Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Wall Street futures ticked up slightly on Monday evening, offering a modest rebound after major U.S. indexes slid earlier in the day on rising caution surrounding Nvidia’s upcoming earnings and a highly anticipated U.S. labor market update. The move came as Federal Reserve Governor Christopher Waller signaled support for additional rate cuts aimed at stabilizing employment, though most traders still expect the Fed to maintain current rates in December.
S&P 500 futures gained 0.2% to 6,702.75, while Nasdaq 100 futures rose 0.2% to 24,924. Dow Jones futures added 0.1% to reach 46,724.
Major tech stocks weighed heavily on the broader market as investors trimmed exposure ahead of Nvidia’s quarterly report due Wednesday. Nvidia shares fell nearly 1.9%, extending a multiday decline as traders locked in profits from the company’s massive AI-driven rally over the last several years. Questions about the sustainability of its rapid growth have increased recently, adding to investor unease.
Other AI-focused and tech-related stocks also declined amid growing skepticism about the long-term returns from substantial industry investments. Palantir dropped 1.6%, pushing its five-day losses to nearly 10%. Alphabet was a rare standout, climbing 3.1% after Berkshire Hathaway revealed a $4.3 billion stake, and as markets anticipated the potential release of Google’s Gemini 3.0 AI model.
Despite Alphabet’s strength, losses across technology and cyclical sectors pushed all major U.S. indexes lower. The S&P 500 slipped 0.9%, the Nasdaq Composite fell 0.8%, and the Dow Jones Industrial Average dropped 1.2%.
Looking ahead, investors are awaiting earnings from major retailers including Walmart, Target, and Home Depot. Additionally, attention is focused on Thursday’s release of delayed September nonfarm payrolls data. While Waller argued for rate cuts to protect the labor market, market expectations for a December cut have weakened. CME FedWatch now shows a 40.8% probability of a 25 basis-point cut, down sharply from last week, with nearly a 60% chance the Fed will hold rates steady.
