Dollar Surges After Fed Holds Rates Steady, Signals Potential Tightening Ahead 
Asian Currencies Stabilize as Dollar Holds Near Two-Month High After Fed Hawkish Signal 
Canada, British Columbia Launch $5 Billion Infrastructure Partnership to Boost Housing, Transit, and Healthcare 
China’s AI Manufacturing Boom Masks Weak Consumer Economy, Citi Says 
Japan Signals Readiness to Intervene as USD/JPY Nears 161 Amid Yen Weakness 
Europe EV Demand Surges as Fuel Prices Rise Amid Iran Conflict 
German Auto Suppliers Turn Bearish as Investment and Jobs Shift Overseas 
Fed Chair Kevin Warsh Signals Policy Overhaul as Hawkish Rate Outlook Rattles Markets 
Japan Inflation Stays Below BOJ Target Despite Rate Hike and Rising Energy Cost Risks 
Trump Questions USMCA Renewal as Trade Talks Continue 
Dollar Hits One-Month High as Hawkish Fed Outlook Boosts Greenback 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Oil Prices Drop as U.S.-Iran Peace Deal Eases Supply Concerns 
Australia Eases Capital Gains Tax Reforms to Support Small Businesses and Startups 
US Stock Futures Jump on Reports of Preliminary US-Iran Peace Deal Despite Fed’s Hawkish Outlook 
German Industry Employment Falls to Lowest Level in a Decade 
Gold Prices Rebound on U.S.-Iran Peace Deal Optimism Despite Fed Rate Hike Signals 
U.S. stocks rallied sharply Monday, driven by renewed appetite for AI-related equities and growing confidence that the Federal Reserve could deliver a December interest rate cut. At the close, the Dow Jones Industrial Average jumped 1.5%, the S&P 500 rose 1.4%, and the tech-heavy NASDAQ surged 2.7%. Despite the strong session, major indexes remain on track for a weak November, with the S&P 500 down 3.5% month-to-date, the NASDAQ lower by 6.1%, and the Dow off 2.8%.
Tech stocks led the recovery as Alphabet shares soared more than 6%. Investor enthusiasm grew after the company’s Gemini AI model received a significant upgrade, intensifying competition with OpenAI. A leaked memo suggested OpenAI CEO Sam Altman acknowledged Google’s momentum could create “temporary economic headwinds.” Other AI leaders, including NVIDIA and Oracle, also posted solid gains, reinforcing optimism around the sector’s long-term growth.
Rate-cut expectations strengthened after recent comments from key Federal Reserve officials. New York Fed President John Williams signaled support for a December cut, a stance echoed by Fed Governor Christopher Waller, who noted that economic conditions have not shifted meaningfully since the last policy meeting. According to the CME FedWatch Tool, the probability of a 25-basis-point cut has climbed to nearly 69%, up from 44% just a week ago.
Investors now await a wave of delayed U.S. economic data, including producer inflation, retail sales, industrial production, and third-quarter GDP. Signs of slowing growth or a cooling labor market could bolster the case for more easing, though the Fed will meet in December without November’s full payroll data.
Geopolitical sentiment also improved after President Trump accepted an invitation to meet Chinese President Xi Jinping in April, raising hopes of progress in U.S.–China trade relations.
In corporate news, Agilent Technologies is set to report earnings after the close, while Novo Nordisk shares tumbled following weak Alzheimer’s trial results. Biogen stock climbed as analysts suggested Novo Nordisk’s setback could boost Biogen’s Alzheimer’s drug Leqembi.
