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- Dow Drops as Crypto Weakness Hits Sentiment:<\/strong> The Dow Jones Industrial Average fell 427.09 points or 0.9% to 47,289.33 as sharp cryptocurrency declines unsettled risk appetite and ended a five-day win streak. The S&P 500 slipped 0.53% to 6,812.63 and the Nasdaq Composite eased 0.38% to 23,275.92, with digital-asset volatility adding pressure to broader equity markets.<\/li>\n\n\n\n
- S&P 500 Pulls Back After Strong Weekly Gains:<\/strong> The S&P 500 fell 0.53% to close at 6,812.63, giving back part of last week\u2019s more than 3% advance as December trading began on a softer note. Investors reassessed stretched valuations after a volatile November in which the index finished only slightly positive despite notable sector rotation.\u00a0<\/li>\n\n\n\n
- Nasdaq Retreats After Five Straight Gains:<\/strong> The Nasdaq Composite fell 0.38% to finish at 23,275.92, ending its five-session rally as weakness in artificial intelligence beneficiaries and crypto-exposed stocks re-emerged. The index closed November down 1.5%, breaking a seven-month streak after previously falling nearly 8% from the October close.<\/li>\n\n\n\n
- Europe Starts December Lower:<\/strong> European equities opened the final month of the year in negative territory, with the Stoxx 600 down 0.2% as most sectors and major bourses declined. The FTSE 100 slipped 0.18% to 9,702.53, Italy\u2019s FTSE MIB fell 0.2% to 43,259 and Germany\u2019s DAX dropped 237 points or 0.99%. France\u2019s manufacturing PMI weakened to 47.8 from 48.8, indicating deeper contraction, and UK services optimism fell at the fastest pace in three years amid cost pressures and caution over Rachel Reeves\u2019s 26 billion pounds in tax rises. Switzerland posted stronger data, with retail sales up 2.7% year on year, helped by firm non-food and information-technology categories. Airbus declined 5.8% after rolling out urgent software updates to its A320 fleet, although widespread travel disruption did not follow.<\/li>\n\n\n\n
- Asia Trades Mixed as China Data Disappoints:<\/strong> Asia-Pacific markets were mixed as China\u2019s private manufacturing PMI unexpectedly slipped into contraction. Hong Kong\u2019s Hang Seng rose 0.81% and the CSI 300 gained 1.1% to 4,576.49 despite the RatingDog China General Manufacturing PMI falling to 49.9 compared with expectations of 50.5. Digital-asset-related stocks in Hong Kong fell after the People\u2019s Bank of China issued a warning about illegal cryptocurrency activities. Japan underperformed, with the Nikkei 225 down 1.89% to 49,303.28 and the Topix lower by 1.19% at 3,338.33. South Korea\u2019s Kospi eased 0.16% while the Kosdaq climbed 1.06%, and Australia\u2019s ASX 200 slipped 0.57% despite firmer PMI data. India\u2019s Nifty 50 declined 0.15% and the Sensex edged 0.13% lower as the current account deficit narrowed to 12.3 billion dollars or 1.3% of GDP.<\/li>\n\n\n\n
- Oil Rises More Than 1% on OPEC Policy and Supply Risks:<\/strong> Brent crude increased 1.39% to 63.25 dollars and WTI rose 1.54% to 59.45 dollars as geopolitical tensions and OPEC\u2019s decision to keep output unchanged supported prices. Temporary disruptions at the Novorossiysk terminal and Ukrainian drone strikes added to supply concerns.<\/li>\n\n\n\n
- Treasury Yields Increase Ahead of FOMC Meeting:<\/strong> The 10-year Treasury yield climbed roughly 7 basis points to 4.096%, the 30-year rose to 4.747% and the 2-year moved to 3.537%. Traders are now pricing an 88% probability of a quarter-point rate cut next week as expectations for slightly stronger 2026 growth build.<\/li>\n\n\n\n
- US Manufacturing PMI Contracts for Ninth Month:<\/strong> The ISM manufacturing PMI fell to 48.2 from 48.7, with new orders easing to 47.4 and prices paid rising to 58.5. Supply chains continued to improve as supplier deliveries eased to 49.3, but subdued demand kept overall factory activity in contraction territory.<\/li>\n\n\n\n
