Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
The S&P 500 and Nasdaq closed at record highs Wednesday, driven by strong gains in Nvidia (NASDAQ: NVDA) and GE Vernova amid signs of a potential U.S.-EU trade agreement. The deal, expected to mirror President Trump’s prior accord with Japan, could introduce a broad 15% tariff on EU imports, including cars, according to diplomats.
The S&P 500 rose 0.78% to 6,358.91, while the Nasdaq added 0.61% to 21,020.02. The Dow Jones Industrial Average climbed 1.14% to 45,010.29, just shy of a record close. Year-to-date, the S&P 500 has advanced about 8% and the Nasdaq nearly 9%, buoyed by optimism over trade and robust corporate earnings.
GE Vernova surged 14.6% after boosting revenue and free cash flow forecasts, benefiting from soaring AI and cryptocurrency data center energy demand. Nvidia gained 2.25%, continuing its leadership in the AI chip market. Thermo Fisher (NYSE: TMO) also jumped 9% on strong earnings, while Texas Instruments (NASDAQ: TXN) plunged 13% after weak guidance signaled soft demand for analog chips, dragging peers like NXP Semiconductors (NASDAQ: NXPI) and Analog Devices (NASDAQ: ADI) lower.
Market volatility eased, with the CBOE Volatility Index hitting a five-month low. Investors now await U.S. jobless claims and PMI data for further economic signals. Fed rate cuts are viewed as unlikely next week, with September odds around 58%, per CME FedWatch.
Trading volume was heavy at 19.1 billion shares, above the 20-day average. Advancing stocks outnumbered decliners in the S&P 500 by more than 2-to-1, with 50 new highs recorded.
