Friday

• U.S. stock futures steadied after signs of fatigue in an AI-driven rally led to two days of stock declines. Federal Reserve Chair Jerome Powell’s remarks about the central bank’s “challenging situation” have dampened investor sentiment and reduced expectations for aggressive monetary easing.
• The cryptocurrency market faced significant selling pressure with over $1.7 billion in leveraged positions liquidated.
• The Swiss National Bank kept rates unchanged at zero, marking its first pause after seven consecutive cuts.
• Oil prices retreated from seven-week peaks despite earlier supply concerns.

Thursday

• Federal Reserve Chair Jerome Powell’s cautious remarks about equity valuations being “fairly highly valued” triggered market weakness across global exchanges. Major U.S. indices retreated from recent record highs, with the Nasdaq falling nearly 1% amid skepticism over Nvidia’s $100 billion OpenAI investment.
• Gold reached its 37th record high of the year before retreating on profit-taking and dollar strength. China and Hong Kong markets advanced on AI enthusiasm after Alibaba announced major data center expansion plans.
• Bank of America data revealed clients rotated from large-cap to small-cap stocks following the Fed’s rate cut, with the largest large-cap outflows in over two years.

Wednesday

• The Federal Reserve implemented a 25 basis point rate cut last week, its first reduction in nine months, while raising growth and inflation forecasts. Fed officials showed divergent views on future policy, with markets pricing 90% probability of another quarter-point cut in October.
• Nvidia announced a $100 billion investment in OpenAI, reinforcing technology sector leadership. Gold surged to fresh all-time highs above $3,790 per ounce, marking its 36th record this year on rate cut expectations and safe-haven demand.
• ASM International issued guidance cuts, limiting broader semiconductor advances. Chinese markets declined modestly while South Korean equities advanced on semiconductor strength.

Tuesday

• The Federal Reserve implemented its first 25 basis point rate cut of 2025, driving the Dow and S&P 500 to record highs. Markets are pricing in two additional quarter-point cuts before year-end as traders await speeches from Fed officials including Chair Powell.
• Gold surged to record highs above $3,720 per ounce due to lower rates and geopolitical tensions. Cryptocurrencies faced over $1.7 billion in liquidations as Bitcoin dropped below $113,000.
• The Trump administration announced a $100,000 fee for new H-1B visa applications, causing the Sensex to fall 466 points. Indian IT stocks including TCS, Infosys, and Tech Mahindra declined sharply.

Monday

• US markets achieved new records following the Federal Reserve’s 25 basis point rate cut, with the S&P 500, Dow, and Nasdaq reaching all-time highs. Intel surged over 22% after Nvidia announced a $5 billion investment partnership.
• The Bank of Japan held rates steady but announced plans to sell ETF holdings, sparking rate increase speculation. The Bank of England maintained rates unchanged while slowing quantitative tightening, and the EU imposed new sanctions on Russian cryptocurrency usage.
• Initial jobless claims fell more than anticipated, supporting the Fed’s economic outlook.