
U.S. Indices started the week on a strong footing. The S&P 500 posted its third straight gain, lifted by strength in Nvidia and Oracle. The Dow and Nasdaq both closed higher, reflecting a healthy market tone and ongoing rotation into cyclical stocks.
Dow Jones closed at 48,338 yesterday, up 0.40% during the trading session. Nasdaq rose 0.29% to close at 25,459, and the S&P500 rose 0.46% to close at 6,873, nearing its precious record highs.
Oil prices opened higher this week as escalation continues between the U.S. and Venezuela. Brent closed 2.34% higher on Monday at $61.45 per barrel. West Texas Intermediate gained 2.54% yesterday and ended the trading session at $57.70.
President Trump said the U.S. will retain crude oil and tankers seized near Venezuela, leaving open the possibility of selling the oil or adding it to the strategic reserve. The move follows a U.S.-ordered blockade of sanctioned Venezuelan oil shipments, with at least two tankers already seized and a third being pursued.
Asia-Pacific markets mostly rose on Tuesday, tracking gains on Wall Street led by a renewed rally in AI stocks. Nvidia and Oracle rose after reports of potential H200 chip shipments to China boosted tech sentiment.
Australian shares extended gains. Nikkei was mostly flat as officials signaled possible currency intervention following recent yen weakness. South Korean markets were mixed. Hong Kong and mainland China edged higher, supported by strong IPO debuts of new Chinese companies.
In the Forex market, GBP/USD pushed higher on Monday, reaching its strongest level in around ten weeks as broad U.S. dollar weakness dominated the market. The move came despite a recent Bank of England rate cut.
The U.S. dollar remained under pressure following the Federal Reserve’s third consecutive rate cut, while markets looked ahead to the final U.S. data releases before the holidays, including ADP employment and GDP figures. Weak labor market signals and expectations of slower U.S. growth continues to weigh on the dollar, supporting Sterling Pound.
Precious metals continued to push higher thanks to a weaker dollar and safe-haven demand. Gold recorded a high of $4,497 in early trading today, while silver is approaching the crucial $70 mark.
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