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Equities struggled on Wednesday as data showed US businesses unexpectedly shed jobs last month.The US private sector lost 32,000 jobs in November, according to payroll firm ADP, compared to a small gain expected by analysts.The jobs numbers reinforced concerns over the health of the US economy, which has struggled with dislocations and price rises caused by tariffs introduced by President Donald Trump’s administration.”There’s no way to portray that as good news, unless, of course, you’re a stock trader who is focused more on the likelihood for Fed cuts than you are about what it says about the economy,” said Steve Sosnick of Interactive Brokers.After opening lower, all three of Wall Street’s main indices had pushed into positive territory by mid-morning, with the jobs figures underpinning expectations that the US Federal Reserve will cut interest rates next week.The tech-heavy Nasdaq Composite slid back into the red.”The modest fall in the ADP payrolls measure in November… should be enough to persuade the FOMC to vote for another cut next week,” said Stephen Brown at Capital Economics.Money markets now put the chances of the Fed cutting interest rates on December 10 at nearly 90 percent.Lower interest rates make it easier for companies and consumers to borrow money, so the prospect of Fed rate cuts tends to boost stocks.Optimism over US rate cuts won an additional boost from reports that Trump’s top economic adviser Kevin Hassett — a proponent of more rate reductions — is the frontrunner to take the helm at the Fed when Jerome Powell’s tenure ends in May.Investors are also looking ahead to the release on Friday of the Fed’s preferred gauge of inflation — the personal consumption expenditure (PCE) index.Investors see the Fed cutting rates three times next year, which has been a factor weighing on the dollar.The euro hit a seven-week high against the dollar, noted analyst Axel Rudolph at trading platform IG. “The US central bank is expected to cut rates in December with a near 89 percent probability whereas the ECB isn’t likely to do so for much of next year,” he said.Meanwhile the pound gained one percent against the dollar, also receiving a boost from data showing stronger than expected activity from the UK services sector.Stronger sterling weighed on London’s benchmark FTSE 100 stock index, which features major companies earning in dollars, and which ended the day down 0.1 percent.A recovery in Bitcoin has also helped support equity markets.”A continued bounce in bitcoin and other cryptocurrencies has stoked a renewed speculative bid,” said Briefing.com analyst Patrick O’Hare.Bitcoin is back above $90,000. It plunged below $83,000 last month after having set a record high of $126,251 in October.Asian stock markets mostly rose Wednesday.Elsewhere, the Indian rupee weakened past 90 per dollar for the first time, extending declines through the year as New Delhi struggles to strike a trade deal with the United States.- Key figures at around 1630 GMT -New York – Dow: UP 0.4 percent at 47,685.20 pointsNew York – S&P 500: UP 0.1 percent at 6,837.46New York – Nasdaq Composite: DOWN less than 0.1 percent at 23,402.90London – FTSE 100: DOWN 0.1 percent at 9,692.07 (close) Paris – CAC 40: UP 0.2 percent at 8,087.42 (close)Frankfurt – DAX: DOWN less than 0.1 percent at 23,693.71 (close)Tokyo – Nikkei 225: UP 1.1 percent at 49,864.68 (close) Hong Kong – Hang Seng Index: DOWN 1.3 percent at 25,760.73 (close)Shanghai – Composite: DOWN 0.5 percent at 3,878.00 (close)Euro/dollar: UP at $1.1664 from $1.1622 on TuesdayPound/dollar: UP at $1.3341 from $1.3209Dollar/yen: DOWN at 155.03 yen from 155.86 yenEuro/pound: DOWN at 87.43 pence from 88.00 penceBrent North Sea Crude: UP 1.2 percent at $63.19 per barrelWest Texas Intermediate: UP 1.4 percent at $59.47 per barrelburs-rl/rlp

