Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Wall Street futures edged higher on Thursday evening after a turbulent trading day marked by deep losses across major indexes. The rebound came as markets attempted to steady themselves following a sharp reversal in Nvidia’s stock, which had initially surged on strong quarterly earnings before sentiment soured. The tech giant’s slump amplified broader concerns about lofty valuations in the artificial intelligence sector, fueling fears of a growing AI bubble.
NVIDIA Corporation (NASDAQ: NVDA) slipped another 0.2% in after-hours trading, extending the 3.1% loss seen earlier in the session. Despite reporting solid top- and bottom-line results, investors reacted negatively to rising inventory levels and management commentary that failed to ease worries surrounding AI-driven demand. Investor Michael Burry, known for forecasting the 2008 financial crisis, added pressure by arguing that true demand for AI technology is far lower than current market valuations suggest. Nvidia’s dramatic swing wiped out nearly $400 billion in market value, underscoring the heightened volatility in the tech sector.
Losses were not limited to technology stocks. Strong September payrolls data strengthened expectations that the Federal Reserve may hold off on cutting interest rates in December, weighing down multiple sectors. A resilient labor market combined with persistent inflation has reduced odds of near-term monetary easing. Fed minutes released earlier this week signaled policymakers remain divided on a potential December cut. According to CME FedWatch, the probability of a 25-basis-point cut has slipped to 31%, down from nearly 46% a week ago. Morgan Stanley analysts also withdrew their forecast for a December cut following the robust employment report.
Despite the broader market downturn, Walmart Inc. (NYSE: WMT) provided a bright spot with a 6.5% rally after posting upbeat earnings. Elsewhere, President Donald Trump’s order to lower U.S. import tariffs on select Brazilian agricultural goods lent mild support by offering potential relief for food inflation.
By 19:40 ET, S&P 500 futures rose 0.3% to 6,576.0, Nasdaq 100 futures gained 0.2% to 24,186.25, and Dow futures added 0.3% to 45,970.0.
