Australia’s Labour Market Weakens as November Employment Drops Sharply 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
The S&P 500 closed higher Tuesday, driven by a surge in Tesla (NASDAQ:TSLA) shares and renewed optimism over U.S.-China trade talks. Investors are betting that positive outcomes from negotiations will ease tensions and potentially roll back sweeping tariffs imposed earlier this year.
Tesla jumped 5.6%, leading gains among major tech stocks, while Alphabet (NASDAQ:GOOGL) rose 1.4% after reports that OpenAI plans to use Google Cloud to expand its computing capacity. Meanwhile, Microsoft (NASDAQ:MSFT) dipped 0.4%.
Commerce Secretary Howard Lutnick said talks with China were progressing and could wrap up by Wednesday. Hopes that “Liberation Day” tariff levels will be avoided have helped the S&P 500 rebound from its April slump, now trading just below February’s record highs. Horizon Investments’ CIO Scott Ladner noted, “You can’t get to these market valuations with those tariffs becoming reality.”
The S&P 500 rose 0.55% to 6,038.81, the Nasdaq climbed 0.63% to 19,714.99, and the Dow Jones gained 0.25% to 42,866.87. Ten of 11 S&P 500 sectors advanced, led by energy (+1.77%) and consumer discretionary (+1.19%). Trading volume reached 18.5 billion shares, above the recent average.
Investors now await Wednesday’s U.S. consumer price index for clues on the Federal Reserve’s next interest rate move. Meanwhile, the World Bank cut its 2025 global growth forecast to 2.3%, citing trade tensions and uncertainty.
In corporate news, Insmed (NASDAQ:INSM) soared nearly 29% on positive clinical trial results. J.M. Smucker tumbled 15.6% after issuing weak earnings guidance. Snap (NYSE:SNAP) slipped 0.1% after unveiling plans for consumer smart glasses to rival Meta (NASDAQ:META).
Overall, advancing stocks outpaced decliners 2-to-1 on the S&P 500, with the index posting 12 new highs and two new lows.
