
U.S. Indices closed higher yesterday as the S&P500 recorded its fourth consecutive session of gains led by major tech stocks. The S&P 500 rose about 0.5% to 6,910, while the Nasdaq gained 0.6% and the Dow added nearly 0.2%.
Earlier in the session, U.S. Q3 GDP surprised to the upside at 4.3%, beating expectations and briefly limiting hopes for near-term rate cuts. Investor sentiment remains upbeat heading into year end. Weekly jobless claims are the next key data point today, while markets close early Wednesday and remain shut Thursday for Christmas.
Asia-Pacific markets traded mixed on Wednesday amid early closures for Christmas Eve. Japan’s Nikkei edged higher.
Commodities stole the spotlight as gold surged past $4,500 an ounce for the first time, with silver also hitting record highs, supported by a weaker U.S. dollar, geopolitical risks, and Fed rate-cut expectations. Silver has so far surged more than 150% in 2025, boosted by investment and industrial demand.
Oil prices edged higher as markets weighed stronger-than-expected U.S. GDP growth against geopolitical supply risks tied to Venezuela and Russia.
Brent crude broke above $62, while WTI gained 0.6% to $58.52, extending gains from Monday’s sharp rally. Support came from optimism around U.S. economic strength and uncertainty after President Trump said the U.S. may keep or sell seized Venezuelan oil, despite pressure from rising U.S. crude and fuel inventories reported by the API.
In the currencies market, USD/JPY fell to 155.56 in early Asian trading as the U.S. dollar weakened against the yen, despite stronger-than-expected U.S. GDP growth of 4.3% in Q3. Markets remain focused on expectations of Federal Reserve rate cuts next year, limiting support for the dollar. The yen found some support from verbal intervention by Japanese officials, who signaled readiness to act against excessive currency moves.
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