US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
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 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Wall Street index futures held steady on Tuesday evening after strong gains during the main session, supported by growing expectations that the Federal Reserve will cut interest rates in December. However, caution crept back into markets as investors waited for Wednesday’s PCE inflation data, a key indicator that will influence the Fed’s policy direction.
S&P 500 Futures hovered around 6,781.50 points, while Nasdaq 100 Futures were stable at 25,079.75. Dow Jones Futures also held firm at 47,199. Despite the calm in futures, sentiment remained mixed as tech stocks faced volatility. Reports that Alphabet’s Google plans to develop its own artificial intelligence chips weighed heavily on established chipmakers, particularly Nvidia, raising concerns about increased competition in the AI semiconductor industry.
Alphabet shares climbed to a record high, and Meta advanced nearly 4% following reports the companies were discussing potential use of Google’s AI chips. In contrast, Nvidia slid 2.6% and continued to fall in after-hours trading. AMD also declined, extending a broader retreat in AI and semiconductor-related stocks that have faced valuation concerns throughout November.
During Tuesday’s session, major U.S. indexes closed higher as hopes for a December rate cut grew. The S&P 500 rose 0.9% to 6,765.88, the NASDAQ Composite gained 0.7% to 23,025.59, and the Dow jumped 1.4% to 47,112.14. Softer retail sales and in-line producer inflation data supported expectations of cooling price pressures, bolstering sentiment that the Fed has room to ease in its December 9–10 meeting. According to the CME FedWatch Tool, markets now assign an 80.2% probability of a 25-basis-point cut, up significantly from last week’s 43.4%.
All eyes now turn to September’s PCE price index report. While core PCE is expected to remain above the Fed’s 2% target, some officials signaled that protecting the labor market may outweigh short-term inflation concerns, even without October data ahead of the meeting.
