Web Trader MT5 
U.S. stocks closed higher Wednesday as weaker-than-expected ADP jobs data boosted expectations of a Federal Reserve rate cut next week. The Dow gained 0.8%, the S&P 500 rose 0.3%, and the Nasdaq added almost 0.2%. ADP reported a surprise loss of 32,000 private-sector jobs in November, leading markets to price in an 89% chance of a December rate cut.
However, Microsoft weighed on the tech sector, falling 2.5% amid reports of AI-related quota cuts, which the company later denied.
Asia-Pacific markets mostly advanced Thursday, following Wall Street’s gains on rising expectations of a Federal Reserve rate cut next week.
Japan led regional gains, with the Nikkei 225 up 1.7% and the Topix up 1.8%, driven by strong performances in industrials and tech.
In the Forex market, the Japanese yen weakened on Tuesday despite briefly strengthening the previous day after BoJ Governor Ueda hinted at a possible December rate hike. His hawkish comments initially boosted the yen and rattled global markets, but sentiment stabilized after a successful Japanese government bond auction.
Crypto markets rebounded broadly, as Ethereum climbed above $3,200 and Chainlink and Curve jumped 7.5% and 12% respectively. Bitcoin also regained $93,000 levels.
And in the commodities market, gold rose to around $4,225 as mixed US economic data and rising expectations of a Fed rate cut supported the metal. ISM Services PMI slightly beat forecasts, but ADP data highlighted weakening labour conditions ahead of next week’s Fed meeting.
Geopolitical tensions over stalled US–Russia talks on Ukraine and strong central-bank gold buying, 53 tonnes in October, the largest monthly increase this year also added support to prices.
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