Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
Gold Prices Edge Higher as Markets Await Key U.S. PCE Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Japan’s Nikkei Drops as Markets Await Key U.S. Inflation Data 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Wall Street remains cautious as global headlines shake up markets. The fatal shooting of UnitedHealth’s CEO, Brian Thompson, a prominent leader in the U.S. health insurance industry, is one of the most shocking events of the day. Thompson was killed in New York City Wednesday in what police believe was a premeditated attack. The tragic incident has cast a shadow over the markets, particularly as investors digest the news and anticipate possible disruptions in the healthcare sector.
Thompson, who had been at UnitedHealth since 2004 and became the CEO of its insurance division in 2021, was in New York for an investors' meeting when the attack occurred. According to police, the killing was not random, and the motive appears to be targeted. Thompson's wife, Paulette, revealed that he had received threats related to his work, although the exact nature of those threats remains unclear.
As investors grapple with the news of Thompson’s death, Wall Street futures showed little movement on Thursday. U.S. stock futures were constrained within tight ranges as traders awaited more economic data, including jobless claims and the highly anticipated jobs report on Friday. Despite the tragic news, the broader markets have managed to remain resilient, driven by optimism regarding the strength of the U.S. economy and corporate earnings. Stocks had closed at new record highs the previous day, following Federal Reserve Chair Jerome Powell's comments on the economy's strength.
In other global developments, Bitcoin surged past the $100,000 mark, reaching a new high as traders reacted to President-elect Donald Trump’s recent nomination of Paul Atkins as the new head of the U.S. Securities and Exchange Commission. Atkins, who has shown support for cryptocurrencies, is expected to replace the current SEC Chair, Gary Gensler, in January. The move is seen as a positive signal for the cryptocurrency market, which has struggled with regulatory uncertainty in recent years.
Meanwhile, the oil market is seeing subtle shifts. Prices for U.S. crude oil ticked upward following reports of a significant draw in U.S. inventories. Oil traders are also keeping an eye on an upcoming OPEC+ meeting, where the group is expected to discuss extending production cuts to maintain price stability. Shell and Equinor also announced a joint venture to form the largest independent producer in the U.K. North Sea by 2025, adding further intrigue to energy market dynamics.
However, the most unsettling news comes from France, where Prime Minister Michel Barnier is expected to resign following a vote of no-confidence. The resignation comes after a bitter clash over a controversial budget aimed at addressing a growing deficit. The political fallout from Barnier’s departure is expected to create uncertainty in French markets and could destabilize the broader European Union. The timing is especially critical as the EU faces multiple challenges, including political turmoil in Germany and financial instability in several member states.
