Asian Currencies Steady as Markets Await Fed Rate Decision; Indian Rupee Hits New Record Low 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
Oil Prices Rise as Geopolitical Tensions and Supply Risks Intensify 
Asian Markets Stabilize as Wall Street Rebounds and Rate Concerns Ease 
Trump Administration Plans Major Rollback of Biden-Era Fuel Economy Standards 
BOJ Governor Ueda Highlights Uncertainty Over Future Interest Rate Hikes 
Wall Street index futures ticked up slightly on Wednesday evening, continuing the week’s positive sentiment as technology stocks staged a recovery and traders grew more confident that the Federal Reserve will move ahead with interest rate cuts in December. Despite the upbeat tone, overall trading volumes remained thin ahead of the Thanksgiving holiday, while anticipation of key U.S. economic data next week kept some investors cautious.
S&P 500 futures edged up to 6,830.50 by 19:23 ET (00:23 GMT), while Nasdaq 100 futures added 0.1% to 25,321.25 points. Dow Jones futures also rose 0.1% to 47,519.0. The modest gains followed Wall Street’s fourth straight day of advances, driven largely by improving sentiment toward megacap tech stocks.
Investors found renewed optimism as spending on artificial intelligence technology remained strong, even as concerns lingered over competitive pressures in the AI chip market. NVIDIA shares climbed 1.4% after hitting a two-month low, following reports that Alphabet’s Google is developing its own AI chips and is in discussions with Meta to supply its data centers. Alphabet reached a record high earlier in the week before slipping 1% on Wednesday, while Meta also saw a slight decline after recent strong gains. Broader tech names continued to rebound after being hit earlier this quarter by worries over inflated AI valuations and circular funding trends.
Rate-cut expectations also boosted market sentiment. According to the CME FedWatch Tool, traders are now pricing in an 82.2% probability of a 25-basis-point cut at the Fed’s December 9–10 meeting, up sharply from just 24% a week earlier. Softer-than-expected September retail sales and producer inflation data added to the dovish outlook.
Markets are also watching the potential successor to Fed Chair Jerome Powell. Reports indicate that White House National Economic Council Director Kevin Hassett—an ally of President Donald Trump—is the leading candidate. Hassett is widely expected to support more aggressive rate cuts, aligning with the administration’s calls for lower borrowing costs. Powell’s term ends in May 2026, but an announcement could come much sooner as Trump continues to criticize the current Fed leadership for resisting rapid rate reductions.
