4th November 2025 – AI rally continues as AWS joins the OpenAI “pass the parcel”

MPC Markets Morning Call · Nov 3, 2025 · 12m

Global equities were mixed, as the AI rally kept Nvidia and Amazon rising while Meta and some indices fell; AWS signed a major deal with OpenAI and Tesla unveiled a new chip.​

The ASX eked out small gains, but Australian tech’s role was minimal and there was frustration over lack of strong local market rallies.​

The RBA is set to hold rates steady after inflation data, with commentary on cycles and asset prices at record highs.​

Commodities: Bitcoin and metals fell, coal rose, and iron ore held at resistance.​

The host spotlighted AI-based Melbourne Cup picks and promoted the final stock…