Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Oil Prices Edge Higher as U.S. Seizes Sanctioned Venezuelan Tanker 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Global Forex Markets Brace for Fed Decision as Yen Extends Weakness 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
U.S. stocks closed higher on Friday after inflation data aligned with expectations, though all three major indexes recorded weekly declines. The S&P 500 and Nasdaq ended their three-week winning streaks, while the Dow Jones Industrial Average also slipped slightly for the week.
The Commerce Department’s personal consumption expenditures (PCE) index, the Federal Reserve’s preferred inflation measure, showed prices rose 0.3% in August and 2.7% year-over-year, matching forecasts. Personal income and consumer spending both exceeded estimates, signaling resilience in the economy. Investors are weighing these strong economic signals against expectations for further interest rate cuts following the Fed’s recent decision to lower rates for the first time since December.
Market analysts noted that investor positioning ahead of quarter-end contributed to volatility. Bruce Zaro of Granite Wealth Management described the moves as “typical quarter-end window dressing,” with further market swings expected as earnings season begins in mid-October.
Corporate earnings also drove sharp stock moves. Paccar jumped 5.2% after President Donald Trump announced fresh tariffs, including on heavy-duty trucks, while Eli Lilly gained 1.4% despite tariffs on branded pharmaceuticals. Electronic Arts soared 14.9% on reports it may go private. Conversely, Costco shares slid 2.9% following earnings results.
For the day, the Dow rose 0.65% to 46,247.29, the S&P 500 added 0.59% to 6,643.70, and the Nasdaq climbed 0.44% to 22,484.07. However, weekly losses stood at 0.2% for the Dow, 0.3% for the S&P 500, and 0.7% for the Nasdaq.
Investors also absorbed comments from Fed officials. Richmond Fed President Thomas Barkin expressed doubts about inflation forecasts given tariff impacts, while Vice Chair Michelle Bowman stressed the need for proactive action to support a weakening labor market. The upcoming September jobs report and the looming threat of a government shutdown are expected to add further uncertainty to markets.
Meanwhile, market breadth was positive, with advancing stocks outnumbering decliners on both the NYSE and Nasdaq. Trading volume reached nearly 17 billion shares, slightly below the recent 20-day average.
