China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Asian Markets Mixed as Fed Rate Cut Bets Grow and Japan’s Nikkei Leads Gains 
South Korea Posts Stronger-Than-Expected 1.3% Economic Growth in Q3 
Japan’s Finance Minister Signals Alignment With BOJ as Rate Hike Speculation Grows 
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 
Asian Currencies Steady as Rupee Hits Record Low Amid Fed Rate Cut Bets 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Tech Stocks Lift S&P 500 as Fed Rate-Cut Expectations Rise 
IMF Deputy Dan Katz Visits China as Key Economic Review Nears 
U.S. May Withhold $30.4 Million From Minnesota Over Improper Commercial Driver Licenses 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
Wall Street futures edged higher on Thursday evening after a turbulent trading day marked by deep losses across major indexes. The rebound came as markets attempted to steady themselves following a sharp reversal in Nvidia’s stock, which had initially surged on strong quarterly earnings before sentiment soured. The tech giant’s slump amplified broader concerns about lofty valuations in the artificial intelligence sector, fueling fears of a growing AI bubble.
NVIDIA Corporation (NASDAQ: NVDA) slipped another 0.2% in after-hours trading, extending the 3.1% loss seen earlier in the session. Despite reporting solid top- and bottom-line results, investors reacted negatively to rising inventory levels and management commentary that failed to ease worries surrounding AI-driven demand. Investor Michael Burry, known for forecasting the 2008 financial crisis, added pressure by arguing that true demand for AI technology is far lower than current market valuations suggest. Nvidia’s dramatic swing wiped out nearly $400 billion in market value, underscoring the heightened volatility in the tech sector.
Losses were not limited to technology stocks. Strong September payrolls data strengthened expectations that the Federal Reserve may hold off on cutting interest rates in December, weighing down multiple sectors. A resilient labor market combined with persistent inflation has reduced odds of near-term monetary easing. Fed minutes released earlier this week signaled policymakers remain divided on a potential December cut. According to CME FedWatch, the probability of a 25-basis-point cut has slipped to 31%, down from nearly 46% a week ago. Morgan Stanley analysts also withdrew their forecast for a December cut following the robust employment report.
Despite the broader market downturn, Walmart Inc. (NYSE: WMT) provided a bright spot with a 6.5% rally after posting upbeat earnings. Elsewhere, President Donald Trump’s order to lower U.S. import tariffs on select Brazilian agricultural goods lent mild support by offering potential relief for food inflation.
By 19:40 ET, S&P 500 futures rose 0.3% to 6,576.0, Nasdaq 100 futures gained 0.2% to 24,186.25, and Dow futures added 0.3% to 45,970.0.
