Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Asian Stocks Slide as Central Bank Decisions and Key Data Keep Investors Cautious 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
The S&P 500 and Nasdaq closed at record highs on Monday as enthusiasm for artificial intelligence (AI) stocks offset concerns over the ongoing U.S. government shutdown. The rally was led by chipmakers after AMD announced a major deal with OpenAI to supply AI chips, a move projected to generate tens of billions in annual revenue and potentially grant OpenAI up to a 10% stake in AMD. Shares of AMD soared 23.7%, lifting the broader Philadelphia Semiconductor Index by 2.9%.
Market optimism persisted despite the shutdown entering its sixth day, delaying key economic data releases. Investors instead turned to secondary indicators such as consumer credit and mortgage demand to gauge the economy’s health. According to Robert Pavlik, senior portfolio manager at Dakota Wealth, “The market remains captivated by the AI trend, particularly in technology and consumer discretionary sectors.” He cautioned, however, that “waves don’t go on forever; it’s hard to know when this one will crest.”
Federal Reserve officials maintained a cautious tone on rate cuts, even as markets priced in a 94.6% probability of a 25 basis point reduction at the October meeting. The Dow Jones Industrial Average slipped 0.14% to 46,694.97, while the S&P 500 gained 0.36% to 6,740.28, and the Nasdaq climbed 0.71% to 22,941.67. Consumer discretionary stocks led S&P gains, while real estate lagged.
Corporate movers added to market excitement. Tesla jumped 5.5% after teasing an upcoming event on X, while Comerica surged 13.7% after being acquired by Fifth Third in an $10.9 billion all-stock deal. In contrast, Starbucks fell 5% following a price target cut, and Verizon dropped 5.1% after naming former PayPal CEO Dan Schulman as its new leader. Bitcoin also broke the $125,000 mark, boosting crypto-linked firms like Coinbase and Riot Platforms.
With earnings season approaching, analysts expect S&P 500 companies to post 8.8% year-on-year profit growth for Q3, further fueling optimism across Wall Street.
