Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
China’s ‘Lipstick King’ Says AI Won’t Replace Livestream Hosts 
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Wall Street futures edged higher on Thursday evening after a turbulent trading day marked by deep losses across major indexes. The rebound came as markets attempted to steady themselves following a sharp reversal in Nvidia’s stock, which had initially surged on strong quarterly earnings before sentiment soured. The tech giant’s slump amplified broader concerns about lofty valuations in the artificial intelligence sector, fueling fears of a growing AI bubble.
NVIDIA Corporation (NASDAQ: NVDA) slipped another 0.2% in after-hours trading, extending the 3.1% loss seen earlier in the session. Despite reporting solid top- and bottom-line results, investors reacted negatively to rising inventory levels and management commentary that failed to ease worries surrounding AI-driven demand. Investor Michael Burry, known for forecasting the 2008 financial crisis, added pressure by arguing that true demand for AI technology is far lower than current market valuations suggest. Nvidia’s dramatic swing wiped out nearly $400 billion in market value, underscoring the heightened volatility in the tech sector.
Losses were not limited to technology stocks. Strong September payrolls data strengthened expectations that the Federal Reserve may hold off on cutting interest rates in December, weighing down multiple sectors. A resilient labor market combined with persistent inflation has reduced odds of near-term monetary easing. Fed minutes released earlier this week signaled policymakers remain divided on a potential December cut. According to CME FedWatch, the probability of a 25-basis-point cut has slipped to 31%, down from nearly 46% a week ago. Morgan Stanley analysts also withdrew their forecast for a December cut following the robust employment report.
Despite the broader market downturn, Walmart Inc. (NYSE: WMT) provided a bright spot with a 6.5% rally after posting upbeat earnings. Elsewhere, President Donald Trump’s order to lower U.S. import tariffs on select Brazilian agricultural goods lent mild support by offering potential relief for food inflation.
By 19:40 ET, S&P 500 futures rose 0.3% to 6,576.0, Nasdaq 100 futures gained 0.2% to 24,186.25, and Dow futures added 0.3% to 45,970.0.
