Australia’s December Trade Surplus Expands but Falls Short of Expectations 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Japanese Pharmaceutical Stocks Slide as TrumpRx.gov Launch Sparks Market Concerns 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Dow Hits 50,000 as U.S. Stocks Stage Strong Rebound Amid AI Volatility 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Fed Governor Lisa Cook Warns Inflation Risks Remain as Rates Stay Steady 
Vietnam’s Trade Surplus With US Jumps as Exports Surge and China Imports Hit Record 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
South Korea Assures U.S. on Trade Deal Commitments Amid Tariff Concerns 
Oil Prices Slide on US-Iran Talks, Dollar Strength and Profit-Taking Pressure 
U.S.-India Trade Framework Signals Major Shift in Tariffs, Energy, and Supply Chains 
Singapore Budget 2026 Set for Fiscal Prudence as Growth Remains Resilient 
The S&P 500 stumbled Wednesday, shedding 0.5%, as inflation concerns dampened hopes for rate cuts. The Dow lost 102 points, and the NASDAQ fell 0.9%, with subdued trading expected ahead of the Thanksgiving holiday.
Inflation Concerns Weigh on Pre-Thanksgiving Markets
Investing.com reports that US stocks fell slightly on Wednesday as cautious trading in the lead-up to Thanksgiving and rising inflation data weighed on the market.
The Dow Jones Industrial Average, the S&P 500 index, and the NASDAQ Composite all saw declines of 0.25% and 0.9%, respectively, at 1:03 p.m. ET (18:03 GMT).
Before Thursday's Thanksgiving holiday and Black Friday's early closing, trading volumes are expected to be low on Wednesday.
Despite expectations for a 2.3% annual increase in the PCE price index for October, the preferred inflation indicator of the Federal Reserve, the core PCE price index, increased 2.8% in October, well over the 2% annual objective.
S&P 500 Slips Amid Rate Cut Doubts
The markets have started to doubt the likelihood of a 25 basis point cut in December, and recent indications of persistent US inflation have cast doubt on the extent to which the Fed will reduce interest rates further.
The publication of robust economic data earlier Wednesday, indicating that the US economy was in a healthy enough state to handle interest rates at their current levels, only served to heighten these misgivings.
U.S. economic growth in the third quarter was an unadjusted 2.8% annualized rate, significantly higher than what Federal Reserve officials consider the non-inflationary growth rate of approximately 1.8%. First-time unemployment claims for the week fell to 213,000 from a revised lower 215,000 the week before. Claims have been steadily retreating from the near 1-1/2-year high seen in early October.
Tech Giants Face Thanksgiving Week Losses
On the business front, HP fell 12% after issuing disappointing guidance for 2025, and Dell Technologies fell more than 10% after providing a disappointing revenue outlook for the current quarter, despite the company's bullish comments about AI sales growth.
As a result of decreased client spending on its human resource management software, cloud-based business applications provider Workday reported poor subscription revenue guidance, causing a 5% decline in the stock price.
Morgan Stanley analysts stated on Wednesday that, due to improving market circumstances, Workday's values are still too favorable to ignore, even with the outlook drop.
