On October 29, the United States released the September JOLTs job vacancy report, with the number of job vacancies falling from 7.86 million (8.04 million before revision) to 7.44 million, lower than analysts' expectations of 7.99 million, showing market weakness.

At the same time, traders also paid attention to the October CB consumer confidence report, which rose from 99.2 in September (98.7 before revision) to 108.7 in October, exceeding analysts' consensus expectations of 99.5.

Specifically, the current situation index rose from 123.8 in September to 138.0 in October, while the expectations index increased from 82.8 to 89.1.

The Conference Board pointed out: "Consumer confidence recorded the largest single-month increase since March 2021, but still did not break out of the narrow range maintained in the past two years."

As the JOLTs job vacancy report fell short of expectations, the US dollar index fell, and the market generally believed that the job market may face pressure, which was bearish for the US dollar. Currently, the US dollar index is trying to stabilize below the 104.40 level.

Against this backdrop, gold prices tested all-time highs near $2,770 as traders remained bullish ahead of the US election.

The S&P 500 rose, breaking above the 5,830 level as investors bet that the Federal Reserve could take a more dovish stance due to potential weakness in the job market.