U.S. Stock Futures Rise Ahead of Holiday-Shortened Week as AI Optimism Lifts Tech 
Asian Stocks Rise as Wall Street Tech Rally Lifts Markets, Yen Slumps Despite BOJ Rate Hike 
Trump Defends Economic Record in North Carolina as Midterm Election Pressure Mounts 
Japan Signals Possible Yen Intervention as Currency Weakens Despite BOJ Rate Hike 
Yen Stabilizes Near Lows as Japan Signals Readiness to Intervene Amid Dollar Weakness 
Kevin Hassett Says Inflation Is Below Target, Backs Trump’s Call for Rate Cuts 
IMF Reaches Staff-Level Agreement With Egypt, Opening Path to $3.8 Billion in Funding 
Wall Street Ends Higher as S&P 500, Nasdaq Extend Gains Ahead of Holiday Week 
China Keeps Benchmark Lending Rates Steady as Economic Outlook Remains Cautious 
EU Delays Mercosur Free Trade Agreement Signing Amid Ukraine War Funding Talks 
Platinum Price Surges Past $2,000 as Demand and Supply Dynamics Tighten 
Gold Prices Surge to Record Highs as Geopolitical Tensions Fuel Safe-Haven Demand 
RBA Signals Possible Interest Rate Hike in 2026 as Inflation Pressures Persist 
South Korea Central Bank Warns of Rising Financial Stability Risks Amid Won Volatility 
UK Economy Grows 0.1% in Q3 2025 as Outlook Remains Fragile 
Global Demand for Yuan Loans and Bonds Surges as China Pushes Currency Internationalization 
Asian stocks pulled back from their two-and-a-half-year highs on Tuesday after Fed Chair Jerome Powell’s comments suggested a cautious approach to future interest rate cuts. MSCI's broadest index of Asia-Pacific shares, excluding Japan, fell 0.13% to 620.05, slightly below Monday’s high of 627.66. The index remains up 17% for the year.
Japan’s Nikkei rose 1.5% in early trading, recovering from a 4.8% drop on Monday. Investors are closely watching the policy impact of Shigeru Ishiba, who was speculated to become Japan’s next prime minister and perceived as hawkish on monetary policy. A weaker yen, which traded at 144.09 per dollar, supported Japanese stocks.
With China's financial markets closed for the rest of the week and Hong Kong’s Hang Seng also shut on Tuesday, the rally that boosted Asian markets last week has paused. Chinese equities have surged due to economic stimulus measures, with the CSI300 index climbing 25% since early last week.
“We're in for some choppy trade until U.S. data comes in,” said Matt Simpson, senior market analyst at City Index, referencing low trading volume due to China’s market closure.
Fed's Rate-Cut Approach Under Scrutiny
Investors are monitoring the pace of U.S. rate cuts after the Federal Reserve initiated its easing cycle with a 50 basis-point reduction last month. Powell indicated a likely shift to quarter-point cuts, saying, “This is not a committee that feels like it is in a hurry to cut rates quickly.”
Following Powell’s comments, the CME FedWatch tool showed traders adjusted their expectations, with a 38% probability of a 50 basis-point cut next month—down from 53% on Friday. Traders now anticipate a total of 70 basis points of easing for the year.
The dollar index strengthened slightly to 100.77, while the euro held steady at $1.11355.
Commodities Stable Amid Middle East Concerns
Oil prices remained steady on Tuesday. The potential for additional supply, combined with slow global demand growth, offset concerns over Middle East tensions possibly disrupting exports. Brent crude futures edged up 0.11% to $71.78 a barrel, and U.S. West Texas Intermediate crude futures gained 0.07% to $68.22 a barrel.
Spot gold rose 0.11% to $2,637.56 per ounce, nearing the record high of $2,685.42 reached last Thursday. The metal saw a 13% rise from July to September, marking its strongest quarterly performance in over four years.
