Global Market Snapshot: Equities, Commodities, Macro Trends, and Fed Outlook

Index Update:  U.S. stocks advanced Wednesday, with the Dow up 0.86% and modest gains in the S&P 500 and Nasdaq, as weaker ADP payroll data boosted confidence in an imminent Fed rate cut. After hours, Salesforce and Five Below rose on upbeat guidance and earnings, while Snowflake fell sharply on deeper losses. Markets now await results from Dollar General, DocuSign, HP, and others on Thursday.

Market Movers:  On Wednesday, the top gainers were Capricor Therapeutics, Inc.(+371.07%), followed by iRobot Corporation (+73.85%). On the WORK Medical Technology Group LTD (-35.94%), and Agroz Inc. (-33.61%) declined the most the same day.

Commodities Update:  WTI and Brent crude prices climbed, supported by Ukrainian strikes on Russian oil infrastructure, stalled U.S.–Russia peace talks, and rising geopolitical tensions, though gains were limited by weak demand and rising U.S. inventories. Gold eased as investors took profits and awaited clearer signals ahead of the Fed meeting, despite soft U.S. payroll data reinforcing expectations of a rate cut. Silver stayed near record highs, supported by tight global supply, surging ETF inflows, and growing expectations of deeper Fed easing.

Macro Updates:  U.S. employers announced 71,321 job cuts in November 2025, up from a year earlier but sharply lower than October’s spike. Telecom, led by Verizon, recorded the most layoffs, followed by tech, food, services, and retail. Restructuring was the main driver. Year-to-date cuts reached 1.17 million—54% higher than last year and the highest level since 2020.

Bonds Commentary:  The U.S. 10-year Treasury yield edged up to about 4.08% as global bond yields climbed, driven by expectations of tighter policy in Japan and Australia. Japan’s yield hit an 18-year high on speculation of a BOJ rate hike, while Australia’s rose on strong data. In the U.S., weaker payrolls increased concerns about the labor market and boosted odds of a Fed rate cut, as markets also assessed potential leadership changes at the Fed.

Futures Update:  U.S. stock futures inched higher on Thursday as investors awaited fresh economic data ahead of next week’s Federal Reserve meeting. Futures for the Dow, S&P 500, and Nasdaq 100 each rose about 0.1%. The gains follow Wednesday’s advance on Wall Street, where softer private-sector payroll data strengthened expectations of a 25-basis-point Fed rate cut, with markets assigning about a 90% probability.

After initially showing a lack of direction early in the session, stocks mostly moved higher throughout Wednesday's trading day. The S&P 500 increased by 20.33 points, or 0.30%, closing at 6,849.71. From a technical standpoint, the index maintained support at important levels and gradually advanced. It also remains above its key moving averages, signaling a bullish trend. The 14-day Relative Strength Index (RSI) is above the oversold point, further reinforcing a positive bias. Key support levels are around 6,755, with resistance expected near 6,977.