Markets Rally on Rate Cut Speculation Amid Tariff Uncertainty
U.S. futures advanced as dovish signals from Fed officials offset November's earlier losses. The Dow, S&P 500, and Nasdaq each gained ground, though AI-linked stocks retreated from overbought levels. Delayed economic data due to the government shutdown has left traders parsing retail sales and producer price reports for direction.
Alibaba’s 5% surge on AI app HYPE anchored a broad Asian rally, with Hong Kong outperforming. South Korean automakers dragged the Kospi lower, while Australian and Indian markets held steady. Earnings season winds down with Alibaba, Dell, and Best Buy reports pending.
Supreme Court scrutiny of Trump-era tariffs looms as a potential disruptor. A ruling against the measures could force corporate strategy shifts and rattle futures markets.