The EU on Wednesday presented a multi-billion-euro plan to help curb the 27-nation bloc’s dependence on China for rare earths, as Beijing’s stranglehold on the critical materials threatens key industries.China, the world’s top producer of rare earths, in October announced new controls on exports of the elements used to make magnets crucial to the auto, electronics and defence industries.The move rattled markets and snarled supply chains until China later said it would suspend the curbs for one year.Already since April, Beijing had required licences for certain exports of the materials, hitting global manufacturing sectors.”Europe is responding to the new global geopolitical reality,” EU industry chief Stephane Sejourne said of the plans aimed at countering what he has likened to a raw earths “racket” run by Beijing.The European Commission said it would unlock nearly three billion euros ($3.5 billion) to support strategic projects in mining, refining and recycling of the vital minerals and metals — both within Europe and in partner countries.The EU’s executive also proposed the creation of a European Centre for Critical Raw Materials that will be the bloc’s supply hub, modelled on Japan’s state-run Japan Oil, Gas and Metals National Corporation. Sejourne said the centre would have three main tasks: “Monitoring and assessing needs, coordinating joint purchases on behalf of member states, and managing stockpiles and deliveries to companies as required.”Brussels also wants to curb exports of scrap and waste from permanent magnets — made from rare earths and widely used in industry — as of next year, to boost recycling within Europe. The EU also plans targeted restrictions on aluminium waste exports and may do the same for copper.- Europe squeezed -Two years ago, the EU adopted a law aimed at securing supplies of critical raw materials.But the bloc finds itself squeezed between China’s restrictions and the United States under Donald Trump, which is negotiating bilateral agreements on all fronts to secure its own supplies.A study published Monday by the EU Chamber of Commerce in China said 60 percent of its members expected disruptions to their supply chains because of government-imposed restrictions, and 13 percent fear they may have to interrupt or slow down their production.The European Commission also Wednesday updated its strategy for ensuring the EU’s “economic security”.”Around the world, trade is being weaponized. Supply chains are under pressure,” the EU’s trade chief Maros Sefcovic told reporters in presenting the plan.”Strategic choke points are turning economic dependency into political pressure, and this hits our companies every single day,” he said.The first such strategy was produced in 2023 as the bloc grappled with the harsh lessons from the Covid pandemic and Ukraine war that showed up the fragility of its supply lines. But new diplomatic and geopolitical tensions, most strikingly a US administration willing to act aggressively on trade against its close allies, have prompted Brussels to revisit the rulebook.The updated doctrine calls for easing the use of key tools already at the EU’s disposal — such as controls on foreign investment, export restrictions and diversifying suppliers — and adding new ones if needed.”Europe will continue to champion open trade and global investment, but our openness must be backed by security,” Sefcovic said.”This is why you will see more strategic and assertive use of our existing tools, the development of the new ones where needed, and stronger capacity to collect and share economic intelligence.” 

Wall Street’s main stock indices dipped on Wednesday after data showed US businesses unexpectedly shed jobs last month.The US private sector shed 32,000 jobs in November, according to payroll firm ADP, compared to a small gain expected by analysts.The jobs numbers reinforced concerns over the health of the US economy, which has struggled with dislocations and price rises caused by tariffs introduced by President Donald Trump’s administration.The Dow dipped by less than a tenth of a percentage point at the opening bell, while the S&P 500 shed 0.2 percent and the tech-heavy Nasdaq dropped 0.5 percent.Tech stocks were weaker, with shares in the so-called Magnificent Seven largest tech firms down 0.3 percent overall. Shares in Microsoft were down 2.8 percent.The surprise drop in employment underpinned expectations that the US Federal Reserve will cut interest rates next week.”The justification for a rate cut next week centres around weakness in the (US) jobs market,” noted Joshua Mahony, chief market analyst at trading group Scope Markets.Money markets have put the chances of the Fed cutting interest rates on December 10 at nearly 90 percent.Lower interest rates make it easier for companies and consumers to borrow money, and thus the prospect of Fed rate cuts tend to boost stocks.Optimism over US rate cuts won an additional boost from reports that Trump’s top economic adviser Kevin Hassett — a proponent of more reductions — is the frontrunner to take the helm at the Fed when Jerome Powell’s tenure ends in May.While a number of bank decision-makers have thrown their hat in the ring for a reduction, there remains differences on the policy board about the need to target the soft labour market or stubbornly high inflation.With a cut to US interest rates expected, trading has softened ahead of key indicators this week that could still play a role in the central bank’s planning over the next year.The Fed’s preferred gauge of inflation — personal consumption expenditure (PCE) index — will be released on Friday.Investors see the Fed cutting rates three times next year, which has been a factor weighing on the dollar.A recovery in Bitcoin has also helped support equity markets.”A continued bounce in bitcoin and other cryptocurrencies has stoked a renewed speculative bid,” said Briefing.com analyst Patrick O’Hare.Bitcoin is back above $90,000. It plunged below $83,000 last month after having set a record high of $126,251 in October.European stocks were just below the break-even point in afternoon trading.Asian stock markets mostly rose Wednesday.The pound was up 0.7 percent against the dollar on UK data showing stronger than expected British services sector activity.Stronger sterling weighed on London’s benchmark FTSE 100 stock index, which features major companies earning in dollars.Elsewhere, the Indian rupee weakened past 90 per dollar for the first time, extending declines through the year as New Delhi struggles to strike a trade deal with the United States.- Key figures at around 1440 GMT -New York – Dow: DOWN less than 0.1 percent at 47,434.68 pointsNew York – S&P 500: DOWN 0.2 percent at 6,841.32New York – Nasdaq Composite: DOWN 0.5 percent at 23,315.58London – FTSE 100: DOWN less than 0.1 percent at 9,696.83 Paris – CAC 40: DOWN less than 0.1 percent at 8,069.52Frankfurt – DAX: DOWN less than 0.1 percent at 23,697.98Tokyo – Nikkei 225: UP 1.1 percent at 49,864.68 (close) Hong Kong – Hang Seng Index: DOWN 1.3 percent at 25,760.73 (close)Shanghai – Composite: DOWN 0.5 percent at 3,878.00 (close)Euro/dollar: UP at $1.1657 from $1.1622 on TuesdayPound/dollar: UP at $1.3296 from $1.3209Dollar/yen: DOWN at 155.50 yen from 155.86 yenEuro/pound: DOWN at 87.68 pence from 88.00 penceBrent North Sea Crude: UP 0.7 percent at $62.89 per barrelWest Texas Intermediate: UP 0.8 percent at $59.12 per barrelburs-rl/tw

European and Asian stock markets mostly rose Wednesday following a resumption of Wall Street’s rally, but gains were muted as investors await the last tranche of US data before next week’s Federal Reserve meeting.With a cut to US interest rates expected, trading has softened ahead of key indicators this week that could still play a role in the central bank’s planning over the next year.Most in focus are the private jobs report from payrolls firm ADP on Wednesday and Friday’s personal consumption expenditure (PCE) index — the Fed’s preferred gauge of inflation.”The justification for a rate cut next week centres around weakness in the (US) jobs market,” noted Joshua Mahony, chief market analyst at trading group Scope Markets.”While we are seeing confidence return for the US tech stocks, fears around an AI bubble will undoubtedly play a key role for investors going forward,” he added.Money markets have put the chances of a December 10 cut at around 90 percent, with another three forecast by the end of next year, weighing on the dollar.The pound was up 0.5 percent against the dollar on UK data showing stronger than expected activity from the British services sector.Stronger sterling weighed on London’s benchmark FTSE 100 stock index, which features major companies earning in dollars.Optimism over US rate cuts