Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Wall Street index futures ticked up slightly on Wednesday evening, continuing the week’s positive sentiment as technology stocks staged a recovery and traders grew more confident that the Federal Reserve will move ahead with interest rate cuts in December. Despite the upbeat tone, overall trading volumes remained thin ahead of the Thanksgiving holiday, while anticipation of key U.S. economic data next week kept some investors cautious.
S&P 500 futures edged up to 6,830.50 by 19:23 ET (00:23 GMT), while Nasdaq 100 futures added 0.1% to 25,321.25 points. Dow Jones futures also rose 0.1% to 47,519.0. The modest gains followed Wall Street’s fourth straight day of advances, driven largely by improving sentiment toward megacap tech stocks.
Investors found renewed optimism as spending on artificial intelligence technology remained strong, even as concerns lingered over competitive pressures in the AI chip market. NVIDIA shares climbed 1.4% after hitting a two-month low, following reports that Alphabet’s Google is developing its own AI chips and is in discussions with Meta to supply its data centers. Alphabet reached a record high earlier in the week before slipping 1% on Wednesday, while Meta also saw a slight decline after recent strong gains. Broader tech names continued to rebound after being hit earlier this quarter by worries over inflated AI valuations and circular funding trends.
Rate-cut expectations also boosted market sentiment. According to the CME FedWatch Tool, traders are now pricing in an 82.2% probability of a 25-basis-point cut at the Fed’s December 9–10 meeting, up sharply from just 24% a week earlier. Softer-than-expected September retail sales and producer inflation data added to the dovish outlook.
Markets are also watching the potential successor to Fed Chair Jerome Powell. Reports indicate that White House National Economic Council Director Kevin Hassett—an ally of President Donald Trump—is the leading candidate. Hassett is widely expected to support more aggressive rate cuts, aligning with the administration’s calls for lower borrowing costs. Powell’s term ends in May 2026, but an announcement could come much sooner as Trump continues to criticize the current Fed leadership for resisting rapid rate reductions.
