US stock market rebounds, boosted by tech stocks and Bitcoin rebound, as investors hope for Fed interest rate cuts
US stocks rose on Tuesday (December 2, 2568) after rebounding from the previous day's selling pressure, boosted by technology stocks, led by Nvidia, which continued to rise. Bitcoin rebounded more than 2% after a sharp drop the previous day, boosting the investment atmosphere. Expectations that the Fed will cut interest rates at its meeting on December 10 remain a key support for the market, with investors placing over 89% of their weight on a rate cut.
- Dow Jones Industrial Average Closed at 47,474.46 points, up 185.13 points (+0.39%)
- S&P 500 Index Closed at 6,829.37 points, up 16.74 points (+0.25%)
- Nasdaq Composite Index Closed at 23,413.674 points, up 137.752 points (+0.59%)
Marvell Technology shares surged more than 10% in after-market trading on positive sentiment about its data center business, while American Eagle shares also jumped more than 10% after it raised its holiday revenue forecast.
Analysts believe that while the market remains volatile due to AI news, buying power is gradually returning, with investors increasingly looking to the prospect of a "year of profit recovery" in 2569.
European stock markets bounce slightly, with utilities supporting the market, while selling pressure remains limited.
European stock markets closed slightly higher on Tuesday. After the heavy selling on the first day of the month, the situation has begun to ease, with the Utilities sector being the standout sector of the day, responding to the view that this sector is stable during the volatile market, while investors are also keeping an eye on the outcome of the Fed meeting next week.
- STOXX 600 Index Closed at 575.65 points, up 0.38 points (+0.07%)
- DAX German stock market index Closed at 23,710.86 points, up 121.42 points (+0.51%)
- CAC 40 Index of the French stock market Closed at 8,074.61 points, down 22.39 points (-0.28%)
Orsted shares jumped more than 3%, while EDP shares rose 1.7%, pushing the Utilities index to the top spot in Europe on the day. Meanwhile, the British banking sector received a boost from the Bank of England's capital requirement cuts, sending Metro Bank and Lloyds shares up 2-2.6%.
UK stocks steady, FTSE largely unchanged as investors await signals from the BoE
The London stock market closed virtually unchanged on Tuesday. Investors are still awaiting signals on the direction of interest rates from the Bank of England (BOE) after UK inflation data continued to show a tendency to slow down.
- FTSE 100 Index UK Stock Market Closed at 9,701.80 points, down only 0.73 points (-0.01%)
The market received some support from banking stocks that rebounded on signals from the BOE to cut reserves, but energy and commodities stocks continued to weigh on the index.
Gold prices fall after hitting a six-week high as investors take profits, but expectations of a Fed rate cut continue to support the upward trend.
The world gold price fell on Tuesday. Profit-taking pressure following gold prices hitting a six-week high the previous day, despite expectations of a Fed rate cut, is expected to support the gold price's outlook going forward.
- Spot Gold Price Down 1.5% to close at $4,168.23/ounce.
- Comex gold price (February delivery) Down 1.7%, closing at $4,203/ounce.
Many analysts still believe that gold is in a continued upward momentum and could hit $5,000 early next year if the Fed sends a clear easing signal from slowing US economic data.
Oil prices fall more than 1% as market weighs Russia-Ukraine peace hopes with oversupply concerns
Global oil prices fell on Tuesday. After investors began to assess the progress of the Russia-Ukraine peace talks against the global oil supply situation, which remains high, geopolitical tensions continue to pressure the market.
- WTI (January delivery) Closed at $58.64/barrel, down $0.68 (-1.15%).
- Brent (delivered in January) Closed at $62.45/barrel, down $0.72 (-1.14%).
The market is also monitoring supply risks from the attack on an oil tanker in the Black Sea and OPEC+'s stance on maintaining production levels in the first quarter of 2026.
The dollar strengthened against the yen, with markets returning to dollar buying after concerns about the Bank of Japan (BOJ) eased. The euro fluctuated in line with Eurozone inflation.
The dollar rebounded on Tuesday. Investors returned to buying dollars on the back of the still-strong US economy, despite expectations of a Fed rate cut remaining a drag, while the yen weakened somewhat after a strong rebound the previous day.
- Dollar/Yen Increased to 156.00 yen (+0.3%)
- Euro/Dollar At $1.1604, slightly weaker.
The British pound fell slightly, in line with market trends, despite the Bank of England (BOE) announcing a cut in bank capital requirements to stimulate domestic lending.
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