Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Asian Stocks Mixed as Korean Chipmakers Rally 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
UK House Prices Fall for First Time Since 2023 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
China Inflation Accelerates in August as CPI, PPI Rise 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Gold Prices Steady Ahead of U.S. Inflation Data and Fed Decision 
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The S&P 500 closed higher Tuesday as tech stocks rebounded, shifting investor focus to the Federal Reserve’s policy decision. The Dow Jones rose 136 points (0.3%), while the S&P 500 gained 0.9%, and the Nasdaq surged 2%.
AI chip leader Nvidia (NASDAQ:NVDA) led the recovery after suffering a record $593 billion loss in market value Monday. Concerns over Chinese AI startup Deepseek disrupting U.S. AI dominance were downplayed, with analysts suggesting that cheaper AI solutions could drive broader adoption. The rally comes as big tech giants, including Microsoft (NASDAQ:MSFT), Meta (NASDAQ:META), Apple (NASDAQ:AAPL), and Tesla (NASDAQ:TSLA), prepare to report earnings this week.
On the earnings front, General Motors (NYSE:GM) fell nearly 9% after posting a fourth-quarter loss due to China-related charges. JetBlue Airways (NASDAQ:JBLU) plunged 26% following weak revenue guidance, while Royal Caribbean (NYSE:RCL) soared 12% on strong Q4 earnings and a positive 2025 outlook. Boeing (NYSE:BA) gained 1.5% after CEO Kelly Ortberg outlined a turnaround strategy despite the company’s largest annual loss since 2020.
Investors now await the Federal Reserve’s decision, with expectations that borrowing costs will remain unchanged. The Fed previously lowered rates, bringing the benchmark rate to 4.25%-4.50%. Key economic data, including the PCE price index and Q4 GDP estimates, are also due this week.
Meanwhile, U.S. housing data showed single-family home prices rose 0.3% in November, slowing from October’s 0.5% gain, reflecting the impact of higher mortgage rates.
Markets remain focused on earnings and macroeconomic signals, with tech stocks driving optimism ahead of the Fed’s announcement.
