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Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
U.S. stock futures rose slightly on Sunday evening, extending Wall Street’s upbeat momentum after a strong October driven by optimism around artificial intelligence, robust corporate earnings, and easing U.S.-China trade tensions.
As of 19:30 ET (00:30 GMT), S&P 500 futures climbed 0.3% to 6,896.50 points, Nasdaq 100 futures gained 0.4% to 26,107.0, and Dow Jones futures edged up 0.3% to 47,846.0.
The positive trend followed a strong close to October, where the S&P 500 advanced 2.3%, marking its sixth consecutive monthly gain. The Nasdaq Composite surged 4.7% during the month, while the Dow Jones Industrial Average added 2.5%. Market confidence was fueled by renewed enthusiasm for AI innovation and better-than-expected earnings from major tech firms.
Amazon.com (NASDAQ:AMZN) rallied nearly 10% after strong cloud division growth and an upbeat forecast. Microsoft (NASDAQ:MSFT), Alphabet (NASDAQ:GOOGL), and Meta Platforms (NASDAQ:META) also posted solid gains after reporting robust quarterly results, reinforcing investor faith in the technology sector’s resilience.
Adding to the optimism, the Federal Reserve cut its benchmark interest rate by 25 basis points to 3.75%–4.00%, its first reduction in months. Although Chair Jerome Powell cautioned that future cuts are uncertain, markets viewed the move as a positive sign of support for economic growth amid moderating inflation.
Investor sentiment was further lifted by signs of easing trade friction between Washington and Beijing. Presidents Donald Trump and Xi Jinping agreed to scale back certain tariffs and delay export restrictions, signaling progress in U.S.-China relations.
Looking ahead, traders are watching upcoming corporate earnings from major firms including Advanced Micro Devices (NASDAQ:AMD), Palantir Technologies (NASDAQ:PLTR), Qualcomm (NASDAQ:QCOM), Uber Technologies (NYSE:UBER), and McDonald’s Corporation (NYSE:MCD), which could provide key insights into tech and consumer sector performance.
