Oil Prices Rise as Ukraine Targets Russian Energy Infrastructure 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
U.S. Stocks Slip as Investors Await Fed Rate Decision and Monitor Market Shifts 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
Trump and Lula Discuss Trade, Sanctions, and Security in “Productive” Phone Call 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
Dollar Holds Steady as Markets Shift Focus to 2026 Rate Cut Expectations 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Dollar Slips as Weak U.S. Manufacturing Data Increases Pressure for Fed Rate Cuts 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
Wall Street ended the week on a strong note Friday, with major U.S. stock indexes climbing sharply as expectations for a Federal Reserve rate cut in December gained momentum. The rebound helped ease concerns about stretched tech valuations after a turbulent week for global markets.
A broad market rally picked up speed by late morning, lifting the Dow Jones Industrial Average by 493.30 points to 46,245.56. The S&P 500 advanced 0.98% to 6,602.96, while the Nasdaq Composite gained 0.88% to close at 22,273.08.
The surge followed fresh U.S. labor market data, which showed an unexpected uptick in unemployment—a signal that strengthened the market’s confidence in a potential Fed rate cut. According to CME’s FedWatch tool, traders now see a 73.3% chance of a December cut, up from 39.1% just a day earlier.
Comments from New York Fed President John Williams also boosted sentiment. Once viewed as leaning hawkish, his openness to near-term rate cuts shifted market perception toward a more dovish outlook. Analysts say this helped spark Friday’s strong rebound after Thursday’s broad selloff.
Tech stocks also provided support. Strong earnings from AI-driven leaders like Nvidia helped calm fears that the sector’s rapid gains were unsustainable. With nearly all S&P 500 companies having reported third-quarter results, about 83% have beaten earnings expectations, according to LSEG data.
Global markets were more mixed. European stocks fell for the week amid worries about high tech valuations and optimism around Russia-Ukraine peace efforts, which dragged defense shares lower. Asian markets also slipped, with Japan’s Nikkei dropping 2.40%.
In currencies, the dollar steadied but weakened against the yen as Japanese officials increased efforts to curb the yen’s slide. Meanwhile, cryptocurrencies tumbled, with bitcoin falling to multi-month lows.
U.S. Treasury yields dipped as rate-cut bets strengthened, and oil prices fell to a one-month low on developments in the Russia-Ukraine peace push. Gold also edged lower, with spot prices ending at $4,065.29 an ounce.
