Overnight Market Recap: U.S. Stocks Rise, Oil Falls, Boeing Soars Over 10%, Putin Meets U.S. Envoy, Strategists Cautious on Dollar Outlook

Markets - U.S. stocks closed higher on December 3, led by Bitcoin and tech stocks, with the Dow Jones gaining 180 points. - Top 20 U.S. stock movers: Apple resists Indian government's mandatory security app installation order. - Chinese ADRs were mixed: Atour Lifestyle rose 5.59%, while XPeng dropped 7.92%. - Oil prices edged lower amid oversupply concerns and geopolitical risks. - Spot gold fell 0.57%, while COMEX gold futures declined 0.77%. - European stocks were flat, with Bayer surging on positive legal news.

Macro - Trump plans to expand travel bans to around 30 countries. - Trump stated the U.S. will "soon" launch ground strikes against drug cartels. - He warned that any country trafficking drugs to the U.S. could face retaliation. - Trump delayed naming Powell's successor until early next year, praising Fed "potential" chair Hassett. - The Trump administration plans a major overhaul of Washington Dulles Airport. - SEC Chair aims to introduce new capital market rules in January to encourage more IPOs. - House Speaker Johnson: No commitment to extend Affordable Care Act subsidies. - U.S. gasoline prices fell below $3 per gallon for the first time since 2021. - U.S. money market funds hit a record high, surpassing $8 trillion. - Russian President Putin met with a U.S. envoy.

Companies - Boeing surged over 10%, while Amazon made headlines. Oil and gold closed lower. - Apple resisted India's mandatory security app installation order. - Amazon rapidly launched its latest in-house AI chip, challenging Nvidia and Google. - Walmart invested $350 million in a second U.S. dairy processing plant. - Nvidia clarified its $100B OpenAI investment framework remains undecided. - Citi expanded its investment-grade bond trading team for AI-driven issuance demand. - Amazon introduced an AI agent claimed to operate continuously for days. - JD.com acquired 59.8% equity and voting rights in Ceconomy. - Mistral released new open-source frontier and small AI models.

Commodities & Commentary - Commodities wrap: Oil declined, copper retreated, silver hovered near record highs. - Oil prices fell in volatile trading as traders monitored Ukraine negotiations. - U.S. Treasuries stabilized after recovering early losses, yield curve steepened. - Bloomberg Dollar Index held steady amid seasonal pressure. - Strategists turned cautious on the dollar's December outlook, warning of "triple risks." - U.S. Treasury Secretary Besant projected 4% GDP growth by 2026. - Trump may announce new Fed chair in "early next year," delaying decision past Christmas.