Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
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.
