnight to decide to ask him to resign.

Where does China stand in the global robotics race? What are its competitive advantages? More importantly, where are the untapped investment opportunities?