🗓 Tuesday, December 2, 2025
► Europe higher – cautious rebound as global sentiment improves
European equities advanced as markets attempted to recover from Monday’s weak start to December. Stoxx 600 +0.32%, DAX +0.59%, CAC 40 +0.28%, FTSE 100 +0.29%, FTSE MIB +0.51%, IBEX 35 +1.09%, SMI +0.72%. Utilities outperformed (Orsted +2.9%, EDP +1.6%) as investors shifted into stable sectors amid lingering volatility. Bayer +11.8% jumped after gaining U.S. government support in its effort to curb Roundup lawsuits. Banks rose modestly after the BoE said all major UK lenders passed stress tests. Eurozone inflation edged slightly higher to 2.2%, but mostly in line with expectations with core inflation coming in slightly cooler than expected (2.4% YoY vs. 2.5% expected); ECB rate cuts remain likely in early 2026. EUR/USD 1.162 (+0.04%), GBP/USD 1.321 (flat), EUR/JPY 181.1 (+0.4%).
► Wall Street firmer – stocks stabilize as crypto rout cools; Fed expectations dominate
US futures are slightly higher in pre-market trading as markets attempted to regain footing after Monday’s risk-off session. S&P 500 +0.15%, Nasdaq 100 +0.25%, Dow +0.05%. Bitcoin bounced above $87K after dropping 6% in the previous session, easing pressure on high-risk tech names and crypto-linked stocks. Tech stabilized after last week’s strong performance. Traders remain focused on next week’s Fed meeting, with markets pricing an ~88% chance of a December rate cut. Sentiment stays mixed as concerns over elevated AI valuations persist, though December seasonality offers tailwinds. US 10Y 4.116% (+2bps), Dollar Index 99.43 (flat).
► Asia mixed – Taiwan & Kospi lead; China softer; Nikkei flat
Asian markets delivered a mixed session as regional sentiment improved following Bitcoin’s stabilization. Taiwan +0.81%, Kospi +1.90%, HSI +0.24%, ASX 200 +0.17%, Nikkei flat, Nifty -0.55%, Shanghai -0.42%, Shenzhen -0.69%. TSMC and AI-related semiconductor names rebounded as risk appetite improved. Japanese markets were steady after earlier turbulence tied to BoJ rate-hike speculation, while strong demand at a JGB auction helped calm yields. Broader sentiment benefited from expectations of a Fed cut next week.
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