First Light News: AI Concerns Hit Chip Stocks
AI worries hit chips, Fed hike talk returns, and Canadian jobs data loom.
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AI worries hit chips, Fed hike talk returns, and Canadian jobs data loom.

Surging oil prices and spreading European debt concerns pressure global markets as investors reassess inflation risks and Federal Reserve policy.

The American currency is moving higher as traders focus on escalation in the Middle East.

Fed minutes keep year-end tightening alive as DXY eyes 102.49, while EUR/USD targets 1.1161 and GBP/USD risks another test of 1.3180.

Rising oil prices, elevated bond yields and renewed French fiscal concerns are pressuring global markets ahead of the Fed minutes.
The tech giant is also expected to get a boost from its latest folding devices that were launched in August.

U.S. dollar is moving higher as traders focus on problems in European debt markets.
The Survey of Consumer Expectations indicated that the median outlook for inflation over the next 12 months rose to 3.9%.
The Survey of Consumer Expectations indicated that the median outlook for inflation over the next 12 months rose to 3.9%.

Crude oil bottomed right at its triangle-vertex-based reversal, on the exact day the technique flagged, and that is no surprise.
HSBC and Goldman Sachs expect the RBI to raise interest rates in December as well.

Tuesdays session is shaping up as a confirmation day rather than a prediction day.

Gold has also strengthened a little bit in the U.S. morning as the dollar and yields eased their pressure on the rest of the world.

The American currency moved away from yearly highs as traders focused on falling Treasury yields.
That marked a 13.7% jump from July and was ahead of the Dow Jones consensus estimate for $102 billion.

DXY holds above 101.76 as high Treasury yields offset Fed cut expectations, while EUR/USD tests 1.1225 and GBP/USD remains capped below 1.3250.

Equities shrug off bond stress, and the euro sits near a 17-month low.
The World Bank now expects the region to grow 4.5% this year, but flagged that trade growth outside AI-related goods has been "weak or negative."
The World Bank now expects the region to grow 4.5% this year, but flagged that trade growth outside AI-related goods has been "weak or negative."

The Monday session has several competing forces pulling investors in multiple directions.