Trump, Xi Focus on Trade and AI at White House Summit 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Trump to Ease U.S. Fuel-Economy Standards 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
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Wall Street ended the week on a strong note Friday, with major U.S. stock indexes climbing sharply as expectations for a Federal Reserve rate cut in December gained momentum. The rebound helped ease concerns about stretched tech valuations after a turbulent week for global markets.
A broad market rally picked up speed by late morning, lifting the Dow Jones Industrial Average by 493.30 points to 46,245.56. The S&P 500 advanced 0.98% to 6,602.96, while the Nasdaq Composite gained 0.88% to close at 22,273.08.
The surge followed fresh U.S. labor market data, which showed an unexpected uptick in unemployment—a signal that strengthened the market’s confidence in a potential Fed rate cut. According to CME’s FedWatch tool, traders now see a 73.3% chance of a December cut, up from 39.1% just a day earlier.
Comments from New York Fed President John Williams also boosted sentiment. Once viewed as leaning hawkish, his openness to near-term rate cuts shifted market perception toward a more dovish outlook. Analysts say this helped spark Friday’s strong rebound after Thursday’s broad selloff.
Tech stocks also provided support. Strong earnings from AI-driven leaders like Nvidia helped calm fears that the sector’s rapid gains were unsustainable. With nearly all S&P 500 companies having reported third-quarter results, about 83% have beaten earnings expectations, according to LSEG data.
Global markets were more mixed. European stocks fell for the week amid worries about high tech valuations and optimism around Russia-Ukraine peace efforts, which dragged defense shares lower. Asian markets also slipped, with Japan’s Nikkei dropping 2.40%.
In currencies, the dollar steadied but weakened against the yen as Japanese officials increased efforts to curb the yen’s slide. Meanwhile, cryptocurrencies tumbled, with bitcoin falling to multi-month lows.
U.S. Treasury yields dipped as rate-cut bets strengthened, and oil prices fell to a one-month low on developments in the Russia-Ukraine peace push. Gold also edged lower, with spot prices ending at $4,065.29 an ounce.
