Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Bank of Japan Poised for Historic Rate Hike as Inflation Pressures Persist 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Korea Zinc to Build $7.4 Billion Critical Minerals Refinery in Tennessee With U.S. Government Backing 
Asian Stocks Slide as AI Valuation Fears and BOJ Uncertainty Weigh on Markets 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Australia’s business conditions for the month of May slumped to its weakest level since they briefly fell to almost zero in September 2014, although the confidence was up quite strongly during the period.
Business conditions fell to 0.6 in May. The sub-indices were mixed: profits, capacity use, and trading fell, while employment, exports, labour costs and purchases costs rose modestly. At 2, the employment index is consistent with modest jobs growth, while capacity use points to a sharply higher unemployment rate.
Conditions fell in New South Wales and Victoria to well below average levels, though the three-month moving averages are still around or close to average. Conditions also fell a touch in South Australia, though are still strong; and they remain above average in Tasmania – though well off recent highs. Conditions continued to deteriorate in Western Australia.
The change in conditions across industries was mixed. Mining fell, but remains elevated. Retail conditions deteriorated very sharply, to the weakest monthly level since March 2001. Transport was down by some margin, while the finance and recreational sectors fell a smaller amount. Manufacturing, construction and wholesale all rose somewhat.