has meanwhile won an additional boost from reports that President Donald Trump’s top economic adviser Kevin Hassett — a proponent of more reductions — is the frontrunner to take the helm at the Fed when Jerome Powell’s tenure ends in May.While a number of bank decision-makers have thrown their hat in the ring for a reduction, there remains differences on the policy board about the need to target the soft labour market or stubbornly high inflation.Elsewhere on Wednesday, the Indian rupee weakened past 90 per dollar for the first time, extending declines through the year as New Delhi struggles to strike a trade deal with the United States.- Key figures at around 1050 GMT -London – FTSE 100: DOWN 0.2 percent at 9,680.66 pointsParis – CAC 40: FLAT at 8,073.80Frankfurt – DAX: UP 0.2 percent at 23,751.63Tokyo – Nikkei 225: UP 1.1 percent at 49,864.68 (close) Hong Kong – Hang Seng Index: DOWN 1.3 percent at 25,760.73 (close)Shanghai – Composite: DOWN 0.5 percent at 3,878.00 (close)New York – Dow: UP 0.4 percent at 47,474.46 (close)Euro/dollar: UP at $1.1665 from $1.1622 on TuesdayPound/dollar: UP at $1.3283 from $1.3209Dollar/yen: DOWN at 155.52 yen from 155.86 yenEuro/pound: DOWN at 87.81 pence from 88.00 penceBrent North Sea Crude: UP 1.3 percent at $63.26 per barrelWest Texas Intermediate: UP 1.5 percent at $59.52 per barrel

Thailand on Wednesday relaxed decades-old alcohol sales restrictions, allowing consumers to buy wine, beer and spirits during previously prohibited afternoon hours in a six-month trial.The predominantly Buddhist country still maintains strict alcohol laws, limiting sales to specific hours and banning them on religious holidays.Liquor stores, bars and other purveyors were previously banned from selling alcohol from 2:00-5:00 pm, but the eased rules permit sales from 11:00 am to midnight during the trial while a committee studies its impacts.Officials last month reviewed the long-standing 2:00-5:00 pm sales ban, a rule originally introduced to prevent government employees from drinking alcohol during work hours and often puzzling foreign visitors.”In the past, there were concerns that government employees would sneak out to drink, but it’s a different time now,” deputy prime minister Sophon Saram told reporters last month. Health Minister Pattana Promphat said the move was “appropriate to the present situation”, according to a statement in the Royal Gazette published on Tuesday.Despite its reputation as a tourism and nightlife hub, Thailand’s alcohol laws remained rooted in Buddhist teachings that view imbibing as a moral transgression. The country has some of the highest alcohol consumption rates in Asia, according to the World Health Organization (WHO), with locals typically reaching for the ubiquitous Chang, Singha and Leo beers.Thailand ranked 16th out of nearly 200 countries for the most road traffic deaths per capita in 2021, WHO data shows.Nearly 33,000 people were killed in drunk driving incidents in the country from 2019 to 2023, according to public health ministry figures.- ‘Good for tourists’ -In central Bangkok on Wednesday afternoon, several businesses told AFP journalists they had yet to notice a shift on the first day of the relaxed sales rules. “There haven’t been many people because customers still don’t know about the new law,” said a shop assistant at Gourmet Wine Cellar who declined to give their name.Shoppers at a 7-Eleven opted for soda over alcoholic beverages, despite signs posted on refrigerator doors noting the extended sales hours.At a nearly empty beer garden where a few customers were ordering pints, a server told AFP that she had heard of the rule change on TikTok.But, she said, “There’s almost no change because we usually don’t get any customers during this time.”Apple, a Thai marathon-runner, told AFP the loosened restrictions were “good for tourists”.”Tourists like to drink a lot. But for Thai people, maybe not, as we don’t normally drink at that time anyway,” she said.Matthew, a 23-year-old British traveller, said he hadn’t heard about the long-time sales ban or it being lifted.”Sounds like it would be terrible for the economy. So many tourists come here. Why would they do that? Religious reasons?”

