Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
BOJ Expected to Deliver December Rate Hike as Economists See Borrowing Costs Rising Through 2025 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Gold Prices Hold Firm as Markets Await Fed Rate Cut; Silver Surges to Record High 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
U.S. stock index futures steadied Wednesday evening as Wall Street closed higher for the fourth consecutive session, with investors betting that the ongoing government shutdown will have limited economic fallout. Despite weak labor market signals and subdued manufacturing data, markets gained on optimism that the Federal Reserve will deliver another interest rate cut at the end of October.
S&P 500 Futures held flat at 6,759.50 points, while Nasdaq 100 Futures stabilized at 25,018.75 points. Dow Jones Futures also remained steady at 46,712.0 points by 19:16 ET (23:16 GMT). The S&P 500 itself ended at a record high of 6,711.20 points, while the Nasdaq Composite climbed 0.4% to 22,755.16 and the Dow Jones Industrial Average edged up 0.1% to 46,411.10.
The U.S. government officially entered a shutdown after lawmakers failed to approve new funding. The closure is set to disrupt critical services, including air traffic control and disaster relief. Key economic data, such as the nonfarm payrolls report due Friday, is also expected to be delayed. The deadlock stemmed from disputes over healthcare subsidies, with Democrats rejecting a Republican-backed bill. President Donald Trump further escalated tensions by threatening to withhold funding from Democrat-leaning states and cut federal jobs permanently.
Markets, however, looked past political uncertainty. Healthcare stocks led gains, supported by expectations of favorable regulation, while technology shares extended their rally on ongoing enthusiasm around artificial intelligence. Netflix lagged, sliding 2.3% after Tesla CEO Elon Musk urged his social media followers to cancel subscriptions.
Historically, government shutdowns have had minimal long-term effects on markets. The last one, in late 2018 and early 2019, lasted 35 days and cost the economy about $11 billion, according to the Congressional Budget Office.
This time, weak ADP payroll data for September and PMI figures confirming continued contraction in manufacturing signaled labor market softness. Yet, these indicators strengthened expectations of further Fed rate cuts, providing key support for equities amid ongoing uncertainty.
