UK House Prices Fall for First Time Since 2023 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
OPEC+ Expected to Hold October Oil Output Steady 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Asian Stocks Mixed as Korean Chipmakers Rally 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Yen Rebounds as BOJ Rate Hike Bets Rise 
China to Inject $45 Billion Into State Financial Institutions 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Gold Prices Rise as Yen Rally Weakens Dollar 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
South Korea GDP Surges on Chip and AI Boom 
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U.S. stocks closed higher on Friday, recovering from a volatile start to the week as gains in technology and AI-related shares outweighed sharp declines in consumer stocks such as Nike. Major indexes finished in positive territory, supported by renewed optimism around artificial intelligence and expectations of future Federal Reserve interest rate cuts.
Technology megacaps extended Thursday’s rally after Micron Technology delivered upbeat forecasts that reassured investors about long-term AI demand. Micron shares surged 7% to a record closing high, while Nvidia climbed 3.9% following news that the U.S. government launched a review that could allow shipments of Nvidia’s second-most powerful AI chip to China. The development helped ease concerns around export restrictions and boosted sentiment across semiconductor stocks.
Oracle shares jumped 6.6% after ByteDance, TikTok’s Chinese parent, signed binding agreements to transfer control of TikTok’s U.S. operations to a group of investors that includes Oracle, strengthening the company’s position in cloud computing and enterprise technology. Market participants noted that AI-linked stocks had recently faced pressure due to valuation concerns, but Micron’s results encouraged investors to rotate back into the sector.
The Dow Jones Industrial Average rose 183 points, or 0.38%, while the S&P 500 gained 0.88% and the Nasdaq Composite advanced 1.31%. For the week, the S&P 500 and Nasdaq posted modest gains, though the Dow finished lower. Seven of the S&P 500’s sectors ended Friday higher, led by technology, while utilities and consumer staples lagged.
Consumer-focused stocks weighed on the market, with Nike plunging 10.5% after reporting another decline in gross margins driven by weak China sales and product restructuring efforts. Lamb Weston sank nearly 26% after warning of softer demand, and Conagra slipped following disappointing earnings.
Investors also reacted to data showing U.S. consumer prices rose less than expected in November, reinforcing bets on at least two interest rate cuts next year. However, analysts cautioned that volatility may increase after the holidays, especially following Friday’s “triple witching” options expiration.