Asian markets mostly rose Wednesday following a resumption of Wall Street’s rally, but gains were muted as investors await the last tranche of US data before next week’s Federal Reserve meeting.With a third successive interest rate cut already priced in, trading has softened ahead of key indicators this week that could still play a role in the central bank’s planning over the next year.Most in focus are the private jobs report from payrolls firm ADP, which is due later Wednesday, and Friday’s personal consumption expenditure (PCE) index, which is the Fed’s preferred gauge of inflation.Money markets have put the chances of a December 10 cut at around 90 percent, with another three forecast by the end of next year.The optimism has also been boosted by reports that President Donald Trump’s top economic adviser Kevin Hassett — a proponent of more reductions — is the frontrunner to take the helm at the Fed when Jerome Powell’s tenure ends in May.But while a number of bank decision-makers have thrown their hat in the ring for a reduction, observers said there appeared to still be some differences on the policy board about the need to target the soft labour market or stubbornly high inflation.And Andrew Brenner at NatAlliance Securities said this could lead to a “hawkish cut”.IG market analyst Fabien Yip wrote: “Friday’s core PCE index represents the final major inflation gauge before the Fed’s December policy meeting.”Any deviation could alter expectations regarding the Fed’s policy stance, particularly as the central bank weighs inflation persistence against a softening labour market.””The release of personal income and spending data alongside the PCE will provide additional perspective on consumer resilience,” Yip said.While calls for a rate cut have been driven by worries over the jobs outlook and signs the world’s top economy was slowing, the National Retail Federation provided some early festive cheer by releasing an upbeat appraisal of the “Black Friday” holiday shopping weekend.A record 202.9 million consumers shopped over the five-day stretch, topping estimates, the NRF said, adding that the reading “reflects a highly engaged consumer”.All three main indexes on Wall Street ended in the green, and most of Asia followed suit.Tokyo piled on more than one percent with Seoul, while Sydney, Singapore, Wellington, Taipei and Jakarta were also up.Hong Kong, Shanghai, Mumbai, Bangkok and Manila fell.London opened in the red, while Paris and Frankfurt rose.Bitcoin climbed back above $90,000, recovering from this week’s swoon that saw it lose almost 10 percent amid a risk-off start to the week for risk assets.However, sentiment in the crypto sector remains soft after the unit plunged last month to as low as $80,550, having hit a record above $126,250 in October.The Indian rupee weakened past 90 per dollar for the first time, extending declines through the year as New Delhi struggles to strike a trade deal with the United States.Dilip Parmar, an analyst at HDFC Securities, told AFP the rupee’s fall was “first and foremost” an “imbalance of demand and supply” with foreign fund outflows and trade deal uncertainties adding fuel to the fire.But another key factor, Parmar added, was a lack of “big and impactful” interventions from India’s central bank.Analysts believe the Reserve Bank of India has this year sporadically defended the rupee through aggressive dollar sales to support key levels, but also appears of late to be allowing greater currency flexibility.”Defending a specific level in the current macro backdrop would be costly and counterproductive,” Raj Gaikar, research analyst at SAMCO Securities, told AFP.”With inflation running well below earlier expectations, the policy priority has shifted toward supporting growth rather than expending reserves to hold an artificial line,” he said.- Key figures at around 0815 GMT -Tokyo – Nikkei 225: UP 1.1 percent at 49,864.68 (close) Hong Kong – Hang Seng Index: DOWN 1.3 percent at 25,760.73 (close)Shanghai – Composite: DOWN 0.5 percent at 3,878.00 (close)London – FTSE 100: DOWN 0.1 percent at 9,694.82 Dollar/yen: DOWN at 155.71 yen from 155.86 yen on TuesdayEuro/dollar: UP at $1.1643 from $1.1622 Pound/dollar: UP at $1.3242 from $1.3209Euro/pound: DOWN at 87.92 pence from 88.00 penceWest Texas Intermediate: UP 0.5 percent at $58.95 per barrelBrent North Sea Crude: UP 0.5 percent at $62.74 per barrelNew York – Dow: UP 0.4 percent at 47,474.46 (close)

India’s rupee fell to a fresh record low of over 90 per dollar Wednesday, extending recent declines, with traders partly blaming the delay in striking a trade deal with the United States.The rupee is among Asia’s worst forex performers this year, pressured by India’s current account deficit and foreign outflows.New Delhi’s early trade negotiations with Washington sparked optimism that foreign capital would flow into the world’s fifth-largest economy — helping push the rupee to a nearly six-month-high of 83.75 against the dollar in May.But setbacks in trade talks and weak corporate earnings have caused overseas investors to offload well over $16 billion in Indian shares this year so far.On Wednesday morning, the rupee weakened as much as 0.35 percent to a symbolic new low of 90.19, according to Bloomberg data.Dilip Parmar, an analyst at HDFC Securities, told AFP the rupee’s fall was “first and foremost” an “imbalance of demand and supply” with foreign fund outflows and trade deal uncertainty adding fuel to the fire.But another key factor, Parmar added, was a lack of “big and impactful” intervention from India’s central bank.Analysts say the Reserve Bank of India (RBI) has this year sporadically defended the rupee through aggressive dollar sales to support key levels, but also appears of late to be allowing greater currency flexibility.”Defending a specific level in the current macro backdrop would be costly and counterproductive,” Raj Gaikar, research analyst at SAMCO Securities, told AFP.”With inflation running well below earlier expectations, the policy priority has shifted toward supporting growth rather than expending reserves to hold an artificial line,” he said.The central bank was intervening only to ease volatility, not to reverse a trend driven by fundamentals, Gaikar added.He expects the rupee to settle in a “88-92 range”.”This more hands-off approach signals a transition to a market-aligned regime rather than a rigid defence of symbolic levels,” he said.

