Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Trump, Xi Focus on Trade and AI at White House Summit 
Dollar Holds Near Two-Month High as Yen Approaches 160 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
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Wall Street futures steadied on Tuesday evening as investors grew increasingly cautious ahead of Nvidia’s highly anticipated earnings report and a key U.S. labor market update. After a session marked by broad declines, especially across major technology names, traders appeared hesitant to make big moves amid concerns about stretched valuations and shifting expectations for Federal Reserve policy.
Tech stocks remained under pressure as skepticism over the sustainability of artificial intelligence-driven valuations continued to rise. Nvidia, a central force behind the AI boom, slipped 2.8% as markets await its earnings due Wednesday after the bell. While analysts expect another strong quarter from the chipmaker, investors are watching closely to see whether the company can justify its near-$5 trillion valuation and deliver encouraging guidance on AI demand. Growing concerns of a potential AI valuation bubble have weighed heavily on the broader tech sector in recent weeks.
Other tech giants also retreated. AMD dropped 4.3%, TSMC fell 1.5%, and Amazon slid 4.4%. Microsoft and Palantir declined between 2% and 3%, deepening the sector’s pullback. Retail stocks were also under pressure after Home Depot posted weaker-than-expected results, sending its shares down 6%. Lowe’s slipped 2.3%, Walmart fell 1.5% ahead of its own earnings, and Target closed flat.
During the main session, the S&P 500 fell 0.8%, the Nasdaq dropped 1.2%, and the Dow slid 1.1%. Futures showed modest stabilization afterward, with S&P 500 futures edging up less than 0.1%, Nasdaq 100 futures remaining flat, and Dow Jones futures rising 0.1%.
Meanwhile, bets on a Federal Reserve rate cut in December continued to fade. According to CME FedWatch, the probability of a 25 basis-point cut dropped to 43.4%, down sharply from 61.9% last week. With several economic reports delayed due to a prolonged government shutdown, the Fed could enter its December meeting with limited data, increasing the likelihood of maintaining current rates. Investors now turn their attention to Thursday’s September nonfarm payrolls report for insight into labor market conditions and inflation pressures.
