China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Asia’s IPO Market Set for Strong Growth as China and India Drive Investor Diversification 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Asian Markets Mixed as RBI Cuts Rates and BOJ Signals Possible Hike 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
European Oil & Gas Stocks Face 2026 With Cautious Outlook Amid Valuation Pressure 
U.S. stock markets closed mixed Tuesday as the Nasdaq and S&P 500 slipped due to a sharp sell-off in overbought large-cap tech stocks, while the Dow Jones ended higher on gains in cyclical sectors. The Nasdaq dropped 0.82% to 20,202.89 and the S&P 500 edged down 0.11% to 6,198.01. In contrast, the Dow surged 0.91%, rising 400.17 points to 44,494.94.
Weakness in tech stocks, particularly among megacaps tracked by the NYFANG index—which fell 1.8%—weighed on overall sentiment. Mizuho’s Farz Azarm noted that recent extreme bullishness in tech led to a “massive unwind” of gains.
Low liquidity contributed to volatility, but investor optimism was buoyed by President Trump’s statement that he would not extend the July 9 deadline for global trade negotiations. Meanwhile, the Senate’s approval of Trump’s sweeping tax package sparked debate over its stimulative impact versus its $3.3 trillion cost.
Tesla shares tumbled 5.4% following renewed tensions between CEO Elon Musk and Trump, who threatened to withdraw federal subsidies from Musk’s companies. Despite the tech downturn, the Dow was lifted by economically sensitive stocks, with the Dow Transportation index jumping 2.9%, its strongest single-day rise since May.
Economic data also showed resilience. May job openings rose unexpectedly, while the ISM manufacturing PMI ticked up to 49.0. These indicators, along with Powell’s cautious tone on rate cuts, reinforced expectations for the Fed to hold steady near-term.
Money markets now price in a 21.2% chance of a July rate cut, with 64 basis points projected for 2025. Meanwhile, Macau’s jump in gambling revenue boosted shares of U.S. casino operators, with Wynn, MGM, and Las Vegas Sands each climbing over 7%.