- Cryptocurrencies Extend Losses as Bitcoin Slumps:<\/strong> Bitcoin fell 6% to around $85,894, its worst day since March, as the latest wave of selling across digital assets intensified. The move followed last month\u2019s break below $90,000 for the first time since April, with the cryptocurrency struggling to regain momentum after a sharp October downturn. Ether dropped 8.4% and Solana fell more than 9%, while other major tokens also traded lower. Bitcoin shed more than $18,000 in November, its largest monthly dollar loss since May 2021.<\/li>\n<\/ul>\n\n\n\n
FX Today:<\/strong><\/p>\n\n\n\n
![\"\"](\"https:\/\/www.infinox.com\/global\/wp-content\/uploads\/sites\/5\/2025\/12\/Currency-Strenght-2Dec25.png\")
<\/figure>\n\n\n\n- \n
- EUR\/USD Finds Support After Intraday Dip:<\/strong> EUR\/USD closed at 1.1610, up 0.13%, after trading between 1.1652 and 1.1589, with buyers stabilising the pair despite recent downside pressure. It remains just beneath the 50-day SMA at 1.1616 and the 100-day SMA at 1.1643, while the rising 200-day SMA at 1.1438 continues to support the broader trend. Resistance stands at 1.1632 and the 100-day SMA, with the former swing high at 1.1700 further overhead. Support lies at 1.1589 and then 1.1550. A close above 1.1643 would improve the bullish tone.<\/li>\n\n\n\n
- GBP\/USD Slips Toward Recent Lows:<\/strong> GBP\/USD closed at 1.3211, down 0.15%, after reaching 1.3275 and slipping to 1.3205 as sellers retained control through the session. The pair continues to trade below the 50-day SMA at 1.3276, the 100-day SMA at 1.3371 and the 200-day SMA at 1.3315, reinforcing a clear bearish structure. Resistance remains at 1.3275 and the 200-day SMA, while support stands at 1.3205 before the November low near 1.3090. A break below 1.3205 would expose further downside.<\/li>\n\n\n\n
- EUR\/GBP Extends Upward Momentum:<\/strong> EUR\/GBP ended at 0.8787, up 0.33%, after moving between 0.8793 and 0.8756, with a firm close near the daily high. The pair holds above the 50-day SMA at 0.8748, the 100-day SMA at 0.8705 and the 200-day SMA at 0.8588, maintaining its broader uptrend. Resistance is at the November peak of 0.8870, while support lies at 0.8756 and then the 50-day SMA. A move above 0.8793 would encourage a renewed push higher.<\/li>\n\n\n\n
- USD\/JPY Pulls Back After Fresh Highs:<\/strong> USD\/JPY closed at 155.45, down 0.43%, after reaching 156.14 and dipping to 154.66 as profit-taking emerged following multi-year highs. Despite the retreat, the pair remains well above the 50-day SMA at 152.68, the 100-day SMA at 150.18 and the 200-day SMA at 147.99, keeping the broader uptrend intact. Resistance sits at 156.14, with support at 154.66 and then the 50-day SMA. Regaining a close above 156.14 would restore upward momentum.<\/li>\n\n\n\n
- Silver Pushes Higher as Breakout Strengthens:<\/strong> Silver gained 2.78% to close at $57.96 dollars after trading between $58.84 and $56.19, with strong buying interest keeping the metal near multi-year highs. It remains well above the sharply rising 50-day SMA at $49.45, the 100-day SMA at $44.29 and the 200-day SMA at 38.96. Resistance is now psychological near $60.00 dollars, while support lies at $56.19 and then $54.00. A close above $58.40 would signal continued upside momentum.<\/li>\n\n\n\n
- Gold Firms Toward Retesting Its Record:<\/strong> Gold closed at $4,239, rising 0.50% after trading between $4,264 and $4,205, with buyers regaining control as the metal approaches its all-time high. It remains supported above the 50-day SMA at $4,031, the 100-day SMA at $3,732 and the 200-day SMA at $3,460. Resistance sits near $4,380, while support stands at $4,205 and then $4,100. A close above $4,264 would strengthen prospects for a renewed test of the peak.<\/li>\n<\/ul>\n\n\n\n
Market Movers:<\/strong><\/p>\n\n\n\n
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- Crypto-Exposed Stocks Slide as Bitcoin Falls:<\/strong> Shares tied to digital assets came under pressure, with Galaxy Digital Holdings down more than 6%, and Strategy and Coinbase declining more than 4%. Riot Platforms slipped more than 3%, and MARA Holdings fell more than 2%.<\/li>\n\n\n\n