In China, AI glasses let the wearer pay in shops with just a glance at a QR code and a voice command, as a growing number of companies look to conquer both growing domestic and overseas markets.Interest in smart eyewear is soaring worldwide after more than a decade of stalled promise, with advances in artificial intelligence sparking a fresh boon for the sector.US giant Meta is the clear market leader, but a host of Chinese companies — from behemoths like Alibaba and Xiaomi to start-ups like Rokid and XREAL — have their sights set on catching up.”China’s advantages are self-evident,” Rokid CEO Misa Zhu told AFP after a recent launch in the eastern city of Hangzhou.”The ecosystem and its supply chain are all in China, and China produces a lot.”Domestically, Chinese companies have an undeniable edge — Meta’s services are blocked there, inaccessible without a VPN.The country is a potentially massive and lucrative market for wearable tech.Smart glasses sales are expected to have grown 116 percent there on-year in 2025, according to market intelligence provider IDC.Daily life is already highly digitalised, with even older citizens using smartphones for everything from payments to transport.China’s internet-based infrastructure, such as QR payment codes in shops, is “already more developed than in Europe and the United States”, said Zhu.- ‘Dark horse’ Xiaomi -Other Chinese companies like Xiaomi, RayNeo, Thunderobot and Kopin are active players in the smart glasses sector, wrote Flora Tang, an analyst at research firm Counterpoint.Xiaomi in particular was a “dark horse”, she said, its debut AI glasses the third best-selling of their kind for the first half of 2025 despite only being on sale for about a week.Interest is also being shown in smaller companies like Rokid, with the company raising more than $4 million on crowdfunding site Kickstarter recently.Rokid is “observing and learning… from big global companies”, CEO Zhu said.To straddle the domestic and overseas markets, the firm allows customers to use Chinese apps in China, and others elsewhere, unlike competitors like Meta, which limit the apps on offer.The Rokid glasses are not locked to one generative AI model, either.”We are very open that we use OpenAI, and can also connect with Llama, Gemini, and Grok” Zhu said.”That’s why many people like us.”Another feature Rokid demonstrated in Hangzhou was simultaneous translation, featuring phosphor-green English subtitles that rolled across the glasses’ inner lenses as an employee talked in Chinese.But shattering Meta’s dominance overseas will be challenging.In the first half of 2025, Meta commanded a 73 percent share of the growing global smart glasses market, according to Counterpoint.Its success has been attributed to the Ray-Ban Meta Smart Glasses, almost indistinguishable from everyday, and crucially fashionable, eyewear.- Privacy concerns -In Hangzhou, Rokid unveiled new collaborations with Bolon, which is also owned by Ray-Ban’s parent company EssilorLuxottica.With weight also a crucial factor, Rokid says its models are among the world’s lightest.”Appearance remains the top priority — it has to make people actually want to wear it,” 25-year-old customer Wu Tianhao told AFP.Chinese firms showcase “numerous brands and models, rapid iteration, and ability to quickly adapt to market changes”, industry expert Zhu Dianrong said.However, “overseas brands still hold an advantage in hard tech like full-colour displays and optical waveguides”.Rokid’s vice president Gary Cai acknowledged an “obvious gap” in chip technology available in China and overseas, but noted the difference between AI models “has narrowed considerably”.Despite interest in smart glasses rising, Chinese and foreign firms alike face major challenges ahead of widespread adoption.Across the board, the user experience needs more polish and accessibility, said Will Greenwald, writer for consumer electronics outlet PCMag.”I don’t think anyone has really made it a smooth experience just yet,” he told AFP.Privacy concerns remain a hurdle, with the ramifications of widely worn glasses discreetly and near-constantly recording throwing up potential regulatory pitfalls.Still, manufacturers such as Zhu remain confident.”Today, our AI glasses are phone peripherals,” he said. “But in the near future… phones will become accessories to the glasses.”

