Thursday

• The Federal Reserve cut rates by 25 basis points to 3.50%-3.75% on December 11 with three dissenting votes. Fed Chair Jerome Powell indicated a cautious stance with only one additional cut projected for 2026.
• Oracle missed revenue estimates and announced $15 billion in additional spending, weighing on global tech sentiment. European markets showed mixed performance with the STOXX 600 up marginally despite tech weakness.
• Silver surged to record highs above $62 per ounce, gaining over 116% year-to-date following its addition to the US critical minerals list.

Wednesday

• Eurozone industrial producer prices rose 0.1% month-over-month in October after two consecutive declines. European markets opened higher with the STOXX 600 gaining 0.4%, driven by technology and industrial stocks.
• Markets are pricing in an 85% probability for Federal Reserve rate cuts at next week’s meeting. The US dollar weakened for the ninth consecutive session as traders positioned for dovish Fed policy, with the euro rising 0.18% to $1.1642.
• Bitcoin climbed back above $93,000 as institutional investors including Vanguard opened access to crypto ETF trading for clients.

Tuesday

• Global equity markets are trading within narrow ranges as investors await the Federal Reserve’s critical policy decision scheduled for Wednesday. U.S. stock futures have edged slightly higher ahead of the Fed’s two-day meeting, which is widely expected to deliver a 25-basis-point rate cut with an 89% probability being priced in by markets.
• European markets have shown mixed performance with the STOXX 600 gaining modestly, supported by strength in financial and defense sectors after reports of German lawmakers approving record procurement contracts worth €52 billion. Asian markets closed predominantly lower, with Hong Kong’s Hang Seng dropping 1.3% and China’s Shanghai Composite falling 0.4%.
• The Australian dollar strengthened after the Reserve Bank of Australia maintained rates and signaled a more hawkish stance for 2026. Oil prices extended losses on oversupply concerns and expectations around stalled Ukraine peace negotiations.
• Nvidia received approval to ship advanced AI chips to China under new trade arrangements. Market participants are also closely monitoring delayed U.S. economic data, including the October JOLTS report.

Monday

• The Federal Reserve is widely expected to deliver a 25-basis-point rate cut on Wednesday, with markets pricing in an 87% probability. Analysts warn this could be one of the most divisive Fed meetings in recent history, with potential for the largest dissent since 1992.
• Chinese markets gained on better-than-expected export data, with exports rising 5.9% year-on-year in November. European stocks edged lower with the STOXX 600 declining marginally.
• IBM is reportedly in advanced talks to acquire Confluent for $11 billion. Several companies announced changes to their S&P 500 composition.