U.S. Stock Futures Mixed as Tech and AI Stocks Face Pressure Ahead of CPI Data 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Asian Technology and Chipmaking Stocks Slide as AI Spending Concerns Shake Markets 
Global Markets Slide as Tech Stocks Sink, Yields Rise, and AI Concerns Deepen 
Japan Business Sentiment Hits Four-Year High, Boosting Expectations of BOJ Rate Hike 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
Dollar Struggles as Markets Eye Key Central Bank Decisions and Global Rate Outlooks 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Oil Prices Hold Steady Amid U.S. SPR Purchases and Demand Uncertainty
Brent crude futures saw a modest rise of $0.03 to $71.45 per barrel early Tuesday, while U.S. West Texas Intermediate (WTI) increased by $0.07 to $67.45 per barrel. This stability follows a steep 6% decline on Monday after Israel's weekend strikes against military targets in Iran, which spared Iranian oil infrastructure, calming fears of an extended conflict.
Middle East Tensions and U.S. Response
Middle Eastern tensions remain high, with Iran pledging to respond to Israel's recent attacks. The U.S. has warned Iran of “severe consequences” should it escalate aggression in the region, yet analysts see limited near-term risk to oil supply. ING Economics noted that while geopolitical concerns are significant, bearish market fundamentals may dominate through 2025.
U.S. Strategic Petroleum Reserve (SPR) Plan
The U.S. government announced plans to purchase up to 3 million barrels of crude for the SPR by May 2025, injecting some stability into the market. However, limited funding means further buys are dependent on future congressional approval. Meanwhile, China's sluggish demand growth and delayed peak winter heating season in the Northern Hemisphere could weigh on global oil prices.
U.S. Inventory Update
A preliminary Reuters poll indicated a likely rise in U.S. crude and gasoline inventories last week, with distillate stocks possibly down. Industry data from the American Petroleum Institute is expected Tuesday, while the U.S. Energy Information Administration will release its report on Wednesday.
