Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Fed Unveils Stablecoin Rules Under GENIUS Act 
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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.