Wall Street stocks resumed their upward climb Tuesday after the previous day’s stutter, as markets weighed expected additional interest rate cuts and favorable seasonal dynamics against valuation concerns.After mixed sessions on Asian and European bourses, New York indices spent the day in positive territory, veering between modest and larger gains.The broad-based S&P 500 ended up about 0.3 percent.Investors were reassured by the retreat in Treasury bond yields that suggested less worry that shifting monetary policy in Japan would spark volatility.”The early buying interest reflects more of the back-and-forth action of a market playing the seasonality game while remaining cognizant of stretched valuations and concentration risk,” said Briefing.com analyst Patrick O’Hare.He added investors were keeping an eye on the US Treasuries market, a day after a jump in yields on US government bonds contributed to losses in the stock market.Bets on the US central bank easing monetary policy next week for a third successive meeting have been rising since several Fed decision-makers flagged concerns over labor market weakness.While Tuesday’s calendar was light on government economic data, the National Retail Federation released an upbeat appraisal of the “Black Friday” holiday shopping weekend, a critical period in the US festive season.A record 202.9 million consumers shopped over the five-day stretch, topping estimates, according to the NRF, which said the turnout “reflects a highly engaged consumer who is focused on value, responds to compelling promotions, and seizes upon the opportunity to make the winter holidays special and meaningful.”Investors are awaiting Wednesday’s monthly report on private-sector jobs, followed by the inflation figures for September on Friday.Major European markets ended mixed.Official data on Tuesday showed eurozone inflation edged up to 2.2 percent in November, veering slightly away from the European Central Bank’s two-percent target.The ECB will announce its rate decision on December 18.The data “comes at a time where some had claimed we could yet see another cut from the ECB, although the likeliness is that their easing cycle is over,” said Joshua Mahony, chief market analyst at Scope Markets.Across Asia, most markets closed higher Tuesday.Tokyo was flat after erasing early gains, following Monday’s losses triggered by Bank of Japan boss Kazuo Ueda hinting at a possible interest rate hike this month.South Korean tech titan Samsung Electronics jumped more than two percent in Seoul as it launched its first triple-folding phone, even as its price tag over $2,400 places it out of reach for the average customer.Bayer surged more than 12 percent after the Trump administration backed the German agrochemical giant’s latest legal strategy to limit liability connected to claims that a popular weedkiller causes cancer.In a filing to the US Supreme Court, Trump’s Solicitor General John Sauer argued in favor of Bayer’s stance that a federal statute on pesticide labels preempts state laws requiring warnings on products that may be carcinogenicBoeing jumped around 10 percent as Chief Financial Officer Jay Malave confirmed expectations that the company expects higher plane deliveries in 2026, a key component of a long-term plan to return to profitability and the generation of free cashflow.- Key figures at around 2115 GMT -New York – Dow: UP 0.4 percent at 47,474.46 (close)New York – S&P 500: UP 0.3 percent at 6,829.37 (close)New York – Nasdaq Composite: UP 0.6 percent at 23,413.67 (close)London – FTSE 100: FLAT at 9,701.80 (close)Paris – CAC 40: DOWN 0.3 percent at 8,074.61 (close)Frankfurt – DAX: UP 0.5 percent at 23,710.86 (close)Tokyo – Nikkei 225: FLAT at 49,303.45 (close) Hong Kong – Hang Seng Index: UP 0.2 percent at 26,095.05 (close)Shanghai – Composite: DOWN 0.4 percent at 3,897.71 (close)Dollar/yen: UP at 155.86 yen from 155.46 yen on MondayEuro/dollar: UP at $1.1622 from $1.1610 Pound/dollar: DOWN at $1.3209 from $1.3213Euro/pound: UP at 88.00 pence from 87.86 penceWest Texas Intermediate: DOWN 1.2 percent at $58.64 per barrelBrent North Sea Crude: DOWN 1.1 percent at $62.45 per barrelburs-jmb/bgs

