Overnight Market Recap: U.S. Stocks Decline, Oil and Gold Drop, Japan Earthquake Triggers Nuclear Concerns, Global FX Trading Volume Hits Record

Deep News12-09 06:40

**Market Highlights** U.S. stocks closed lower on Monday as investors awaited the Federal Reserve's policy decision.

**Top 20 U.S. Stock Movers**: Morgan Stanley downgraded Tesla, citing overvaluation. **Chinese ADRs**: Mixed performance—TSMC rose 2.44%, while Alibaba dipped 0.08%. **Commodities**: Oil prices fell amid Ukraine peace talks and Fed uncertainty. Spot gold slipped 0.19% to $4,189.69/oz. **European Markets**: Edged down cautiously ahead of central bank meetings.

**Macro Developments** - Japan’s nuclear facility reported spent fuel pool water overflow after a 7.6-magnitude earthquake, though officials confirmed nearby plants were safe. - The U.S. Supreme Court signaled expanding presidential power to dismiss federal officials. - $12 billion in aid announced for farmers impacted by tariffs. - New York Fed survey noted stable inflation expectations but worsening household finances. - Trump’s administration faces lawsuits over removing an immigrant-tracking app and threatens Canada with fertilizer tariffs.

**Corporate Updates** - Paramount launched a $108 billion hostile bid for Warner Bros., with Kushner’s firm financing the deal. - Morgan Stanley cut Tesla’s rating for the first time in 2.5 years, flagging excessive valuation. - Warby Parker and Google unveiled AI-powered smart glasses for 2026. - Berkshire reshuffled leadership pre-Buffett transition, backing a JPMorgan investment. - Apple’s chip lead Srouji dismissed rumors of imminent departure. - OpenAI reported surging enterprise AI adoption. Analysts downgraded Netflix and Tesla. - IBM acquired Confluent for $11 billion to boost cloud growth; Robinhood expanded to Indonesia. - SoftBank and Nvidia are reportedly investing in Skild AI at a $14 billion valuation.

**Analyst Views** - Fitch warned of rising risks for U.S. banks with heavy crypto exposure. - PIMCO’s CIO cautioned against inflated credit ratings. - BIS linked U.S. tariffs to record global FX trading volumes. - Treasury yields hit multi-month highs as Fed rate-cut bets eased.

**Policy & Data** - U.S. 3-year note auction yielded 3.614%, below pre-sale levels. - European bonds slid, with German yields at March highs amid ECB hike speculation. - Oil declined on refined product weakness; copper hit a fresh peak. - The dollar edged up ahead of a packed central bank week.

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