Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
BOJ Faces Pressure for Clarity, but Neutral Rate Estimates Likely to Stay Vague 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
RBI Cuts Repo Rate to 5.25% as Inflation Cools and Growth Outlook Strengthens 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Oil Prices Hold Steady as Ukraine Tensions and Fed Cut Expectations Support Market 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Europe Confronts Rising Competitive Pressure as China Accelerates Export-Led Growth 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Asian Currencies Edge Higher as Markets Look to Fed Rate Cut; Rupee Steadies Near Record Lows 
U.S. stocks closed lower Thursday, with the S&P 500 and Nasdaq dragged down by weakness in major tech names and caution from the Federal Reserve. At 4:00 p.m. ET, the Dow Jones Industrial Average slipped 110 points, or 0.2%, while the S&P 500 dropped 1% and the Nasdaq Composite declined 1.6%.
President Donald Trump described his meeting with Chinese President Xi Jinping as “amazing” and “outstanding,” hinting at progress in easing U.S.-China trade tensions. He said a trade deal could come “pretty soon,” and announced he will visit China in April. Trump confirmed that the U.S. will continue to sign annual supply agreements for rare earth minerals and that China agreed to resume agricultural imports, particularly soybeans. He also announced a cut in fentanyl-related tariffs to 10%, though overall U.S. tariffs on Chinese goods remain around 47%.
The Federal Reserve trimmed interest rates by 25 basis points to a range of 3.75%–4.00%, marking its second consecutive cut. However, Fed Chair Jerome Powell warned that another rate reduction in December was “far from” guaranteed, citing mixed signals in inflation and employment. Analysts at ING still expect at least two more rate cuts next year to bolster growth and weaken the dollar.
Tech stocks led declines, with Meta Platforms sliding after revealing plans to ramp up AI spending despite investor concerns over profitability. Microsoft also fell despite strong cloud and AI revenue growth, while Alphabet jumped as quarterly revenue and net profit surged 33% year-over-year to $35 billion.
In other earnings news, Restaurant Brands, Eli Lilly, and Estee Lauder posted stronger-than-expected results, while Biogen dropped after cutting its full-year profit outlook.
