Weekend brief · Friday close, as of 16:00 ET · Neutral
The S&P 500 slipped 0.48% and the Nasdaq lost 0.56% as warnings from leading AI executives triggered a global selloff in chip and AI-linked shares. Nvidia fell 3.4% and the Philadelphia semiconductor index dropped 5.9%.
Sources: apnews.com source 1 · ca.investing.com source 2
The benchmark yield moved above 5% for the first time since 2023 before easing to about 4.98%. Higher oil prices, sticky inflation and heavy borrowing kept pressure on bonds ahead of the Fed meeting.
Sources: apnews.com source 1 · ca.investing.com source 2
Brent settled 1% higher at $105.68 after approaching $110 as new strikes on Saudi energy infrastructure and attacks on shipping reinforced supply concerns. A key Saudi pipeline is expected to remain mostly unavailable for weeks.
Sources: apnews.com source 1 · ca.investing.com source 2
The Federal Reserve begins its two-day meeting today. Traders are assigning roughly a 90% chance to a quarter-point increase on Wednesday as policymakers confront stubborn inflation and the renewed oil shock.
Sources: apnews.com source 1 · federalreserve.gov source 2 · cmegroup.com source 3
ServiceNow gained 7.4%, Adobe rose 5.3% and Workday added 4.6%, helping broader market breadth even as Nvidia, Micron, Broadcom and AMD fell sharply. More S&P 500 stocks advanced than declined despite the index loss.
Sources: apnews.com source 1 · ca.investing.com source 2
December gold settled at $4,351.90, down 1.29%, while silver finished at $63.513, down 1.61%. Rising yields and expectations for a Fed increase outweighed demand for precious metals as a geopolitical hedge.
Sources: ca.finance.yahoo.com source 1 · comexlive.org source 2 · query1.finance.yahoo.com source 3
The S&P 500 moved from a 0.86% Friday gain to a 0.48% Monday loss, while the Nasdaq shifted from a 0.96% gain to a 0.56% decline.
Sources: apnews.com source 1 · apnews.com source 2
Friday's hardware rally turned into a broad semiconductor selloff: Nvidia lost 3.4% and the chip index fell 5.9%, while recently pressured software shares rebounded.
Sources: reuters.com source 1 · ca.investing.com source 2
Markets will weigh the new 3.75% to 4.00% federal-funds target and the outlook for further tightening.
Sources: federalreserve.gov source 1
Energy developments remain a key input for inflation expectations and bond yields after a volatile week for crude.
Sources: apnews.com source 1
Shares rebounded with enterprise-software peers after recent selling driven by fears that AI competitors would pressure margins.
Sources: finviz.com source 1 · ca.investing.com source 2
Adobe joined a broad rebound in software companies that had recently fallen on concerns about AI-powered competition.
Sources: finviz.com source 1 · apnews.com source 2 · ca.investing.com source 3
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