Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Wall Street Hits Record Highs Amid Trump’s Victory and Anticipated Fed Rate Cut
U.S. stock index futures steadied Wednesday night as Wall Street reached new highs, celebrating Donald Trump's victory in the 2024 presidential election. With the election results sparking optimism, investors now await the Federal Reserve’s upcoming interest rate decision.
Trump's Victory Boosts Wall Street
Wall Street indexes surged after major networks projected Trump’s win over Kamala Harris. The Republican majority in both the Senate and House strengthens Trump’s path to enacting major policy changes, including potential corporate tax cuts. This “red sweep” energized investors, pushing the S&P 500 up 2.5% to a record 5,929.04 points, the Nasdaq Composite 2.9% to 18,978.65 points, and the Dow Jones 3.6% to 43,729.93 points—its best day since 2022.
Key Market Drivers
Investor sentiment was further lifted by stronger-than-expected PMI data and positive earnings from semiconductor giants like Qualcomm and GlobalFoundries. Qualcomm shares jumped nearly 7% in after-hours trading, while GlobalFoundries gained on reports of potential government support through the CHIPS Act.
Fed Rate Decision Looms
Attention now shifts to the Federal Reserve's Thursday meeting, where a 25-basis-point rate cut is widely expected. However, the central bank’s outlook on future rate policy remains unclear, especially as Trump’s protectionist economic stance may fuel inflation. The Fed’s stance on long-term interest rates will be crucial in shaping investor expectations.
