S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
U.S. stocks closed at record highs for a third consecutive session on Monday, lifted by technology shares. Nvidia jumped 3.9% after announcing plans to invest up to $100 billion in OpenAI and supply the AI firm with data center chips, fueling further optimism about artificial intelligence growth. Apple shares climbed 4.3% after Wedbush raised its price target on strong demand signals for the iPhone 17, while Tesla gained 1.9%.
Technology stocks drove the S&P 500 sector gains, which ended 1.7% higher. The S&P 500 has now risen 13.8% year-to-date and 3.6% in September, traditionally a weak month for markets. The Dow Jones Industrial Average added 66.27 points, or 0.14%, to 46,381.54, while the Nasdaq Composite advanced 157.50 points, or 0.70%, to 22,788.98. The S&P 500 gained 29.39 points, or 0.44%, closing at 6,693.75.
Investor sentiment was mixed as Federal Reserve officials delivered varying views on rate cuts. St. Louis Fed President Alberto Musalem and Atlanta Fed President Raphael Bostic signaled caution, stressing inflation control over additional easing. Meanwhile, Fed Governor Stephen Miran, who dissented in favor of a larger rate cut last week, warned monetary policy remains restrictive.
Market watchers noted valuations are stretched, with some investors awaiting new catalysts for further gains. Meanwhile, President Donald Trump’s newly announced visa fee hikes drew criticism from tech executives, and Kenvue shares fell 7.5% on fears of a Tylenol-autism link before rebounding 4.7% after Trump’s FDA remarks.
Traders now look ahead to key economic data, including the U.S. personal consumption expenditures (PCE) price index, a closely followed inflation gauge. Market breadth remained positive, with advancing issues outnumbering decliners on both the NYSE and Nasdaq. Trading volume reached 18.65 billion shares, above the 20-day average.
