Chris Becker

Yet again Wall Street only rallied overnight due to tech giants as the AI bubble keeps the mirage of everything afloat.

Asian markets are generally steady following the weekend gap with traders absorbing the outcome of the Trump-Xi summit last week amid some other economy releases, not withstanding last week’s Fed meeting which saw a “cut and wait” approach as too much inflation and not enough job growth plagues the Trump regime.

Friday night saw Wall Street rally after falling for several sessions, but again it was tech stock earnings due to the AI bubble keeping everything afloat.

Asian markets are generally lower although the latest Tokyo inflation numbers saw Japanese stocks rise swiftly with another BOJ rate hike now on the cards while the outcome of the Trump-Xi summit is not inspiring confidence in other risk markets.

Risk markets fell were uneasy overnight on the so-called US-China truce out of the summit between the Trump and Xi regimes with Wall Street falling back despite very solid earnings from Amazon as Meta was dumped more than 11% on AI troubles.

Asian markets are generally lower as the Trump-Xi summit concludes with some interesting reactions across other risk markets as well to the possibility of a trade deal – but hold the cheese and get ready for another TACO trade!

Risk markets fell back overnight as the long expected cut from the Federal Reserve was followed by a lot of cautionary talk by Chair Powell, indicating that this may well be the last cut for awhile as the push through effect of tariffs on inflation might stall further cuts.

Looks like everyone but the Fed is going to raise interest rates soon with the latest local inflation figures surging and cutting all chances of a cut from the RBA in its November meeting while it seems the BOJ is also likely to start raising rates going into 2026.

Wall Street rallied again overnight on the continued potential US-China trade deal as risk markets pivot towards the expected rate cut from the Federal Reserve this week.

A few wobbles across Asian share markets with the catalyst of another potential rare earth trade deal between the Trump regime and Japan helped Yen strengthen against USD.