Stocks steadied Tuesday following the previous day’s stutter, as weak data reinforced optimism for US interest rate cuts and tempered concerns over rising Japanese bond yields.Expectations that the Federal Reserve will lower borrowing costs have buoyed markets in recent weeks, helping them recover early November’s losses driven by tech bubble fears.Wall Street’s main stock indices were mostly higher in late morning trading, but had lost much of their early gains.”The early buying interest reflects more of the back-and-forth action of a market playing the seasonality game while remaining cognizant of stretched valuations and concentration risk,” said Briefing.com analyst Patrick O’Hare.He added investors were keeping an eye on the US Treasuries market, a day after a jump in yields on US government bonds contributed to losses in the stock market.Bets on the US central bank easing monetary policy next week for a third successive meeting have been rising since several Fed decision-makers flagged concerns over labour market weakness.Those comments have been compounded by figures showing the economy continues to soften while inflation appears to have stabilised for now.Investors are awaiting Wednesday’s monthly report on private-sector jobs, followed by the inflation figures for September on Friday.However, the rise in yields on long-term US Treasuries was an indication that investors see inflation picking up in the future.”Collectively, the Fed seems certain that inflation, while still high, has peaked,” said Trade Nation analyst David Morrison. “The market appears to disagree.”Major European markets ended mixed.”European stock markets were hampered by euro area inflation unexpectedly edging higher,” said IG trading platform analyst Axel Rudolph.Official data on Tuesday showed eurozone inflation edged up to 2.2 percent in November, veering slightly away from the European Central Bank’s two-percent target.The ECB will announce its rate decision on December 18.The data “comes at a time where some had claimed we could yet see another cut from the ECB, although the likeliness is that their easing cycle is over,” said Joshua Mahony, chief market analyst at Scope Markets. Across Asia, most markets closed higher Tuesday.Tokyo was flat after erasing early gains, following Monday’s losses triggered by Bank of Japan boss Kazuo Ueda hinting at a possible interest rate hike this month.His remarks lifted the yen and provided a jolt to equities as the yield of Japanese two-year government bonds rose past one percent to their highest since 2008 during the global financial crisis. Ueda’s hint also weighed on Wall Street as his comments “could mark a de-anchoring of the carry trade, in which traders borrow yen at low cost to invest in riskier assets”, wrote City Index senior market analyst Fiona Cincotta.”A higher rate in Japan could suck liquidity out of the markets. Tech stocks and crypto are particularly sensitive to even the smallest shifts in liquidity.”South Korean tech titan Samsung Electronics jumped more than two percent in Seoul as it launched its first triple-folding phone, even as its price tag over $2,400 places it out of reach for the average customer.Oil prices dipped ahead of talks between US envoy Steve Witkoff and Russian President Vladimir Putin in Moscow on the Trump administration’s controversial proposal to end the war in Ukraine.- Key figures at around 1630 GMT -New York – Dow: UP 0.2 percent at 47,368.66 pointsNew York – S&P 500: FLAT at 6,809.64New York – Nasdaq Composite: UP 0.1 percent at 23,304.15London – FTSE 100: FLAT at 9,701.80 (close)Paris – CAC 40: DOWN 0.3 percent at 8,074.61 (close)Frankfurt – DAX: UP 0.5 percent at 23,710.86 (close)Tokyo – Nikkei 225: FLAT at 49,303.45 (close) Hong Kong – Hang Seng Index: UP 0.2 percent at 26,095.05 (close)Shanghai – Composite: DOWN 0.4 percent at 3,897.71 (close)Dollar/yen: UP at 155.77 yen from 155.50 yen on MondayEuro/dollar: UP at $1.1609 from $1.1608 Pound/dollar: DOWN at $1.3195 from $1.3211Euro/pound: UP at 87.99 pence from 87.87 penceWest Texas Intermediate: DOWN 0.5 percent at $59.05 per barrelBrent North Sea Crude: DOWN 0.5 percent at $62.88 per barrelburs-rl/rlp