Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
U.S. Stocks Slip as Investors Await Fed Rate Decision and Monitor Market Shifts 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Dollar Slips as Weak U.S. Manufacturing Data Increases Pressure for Fed Rate Cuts 
U.S. Cyber Monday Online Sales Surge Past $9.1 Billion as Holiday Shopping Momentum Builds 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Oil Prices Rise as Geopolitical Tensions and Supply Risks Intensify 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
U.S. May Withhold $30.4 Million From Minnesota Over Improper Commercial Driver Licenses 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Asian markets struggled for direction on Wednesday as growing concerns over stretched artificial intelligence valuations weighed on sentiment ahead of Nvidia’s highly anticipated earnings report. The Nasdaq fell 1.2% overnight, marking a second straight day of losses and placing the index more than 6% below its late-October record, as investors reassessed lofty tech valuations.
U.S. stock futures were flat in early Asian trading, while Japan’s Nikkei managed a modest 0.4% rise and South Korea’s Kospi slipped 0.8%. Nvidia, a key driver of the global AI-fueled stock rally, will report results after the U.S. market close. Analysts expect a sharp 56% jump in fiscal Q3 revenue to $54.92 billion, according to LSEG data. With Nvidia’s share price widely viewed as “priced for perfection,” analysts say continued strong GPU demand will be critical to justify its premium.
Broader market caution is also driven by shifting expectations for U.S. monetary policy. Traders now price only a 42% chance of a Federal Reserve rate cut in December, down sharply from near certainty a month earlier. Concerns over fiscal policy—amplified by worries about President Donald Trump’s declining approval ratings and the potential for increased government spending—have kept U.S. Treasury yields elevated. The 10-year yield held steady at 4.11%.
Japan’s bond market also faced pressure as fears over expanding fiscal spending pushed long-end yields higher. Benchmark 10-year Japanese government bond yields hit a 17-year high of 1.765% ahead of a key 20-year auction.
In cryptocurrencies, bitcoin recovered slightly to $92,000 after briefly dipping below $90,000, though it remains down 27% from its October peak. Analysts attribute the drop to equity market weakness, fading rate-cut hopes, and leverage unwinding rather than the start of a prolonged downturn.
Meanwhile, currency markets remained steady, with the yen weakening to 155.45 per dollar—approaching levels that previously prompted intervention warnings. Gold hovered near $4,066 after recent declines, while Brent crude dipped to $64.51 a barrel.