- Macau Gaming Names Advance on Strong Revenue:<\/strong> Casino operators with exposure to Macau gained after November gaming revenue rose 14.4% year on year. Wynn Resorts and Melco Resorts & Entertainment climbed more than 3%, while Las Vegas Sands added over 2%.<\/li>\n\n\n\n
- Moderna Declines Following FDA-Linked Report:<\/strong> Moderna slid 7% to lead vaccine makers lower after a report linked Covid-19 vaccines in younger people to deaths associated with myocarditis.<\/li>\n\n\n\n
- Shopify Falls as Spending Momentum Cools:<\/strong> Shopify lost more than 5% after Oppenheimer noted the pace of consumer spending moderated through Sunday during the Black Friday.<\/li>\n\n\n\n
- Leggett & Platt Surges on Takeover Proposal:<\/strong> Leggett & Platt jumped more than 16% after Somnigroup International offered to acquire all outstanding shares for 12 dollars each.<\/li>\n\n\n\n
- Synopsys Rallies After Nvidia Investment:<\/strong> Synopsys rose more than 4% to lead the S&P 500 after Nvidia revealed a $2 billion investment and announced a multi-year strategic partnership.<\/li>\n<\/ul>\n\n\n\n
Markets opened December on a softer footing as weakness in cryptocurrencies filtered through to broader risk sentiment and ended the major US indices\u2019 five-day winning streak. Equities in Europe and Asia were similarly mixed, with investors digesting weaker manufacturing data from France and China alongside pockets of resilience in Switzerland and Hong Kong. Oil prices firmed on renewed supply concerns, while Treasury yields moved higher as expectations of a Federal Reserve rate cut next week continued to build. <\/p>\n","protected":false},"excerpt":{"rendered":"
Wall Street stumbled at the start of December as a sharp downturn in cryptocurrencies weighed on risk appetite and halted the market\u2019s recent momentum. The major US indices all finished lower, snapping a five-day winning streak, with weakness across digital assets spilling into equity sentiment and prompting broad profit-taking after last week\u2019s strong gains. LossesContinue Reading<\/a><\/p>\n","protected":false},"author":39,"featured_media":28210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[112],"tags":[],"class_list":["post-28209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-news"],"acf":[],"aioseo_notices":[],"lang":"en","translations":{"en":28209,"ko":28216},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts\/28209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/comments?post=28209"}],"version-history":[{"count":0,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/posts\/28209\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/media\/28210"}],"wp:attachment":[{"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/media?parent=28209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/categories?post=28209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.infinox.com\/global\/wp-json\/wp\/v2\/tags?post=28209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
- Macau Gaming Names Advance on Strong Revenue:<\/strong> Casino operators with exposure to Macau gained after November gaming revenue rose 14.4% year on year. Wynn Resorts and Melco Resorts & Entertainment climbed more than 3%, while Las Vegas Sands added over 2%.<\/li>\n\n\n\n
- GBP\/USD Slips Toward Recent Lows:<\/strong> GBP\/USD closed at 1.3211, down 0.15%, after reaching 1.3275 and slipping to 1.3205 as sellers retained control through the session. The pair continues to trade below the 50-day SMA at 1.3276, the 100-day SMA at 1.3371 and the 200-day SMA at 1.3315, reinforcing a clear bearish structure. Resistance remains at 1.3275 and the 200-day SMA, while support stands at 1.3205 before the November low near 1.3090. A break below 1.3205 would expose further downside.<\/li>\n\n\n\n
- S&P 500 Pulls Back After Strong Weekly Gains:<\/strong> The S&P 500 fell 0.53% to close at 6,812.63, giving back part of last week\u2019s more than 3% advance as December trading began on a softer note. Investors reassessed stretched valuations after a volatile November in which the index finished only slightly positive despite notable sector rotation.\u00a0<\/li>\n\n\n\n