BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
U.S. stocks rallied sharply Monday, driven by renewed appetite for AI-related equities and growing confidence that the Federal Reserve could deliver a December interest rate cut. At the close, the Dow Jones Industrial Average jumped 1.5%, the S&P 500 rose 1.4%, and the tech-heavy NASDAQ surged 2.7%. Despite the strong session, major indexes remain on track for a weak November, with the S&P 500 down 3.5% month-to-date, the NASDAQ lower by 6.1%, and the Dow off 2.8%.
Tech stocks led the recovery as Alphabet shares soared more than 6%. Investor enthusiasm grew after the company’s Gemini AI model received a significant upgrade, intensifying competition with OpenAI. A leaked memo suggested OpenAI CEO Sam Altman acknowledged Google’s momentum could create “temporary economic headwinds.” Other AI leaders, including NVIDIA and Oracle, also posted solid gains, reinforcing optimism around the sector’s long-term growth.
Rate-cut expectations strengthened after recent comments from key Federal Reserve officials. New York Fed President John Williams signaled support for a December cut, a stance echoed by Fed Governor Christopher Waller, who noted that economic conditions have not shifted meaningfully since the last policy meeting. According to the CME FedWatch Tool, the probability of a 25-basis-point cut has climbed to nearly 69%, up from 44% just a week ago.
Investors now await a wave of delayed U.S. economic data, including producer inflation, retail sales, industrial production, and third-quarter GDP. Signs of slowing growth or a cooling labor market could bolster the case for more easing, though the Fed will meet in December without November’s full payroll data.
Geopolitical sentiment also improved after President Trump accepted an invitation to meet Chinese President Xi Jinping in April, raising hopes of progress in U.S.–China trade relations.
In corporate news, Agilent Technologies is set to report earnings after the close, while Novo Nordisk shares tumbled following weak Alzheimer’s trial results. Biogen stock climbed as analysts suggested Novo Nordisk’s setback could boost Biogen’s Alzheimer’s drug Leqembi.
