Gold and Silver Prices Dip as Markets Await Key U.S. Economic Data 
Oil Prices Rebound as Trump Orders Blockade of Sanctioned Venezuelan Tankers 
RBA Unlikely to Cut Interest Rates in 2026 as Inflation Pressures Persist, Says Westpac 
Asian Fund Managers Turn More Optimistic on Growth but Curb Equity Return Expectations: BofA Survey 
U.S. Dollar Steadies Near October Lows as Rate Cut Expectations Keep Markets on Edge 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Asian Stocks Edge Higher as Tech Recovers, U.S. Economic Uncertainty Caps Gains 
Bank of Korea Downplays Liquidity’s Role in Weak Won and Housing Price Surge 
Singapore Growth Outlook Brightens for 2025 as Economists Flag AI and Geopolitical Risks 
Australian Consumer Sentiment Slumps in Early December as Inflation Fears Resurface 
Trump Orders Blockade of Sanctioned Oil Tankers, Raising Venezuela Tensions and Oil Prices 
Chinese Robotaxi Stocks Rally as Tesla Boosts Autonomous Driving Optimism 
Japan PMI Data Signals Manufacturing Stabilization as Services Continue to Drive Growth 
South Korea Warns Weak Won Could Push Inflation Higher in 2025 
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 
Silver Prices Hit Record High as Safe-Haven Demand Surges Amid U.S. Economic Uncertainty 
U.S. copper prices surged to a record high on Tuesday after President Donald Trump announced a 50% tariff on imported copper, intensifying global trade tensions. Trump also warned of upcoming tariffs on semiconductors and pharmaceuticals. U.S. Comex copper futures spiked over 12%, highlighting the metal’s strategic importance in electric vehicles, military hardware, and infrastructure. Copper miner Freeport-McMoRan (NYSE:FCX) rose 2.5% in response.
In letters to 14 countries, including Japan and South Korea, Trump confirmed sweeping tariffs would take effect August 1. While he noted progress with the EU and China, he hinted that a new tariff letter to the EU was imminent. Stocks, which sold off on Monday, were relatively stable Tuesday, as investors awaited second-quarter earnings reports. Analysts from BofA and Goldman Sachs raised their S&P 500 year-end targets, citing solid corporate earnings.
The Dow Jones slipped 0.37% to 44,240.76, the S&P 500 dipped 0.07% to 6,225.52, and the Nasdaq inched up 0.03% to 20,418.46. The MSCI world index fell slightly, while Europe’s STOXX 600 gained 0.41%.
The Federal Reserve’s meeting minutes, due Wednesday, may offer insight on potential rate cuts. U.S. Treasury yields rose, with the 10-year yield climbing to 4.417%. However, demand was weak for a $58 billion three-year note auction. Additional bond sales are scheduled for later this week.
Currency markets saw the yen slide against the dollar and euro, while the Australian dollar gained after the RBA held interest rates steady. Oil prices edged up, with U.S. crude at $68.33 and Brent at $70.15. Spot gold fell 1.05% to $3,300.32 per ounce.
