ECB May Stop Rate Hikes After December, Capital Economics Says 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
U.S. Treasury Yields Surge as 30-Year Hits 22-Year High 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
China Consumer Stocks Near Decade Lows as AI Shares Surge 
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Wall Street Hits Record Highs Amid Trump’s Victory and Anticipated Fed Rate Cut
U.S. stock index futures steadied Wednesday night as Wall Street reached new highs, celebrating Donald Trump's victory in the 2024 presidential election. With the election results sparking optimism, investors now await the Federal Reserve’s upcoming interest rate decision.
Trump's Victory Boosts Wall Street
Wall Street indexes surged after major networks projected Trump’s win over Kamala Harris. The Republican majority in both the Senate and House strengthens Trump’s path to enacting major policy changes, including potential corporate tax cuts. This “red sweep” energized investors, pushing the S&P 500 up 2.5% to a record 5,929.04 points, the Nasdaq Composite 2.9% to 18,978.65 points, and the Dow Jones 3.6% to 43,729.93 points—its best day since 2022.
Key Market Drivers
Investor sentiment was further lifted by stronger-than-expected PMI data and positive earnings from semiconductor giants like Qualcomm and GlobalFoundries. Qualcomm shares jumped nearly 7% in after-hours trading, while GlobalFoundries gained on reports of potential government support through the CHIPS Act.
Fed Rate Decision Looms
Attention now shifts to the Federal Reserve's Thursday meeting, where a 25-basis-point rate cut is widely expected. However, the central bank’s outlook on future rate policy remains unclear, especially as Trump’s protectionist economic stance may fuel inflation. The Fed’s stance on long-term interest rates will be crucial in shaping investor expectations.
